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Economic fundamentals strongly suggest that there is a tremendous potential for the insurance sector to attain a high growth level. The insurance penetration in a country depends on its level of economic activity, risk awareness among the people and the deepening of the financial system. With a large population and an untapped market, insurance industry has a huge growth potential in India. The improved performance in the domestic economy has an impact on the insurance industry, in particular. Higher per capita income, domestic savings and availability of more instruments for parking surplus funds facilitates growth in the activities of financial services, particularly insurance...
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