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UIIC AO Industry Entry — practice questions

Explore 1 free Industry Entry questions in UIIC AO Insurance. Open each question or exercise to read its content, reference answers and available explanation.

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Industry Entry questions and exercises with answers

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How many private companies had entered the LIFE insurance segment in India as per the IRDA brochure (around 2013)?Read the answer and worked solution →

Worked practice questions

How many private companies had entered the LIFE insurance segment in India as per the IRDA brochure (around 2013)?

  1. 10
  2. 23
  3. 15
  4. 30
Show answer and solution

Correct answer: B. 23

1. Before liberalisation only LIC offered life insurance and GIC general. 2. Post-IRDA Act 1999, private companies entered both segments. 3. The brochure states 23 new private companies in life and 22 in non-life. _Source: IRDA Brochure (irdai.gov.in — official IRDAI publication) — "The industry has so far witnessed the entry of 23 new private companies in the life segment and 22 in the non-life segment."_

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More Insurance topics

Insurance IntermediariesInsurance Penetration and DensityInsurance Repository SystemIRDA Brief HistoryComposition of IRDAFinancial EducationFormation of IRDAGrievance Redressal