Insurance companies deffered opening new offices.

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PostPosted: Fri Mar 13, 2009 7:30 am   Post subject: Insurance companies deffered opening new offices.  

Hi there,

As recession has made impact in all financial areas, so has affected insurance sector. With decreasing growth rate from 82 % to 13% avoided most of insurance companies to open new branches to expand their business. Even the existing branches are finding deficiency of capital.

watching current financial status, I guess worst days are still to come.



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bharti
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PostPosted: Fri Mar 13, 2009 9:04 am   Post subject:   

The situation is already enough scary to await the worst.



Many of the insurance brokerage houses are experiencing significant drop in the number of new businesses. Also many of the old clients are allowing their policies to lapse to avoid the expenses towards premiums. The combined affect of these two factors have significantly affected the earning potential of the agencies.


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PostPosted: Fri Mar 13, 2009 11:40 am   Post subject:   

All I can tell you is re: the claims areas...branches are closing all over the country at a very rapid rate!



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PostPosted: Tue Apr 14, 2009 11:02 am   Post subject:   

Hi there,

Currently the situation is so tight that people are facing poverty , Then how can one pay the life insurance premium. It's very strange to watch such things are happening in most developed nations, then what to talk of underdeveloped. No only the insurance business,but various other financial business like banking, stock trading etc are facing the same problem.

How can we overcome from such harsh condition.



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Bhartiaxa

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PostPosted: Tue Apr 14, 2009 2:01 pm   Post subject:   

Hi Bharti,



Quote:
With decreasing growth rate from 82 % to 13% avoided most of insurance companies to open new branches to expand their business.


Are these stats referring to the global insurance sector? Or is it associated with a particular segment within the industry?



Steven
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