Page 15 - Life Insurance Today July - December 2020

CORPORATE

GOVERNANCE -

CURRENT EMINENT

CHALLENGE IN

INDIAN LIFE

INSURANCE SECTOR

Introduction: The aim of the paper is to analyse the application of
corporate governance in the life insurance in India and
Corporate governance in the life insurance sector in India,
associated constrains that may be faced by the life insurers
includes the rules, regulations and their implementation
in this current era. Let us first point out the importance of
that regulate the way in which the governance and control
the application of corporate governance in life insurance
of these insurance companies is performed and put into
sector and specifics of the legal framework of corporate
service by them in practice. The basic requirement of
governance applicable for the life insurance companies and
development and implementation of corporate governance
then analyse the quality of corporate governance, reporting
is the improvement of all of the economic indicators,
the Regulator & other Statutory Authorities on
primarily the long-term sustainable development in the
international principles in the implementation of corporate
interests of the Insurers and all other stakeholders,
including policyholders, creditors, employees, government governance.
and the wider community, the society itself.
Good corporate governance is the key to efficiency in this
competitive environment of life insurance sector,
About the author particularly in this post lockdown regime as it provides a
cutting edge, even in this cut-throat competition
Anabil Bhattacharya
Insurance Consultant, sometimes beyond ethics. It is necessary, not just because
B.M.E. (Honours) (Jadavpur University) & it is good for the shareholders and other stakeholders, but
F.I.I.I. (I.I.I.), Mumbai, Retired Chief because it is a dire requirement for the interest of the life
Manager H.O., N.I.C.L., Kolkata. insurance companies itself in the present prevailing

"To an unhealed heart, true love is a scary thing to face."

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