Study on Corporate Governance, Norms and Growth of Life Insurance Sector in India

Document Type : Primary Research paper


Assistant Professor Institute of Management Studies, Noida, Uttar Pradesh


Insurance companies are playing a vital role in India either private or
government insurance companies. There is a large number of private and government
Insurance companies in India, which are developing the Insurance market, and because of
development of these private and government Insurance Companies, basic facilities are
increasing in India rapidly and people of India are getting better Insurance policies. In
India, insurance companies are offering and making the arrangement for policyholders'
as indicated by their necessities. Along this, these companies have figured out how to be
prominent in the Indian Insurance Industry. Commonly corporate governance is the
creation of general adhering, top managerial staff, executive gathering, meeting
recurrence political decision and organization of the board. The BOD is set up to selected
directors, for example, the CEO in the interest of the investors in view of basic targets of
expanding investor worth and productivity. Corporate governance can be taken as
connections in between Company's board, Investors and the Partners. Corporate
governance provides the structure through which the Company's goals are determined and
those methods are selected which help in accomplishing these goals, by checking and
execution. Good corporate governance provides appropriate mechanism to board and the
board always supports in the light of legitimate concern to organisation for its investors.
As per the business word reference, the system of standards and practices are set by the top
managerial staff and these guarantee responsibility, reasonableness and
straightforwardness in a company's association with every one of its partners. The theme
of corporate governance and its segments has stayed basic for scholastic specialists and
approach producers throughout the previous couple of decades particularly with regards to
farms esteem.