A decade after the life insurance industry opened up, only four companies — MetLife, Aegon Religare, Kotak Life and LIC have managed to
show profits in their shareholders’ accounts.
According to data released by the Insurance Regulatory Development Authority (Irda), total accumulated losses for the insurers’ shareholder account now stands at a whopping Rs 14,421 crore for the year 2008-09 while the total equity infused by all companies put together stood at Rs 18,253 crore till March 2009. This, in effect, means that all funds injected by promoters are yet to yield returns on investments for the promoters of these companies.
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