Chapter 2: Macroeconomic and Insurance Indicators
The first 150 years were marked mostly by turbulent economic conditions.It witnessed India's First War of Independence, adverse effects of the World War I and World War II on the economy of India,and in between them the period of worldwide economic crises triggered by the Great depression.The first half of the 20th century saw a heightened struggle for India's independence.The aggregate effect of these events led to a high rate of and liquidation of life insurance companies in India.This had adversely affected the faith of the general in the utility of obtaining life cover.