Cut-Throat Rivalry Hot, Say Non-Lifers

Non-life insurance players are facing cut-throat competition as discounts on tariffs have become a way of life. New business growth has failed to take off and the industry is looking at a maximum growth of seven to eight per cent. This is one issue that the 10 players are expected to thrash out with the Insurance Regulatory and Development Authority (IRDA), when it meets the CEOs of non-life insurance companies in Bangalore tomorrow. Said Bajaj Allianz General Insurance Company chief operating officer Kamesh Goyal: