Banking & Insurance

Abloom’s banking team is proactive and utilizing our expertise to deliver best in quality servicefor few of the leading Banks, Insurance providers, NBFC and Investment clients in India, Middle East & Far East market. We provide cost effective and efficient manpower solutions to our clients in Banking and Insurance industry with broad range of categories of offerings.  

The insurance industry of India consists of 53 insurance companies of which 24 are in life insurance business and 29 are non-life insurers. Among the life insurers, Life Insurance Corporation (LIC) is the sole public sector company. Apart from that, among the non-life insurers there are six public sector insurers. Out of 29 non-life insurance companies, five private sector insurers are registered to underwrite policies exclusively in health, personal accident and travel insurance segments.

India’s banking sector is sufficiently capitalised and well-regulated. The financial and economic conditions in the country are far superior to any other country in the world. Credit, market and liquidity risk studies suggest that Indian banks are generally resilient and have withstood the global downturn well. Standard & Poor’s estimates that credit growth in India’s banking sector would improve to 12-13 per cent in FY16 from less than 10 per cent in the second half of CY14.