New Delhi, May 23 (PTI): enthusiastic over 100 percent growth in life insurance in 2006-07, more than four players at the beginning of their probable venture of the year.

Another awaits 3-4 players, the life insurance business in this financial year, the number of players to 20, “IRDA Member (Life) said Prabhakar G PTI here.

Your applications were rejected at various stages of approval, he said, adding that some of the candidates were verstaatlichte, banks have had a lot of foreign players.

There are currently 15 private players, with 25 per cent market share, while insurance, the public sector LIC-Player is the market leader with over 75% market share.

In addition to numerous players have mapped the existing expansion plan, tap the emerging market, he said, adding, some companies were planning to double their activities.

Private actors were in the subway, but now cities to reach semi-urban and rural India, he said.

Prabhakar, said 2000 since its inception in IRDA, the density of insurance has increased from 1.77 per cent to 2.53 per cent during the year 2005.

During the same period, per capita spending on insurance products for the triple-triple increased to USD 20.4 USD 7.6 by the year 2000, he said, the Birla Institute of Management Technology.

The future challenges of the industry, he said, the main obstacle is the big black dot of human resources.