Insurance business is the best business in this world .That is why majority of banks and other financial institutions are in it. The capital for this business is the basic fear of human being. The three major fears are sickness, old age and death.
Insurance promises security from these and makes money.So it is a business without capital and builds a huge reserve of cash for the concerned firm.
Every insurance company should file statistics with some neutral agency about the quantum of money earned annually and quantum of it dispersed to settle claims.
i would welcome any one who can give me true statistical data on this business.This business will never become bankrupt as the fears of man are eternal. so why not create a world pool of insurance to be managed by the UNO?
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