An Analytical Study of Indian General Insurance Companies

Author: Tanwar, Md Irshad Ali & Mittal, Akhil Kumar

Abstract:
In today General insurance plays a vital role in day to day life. Life is incomplete without it. Because general insurance is very useful in motor insurance, health insurance, fire insurance. Today India is one of the fastest growing economies of the world. General insurance of public sector in India is going through a drastic transformation with the arrival of new companies into the market and has become quite competitive with rising awareness among the insured. This research paper aims to analytical study of Indian general insurance companies of public sector consecutives the last eight years viz. 2013-14 to 2020-21. The data were analysed using some statistical tools to examine analytical research of public sector insurance, namely Oriental India Insurance Co. Ltd., New India Assurance Co. Ltd., United India Insurance Co. Ltd. and National Insurance Co. Ltd. This research found that New India Assurance Co. Ltd. have outstanding performance among the General Insurance Insurers of the Public Sector. This study also found that New India Assurance Co. Ltd. has good Solvency Ratio in every year from 2013-14 to 2020-21. It is also earned good net earned premium among the General Insurance Company of the Public Sector

Keywords:General Insurance, Net Incurred Claims, Net Earned Premium, Solvency Ratio.

DOI:

International Journal of Trade & Commerce (Vol: 11 Issue:1)