Financial Growth of Private Non-life Insurers in India: A Trend Analysis

Authors

  • Tamal Basu Post-Doctoral Research Fellow, Faculty of Management & Commerce, Srinivas University, Mangalore, India & Assistant Professor, Dept. of Commerce, Prabhat Kumar College, Contai, West Bengal, India
  • P.S. Aithal Professor, Faculty of Management & Commerce, Srinivas University, Mangalore, India

DOI:

https://doi.org/10.53983/ijmds.v11n09.001

Keywords:

Financial, Growth, Non-life Insurers, Private, Trends

Abstract

In the non-life insurance sector, General Insurance Business Act of 1972 was approved   by the Indian Parliament through amalgamation of 107 general insurance companies   operating on that time. In the non-life insurance segment, there are 6 public sector insurers and the rest 28 are private insurers. Apart from these, there is a sole national re-insurer, namely general Insurance Corporation of India (GIC). In this context, the study attempts to analyze the financial growth of the private non-life insurers in India from 2010-11 to 2019-20. Varied results are observed in respect of selected performance indicators of private non-life insurers in India. Overall, we found no significant change in financial recital indicators during the study epoch. To conclude, it may be stated on the whole, it may be stated that despite momentous positive enlargement in FDIR, the private non-life insurers in India have not shown acceptable recital with respect to financial indicators during the time under study.

Downloads

Download data is not yet available.

Author Biographies

Tamal Basu , Post-Doctoral Research Fellow, Faculty of Management & Commerce, Srinivas University, Mangalore, India & Assistant Professor, Dept. of Commerce, Prabhat Kumar College, Contai, West Bengal, India

Dr.Tamal Basu, presently the Assistant Professor in the Department of Commerce (UG & PG), Prabhat Kumar College, Contai, PurbaMedinipur, West Bengal. He has an experience of 15+ years under graduate and 8+ years post graduate teaching. He acquired his B.Com and M.Com degree from Vidyasagar University, West Bengal and awarded gold medal in both the examinations. He has awarded his doctoral thesis in the field of NBFCs in October, 2020. His specialisation areas are Accounting, Finance and Taxation. He has 26 publications in different national and international journals and edited volumes. In addition to that he has presented 22 papers in different national and international seminars/conferences.

P.S. Aithal, Professor, Faculty of Management & Commerce, Srinivas University, Mangalore, India

Prof. P. Sreeramana Aithal, presently the Vice-Chancellor of Srinivas University, Mangalore, India, has 32 years’ experience in Teaching & Research and 22 years’ experience in Administration. Prof. Aithal currently has FIRST RANK in TOP 12,000 Business Management Authors in the Global Ranking of Elsevier’s SSRN (USA) for maximum number of open access research paper publications in SSRN. He got his first Ph.D. degree in Physics from Mangalore University and second Ph.D. degree in Business Management from Manipal University. He worked as Post-Doctoral Research Fellow at PRL, Ahmedabad from 1999-2000. In the year 2002, he has been selected for the prestigious Oversee Fellowship of Dept. of Science & Technology, Govt. of India – BOYSCAST Fellowship and did Post-Doctoral Research at CREOL, University of Central Florida, U.S.A. Recently, he obtained D.Sc. Degree from Srinivas University for his research on Technology Management. Prof. Aithal has more than 600 research publications in refereed International Journals and presented more than 300 research papers in National & International Conferences/Seminars. He has also written text books on Engineering Physics and Basic Electronics, which have been published by ACME Publishers, New Delhi.

References

Chow.G.C, (1960), “Test of Equality of between Sets of Co-efficient in Two Linear Regressions”, Econometrica, 28, pp. 591-605.

Joshi, F. and Kohli, H.K (2018).Comparative Evaluation of performance of FDI based and Non FDI based Non-Life Insurance companies.International Journal of Research and Analytical Reviews, Vol: 5, Issue: 4, pp. 636-642.

Maddala.G.S, (2007), “Introduction to Econometrics”, 3rd Edition, Wiley-India, pp.173-179

Mahal, Ajay. (2002). Assessing Private Health Insurance in India: Potential Impacts and Regulatory Issues.Economic and Political Weekly,Vol: 37, No. 6, pp. 559-571.

Pakira, Sanjib, K. (2015).Growth Performance Analysis -A Comparative Study between Private and Public Sector Non-Life Insurance Companies. International Journal of Arts, Humanities and Management Studies,Vol: 1, No. 10, pp. 20-32.

Raman,V. (2004).Regulatory Dissonance and Challenges to Globalization: A Comparative Study of the United States and Indian Non-life Insurance Regulatory Frameworks.Geneva Papers on Risk & Insurance - Issues & Practice,Vol: 29(3), pp. 582-595.

Shreedevi, D. and Manimegalai, D. (2013). A Comparative Study of Public and Private Non- Life Insurance Companies in India.International Journal of Financial Management,Vol: 2, Issue: 1, pp. 13-20.

Sinha, R, P. (2007). Productivity and Efficiency of Indian General Insurance Industry. ICFAI Journal of Risk & Insurance, Vol. 4, No. 2, pp. 33-43.

Surya,M, Sudha,B, and Priyanka, T. (2019). FDI in Indian Non-Life Insurance Sector: Boost Market Potential.International Journal of Recent Technology and Engineering, Vol: 8, No. 2S10, pp. 177-181.

“Annual Report of IRDAI.” Annual Report of IRDAI, www.irdai.gov.in/ADMINCMS/cms/frmGeneral_NoYearList.aspx?DF=AR&mid=11.1. Accessed 12 Oct. 2022.

Downloads

Published

30-09-2022

How to Cite

Basu , T. ., and P. . Aithal. “Financial Growth of Private Non-Life Insurers in India: A Trend Analysis”. International Journal of Management and Development Studies, vol. 11, no. 09, Sept. 2022, pp. 01-07, doi:10.53983/ijmds.v11n09.001.

Issue

Section

Articles