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Home»Articles»An Analysis of the Performance of General Insurance Companies in India

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Asian Journal of Managerial Science (AJMS)

Editor Dr. Tan Fee Yean
Print ISSN : 2249 - 6300
Frequency : Quarterly

An Analysis of the Performance of General Insurance Companies in India

Author : Soheli Ghose and Raman Kumar
Volume 8 No.1 January-March 2019 pp 20-27

Abstract

The General Insurance Industry in India is growing at a very rapid pace. This is an empirical research based on secondary data collected from Annual Reports and Pro-forma Schedules of IRDA. An Excel data Model was created to taken in the core figures of GWP, NEP, NP and others of 4 General Insurance Majors to calculate other relevant ratios as need for the analysis. The objectives of this study are to analyze a few General Insurance companies in India and core Ratios related to the Insurance Sector only and to comparatively analyse Retention ratio, Total Claims Incurred, Earned Incurred Loss Ratio, and Combined Ratio. The conclusion report has been framed on the basis of which company seems to be the best with respect to its Future Growth prospects, Risk prospects and the stability of its growing business. Out of the companies analyzed, TATA-AIG GENERAL INSURANCE has a good future prospect.

Keywords

Combined Ratio, Earned Incurred Loss Ratio, General Insurance, India, Retention Ratio and Total Claims Incurred

Full Text:

References

[1] Kumar. (2005). LIC Making Inroads into Rural India, Insurance Chronic, 42-49.
[2] Jagendra. (2005).Innovative Environment in Renovated Insurance Industry, The Insurance Times, 25, 4.
[3] Krishnamurthy. (2005). Insurance Sector: Challenges of Competition and Future Scenario, Vikalpa, 30(3), 93-119.
[4] Bakhshi. (2005). Integrated Approach: Key to Growth and Development, Vikalpa, 30(3), 93-119.
[5] Bhat and Dixit. (2005). Exploiting an Opportunity with Partnerships, Vikalpa, 30(4), 93-119.
[6] Rajesham & Rajendar. (2006). Changing Scenario of Indian Insurance Sector, Indian Journal of Marketing, July, 9.
[7] Selvavinayagam & Mathivanan. (2010). A Study on Policyholders Preference and Satisfaction of Services Rendered by Selected Life Insurance Companies in Tamilnadu, Namakal District, International Journal of Marketing and Trade Policy, 2(1-2), 47-56.

Asian Journal of Managerial Science (AJMS) is a quarterly international peer-reviewed journal of Managerial Science. One of the objectives of this journal is to disseminate knowledge on various research issues connected with the topics include, but are not limited to:

Accounting, Auditing, Banking, Business strategy, Corporate governance, Entrepreneurship, Financial structure, Capital markets, Health economics, Human resources management, Information systems,Innovation management, Insurance, Marketing, Organization, Production and logistics, Risk management, and Taxation.

The General Insurance Industry in India is growing at a very rapid pace. This is an empirical research based on secondary data collected from Annual Reports and Pro-forma Schedules of IRDA. An Excel data Model was created to taken in the core figures of GWP, NEP, NP and others of 4 General Insurance Majors to calculate other relevant ratios as need for the analysis. The objectives of this study are to analyze a few General Insurance companies in India and core Ratios related to the Insurance Sector only and to comparatively analyse Retention ratio, Total Claims Incurred, Earned Incurred Loss Ratio, and Combined Ratio. The conclusion report has been framed on the basis of which company seems to be the best with respect to its Future Growth prospects, Risk prospects and the stability of its growing business. Out of the companies analyzed, TATA-AIG GENERAL INSURANCE has a good future prospect.

Editor-in-Chief
Dr. Tan Fee Yean
Department of HRM, Universiti Utara Malaysia, Kedah, Malaysia
[email protected]
Editorial Advisory Board
Dr. Aidil Rizal Bin Shahrin
Department of Finance and Banking, University of Malaya, Malaysia
[email protected]
Dr. Amalendu Bhunia
Department of Commerce, University of Kalyani, West Bengal, India
[email protected]
Dr. Ahmad Zahiruddin Bin Yahya
Department of Accountancy, University of Malaya, Malaysia
[email protected]
Dr. Anil Govindrao Suryavanshi
Department of Commerce & Management, The New college, (Shivaji University), Maharashtra, India
[email protected]
Dr. Ong Lin Dar
Department Of Business Strategy And Policy, University of Malaya, Malaysia
[email protected]
Dr.V.Balachandran
Department of Corporate Secretaryship, Alagappa University,Tamil Nadu, India
[email protected]
Dr. Yeong Wai Chung
Department Of Operation and Management Information, University of Malaya, Malaysia
[email protected]
Prof.V.V.Devi Prasad Kotni
Department of Management Studies,GVP College for Degree & PG Courses, Andhra Pradesh, India
[email protected]
Dr. Quah Chee Heong
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected].edu.my
Dr.Subrata Roy
Department of Commerce, Rabindra Mahavidyalaya, West Bengal, India
[email protected]
Dr. Norbani Binti Che Ha
Department of Marketing, University of Malaya, Malaysia
[email protected]
Dr. Tey Lian Seng
Department Of Business Strategy and Policy, University of Malaya,  Malaysia
[email protected]
Dr. Mohammad Nazri Bin Mohd Nor
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Binish Qadri
Research Scholar, Department of Economics, Central University of Kashmir, India
[email protected]
Dr. Khaw Lee Hwei
Department of Finance and Banking, University of Malaya, Malaysia
[email protected]
Dr. V. P. Sriram
Department of Management, Balaji Institute of International Business, Maharashtra, India
[email protected]
Dr. Yusniza Binti Kamarulzaman
Department of Marketing, University of Malaya,  Malaysia
[email protected]
Dr. Kanagi Kanapathy
Department of Operations and Management Information Systems, University of Malaya, Malaysia
[email protected]
Dr. Abd El Salam Mahmoud Abou Kahf
Department of Commerce, Alexandria University, Egypt
[email protected]
Dr. Wong Sek Khin
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Lee Su Teng
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Phoong Seuk Wai
Department of Operation and Management Information System, University of Malaya, Malaysia
[email protected]
Dr. Dennis Palkon
College of Business, Management, Florida Atlantic University
[email protected]

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    Editorial Note

    Editorial Dr. Tan Fee Yean

    Editor-in-Chief
    Dr. Tan Fee Yean
    Department of HRM, Universiti Utara Malaysia, Kedah, Malaysia
    [email protected]
    Editorial Advisory Board
    Dr. Aidil Rizal Bin Shahrin
    Department of Finance and Banking, University of Malaya, Malaysia
    [email protected]
    Dr. Amalendu Bhunia
    Department of Commerce, University of Kalyani, West Bengal, India
    [email protected]
    Dr. Ahmad Zahiruddin Bin Yahya
    Department of Accountancy, University of Malaya, Malaysia
    [email protected]
    Dr. Anil Govindrao Suryavanshi
    Department of Commerce & Management, The New college, (Shivaji University), Maharashtra, India
    [email protected]
    Dr. Ong Lin Dar
    Department Of Business Strategy And Policy, University of Malaya, Malaysia
    [email protected]
    Dr.V.Balachandran
    Department of Corporate Secretaryship, Alagappa University,Tamil Nadu, India
    [email protected]
    Dr. Yeong Wai Chung
    Department Of Operation and Management Information, University of Malaya, Malaysia
    [email protected]
    Prof.V.V.Devi Prasad Kotni
    Department of Management Studies,GVP College for Degree & PG Courses, Andhra Pradesh, India
    [email protected]
    Dr. Quah Chee Heong
    Department of Business Strategy and Policy, University of Malaya, Malaysia
    [email protected].edu.my
    Dr.Subrata Roy
    Department of Commerce, Rabindra Mahavidyalaya, West Bengal, India
    [email protected]
    Dr. Norbani Binti Che Ha
    Department of Marketing, University of Malaya, Malaysia
    [email protected]
    Dr. Tey Lian Seng
    Department Of Business Strategy and Policy, University of Malaya,  Malaysia
    [email protected]
    Dr. Mohammad Nazri Bin Mohd Nor
    Department of Business Strategy and Policy, University of Malaya, Malaysia
    [email protected]
    Dr. Binish Qadri
    Research Scholar, Department of Economics, Central University of Kashmir, India
    [email protected]
    Dr. Khaw Lee Hwei
    Department of Finance and Banking, University of Malaya, Malaysia
    [email protected]
    Dr. V. P. Sriram
    Department of Management, Balaji Institute of International Business, Maharashtra, India
    [email protected]
    Dr. Yusniza Binti Kamarulzaman
    Department of Marketing, University of Malaya,  Malaysia
    [email protected]
    Dr. Kanagi Kanapathy
    Department of Operations and Management Information Systems, University of Malaya, Malaysia
    [email protected]
    Dr. Abd El Salam Mahmoud Abou Kahf
    Department of Commerce, Alexandria University, Egypt
    [email protected]
    Dr. Wong Sek Khin
    Department of Business Strategy and Policy, University of Malaya, Malaysia
    [email protected]
    Dr. Lee Su Teng
    Department of Business Strategy and Policy, University of Malaya, Malaysia
    [email protected]
    Dr. Phoong Seuk Wai
    Department of Operation and Management Information System, University of Malaya, Malaysia
    [email protected]
    Dr. Dennis Palkon
    College of Business, Management, Florida Atlantic University
    [email protected]

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