A Study On Assessment Of Financial Performances Of Public Sector Non-Life Insurance Companies Operating In India Based On Certain Key Parameters – A Comparative Analysis Using CARAMEL Framework

Abstract

With the change in the government policies shall give raise to private players which in turn There shall be chances of decline in the market share of state-owned general insurance companies however there shall be some concern about the operational efficiency and productivity in the economy with respect to public sector general insurance companies Since general insurance shall play a vital role in Indian financial system at present it has a market share of 38.8% coming days ahead this industry  shall play the predominant role in growth and development of Indian economy. The study period being 10 years from 2011-12 to 2020-21, ANOVA & hypothesis testing has been carried out in the study. findings of the study is that by using the CARAMEL framework reveal that in terms of networth Ratio’s , Solvency Ratio’s, operational ratio’s & Claim Ratio’s of the  public sector companies have the similar relationships where as in case of Liquidity Ratio’s, Management Efficiency Ratio’s & Risk Retention Ratio’s vary among the public sector companies. Overall study shall try to state that among the public sector general insurance companies NIACL is performing better when compared with their peers. Regulatory should take necessary measures in order to improve the performances of public sector general insurance companies because India has come up with a slogan of “viksit Bharat 2047”with a long term vision to make India a developed nation.