Financial Growth Assessment of Private Life Insurers in India: An Aggregative Study

Authors

  • Dr. 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 Author
  • Prof. P.S. Aithal Professor, Faculty of Management & Commerce, Srinivas University, Mangalore, India Author

DOI:

https://doi.org/10.31305/rrijm2022.v02.n03.002

Keywords:

Earnings, Financial Health, Financial Growth, Indicators, Private Life Insurers

Abstract

Presently, Indian insurance industry has 57 insurance companies, out of which 24 are in the life insurance sector. Among all the life insurers, only LIC is the public insurer and the remaining 23 companies are private insurers. The entire route of allowing private insurance companies in India had begun in the early 1990s. A well-developed insurance sector with participation from both private and public players is the key to economic development as it delivers a source of long-term funds for infrastructure development. In this background, the study aims to examine the trend growth rates and the differences in growth rates of earnings and financial health indicators during the period 2010-11 to 2019-20. The findings of the study show mixed results with respect to earnings and financial health performance of private life insurers in India. To arrive at a meaningful conclusion, overall earnings and financial health indicators are measured. The overall results show that there has been no change in the overall earnings and financial health indicators as revealed by Chow test during the period under study. On the whole, it may be stated that in spite of significant positive growth in FDIR, the private life insurers have not shown satisfactory performance (i.e., no significant impact due to FDI hike) with respect to earnings and financial health indicators during the study period.

Author Biographies

  • Dr. 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, Purba Medinipur, 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.

  • Prof. 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

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Published

2022-09-30

Issue

Vol. 2 No. 3 (2022): RRIJM [JUL-SEP]

Section

Articles

How to Cite

Basu, T., & Aithal, P. (2022). Financial Growth Assessment of Private Life Insurers in India: An Aggregative Study . Revista Review Index Journal of Multidisciplinary, 2(3), 06-13. https://doi.org/10.31305/rrijm2022.v02.n03.002