An Analysis of Selected Indian Insurance Companies in Comparison Based on Financial Performance
Khanna, Puneet1 and Kumar, Manoj2
1Research Scholar, Department of Business Management and Commerce, Desh Bhagat University, Mandi Gobindgarh, Punjab.
2Assistant Professor, Department of Business Management and Commerce, Desh Bhagat University, Mandi Gobindgarh, Punjab.
Abstract
In the study India’s top Life Insurance Companies have been selected on the basis of popularity and variety of products. A thorough examination of financial statement analysis is necessary to determine whether a stock is worthy of investment. Five financial years, spanning from 2018–19 to 2022–2023 have been considered. The research aims to evaluate the financial results of a subset of Indian insurance firms, analyze their overall performance, and provide a ranking to these businesses based on their overall performance. This study’s primary goal is to support decision-making for policyholders and investors. The suggested study combines empirical and explanatory research methods. The required data inputs for the study project were taken from the insurance firms’ publicly available quarterly, half-yearly, and annual reports, which include both statutory and non-statutory disclosures.
Keywords: Financial Analysis, Independent Auditor’s Report, Annual Report, Financial Ratios, Premium, Total Incomes, Profitability, Solvency, Earnings, Net Worth and Claim Settlement.
Impact statement
After taking into consideration all the important financial parameters, it has been observed that Life Insurance Corporation of India is doing the best among the selected sample. A growth has been observed in the SBI Life Insurance Company (2nd Ranked), Bajaj Allianz Life Insurance Company (3rd Ranked) and HDFC Life Insurance Company (4th Ranked) are performing well in their field. Thus, it can be suggested that, in order to maximize their long-term value, investors might place their hard-earned money in the shares of these insurance businesses. Additionally, it can be emphasized that people should not be hesitant to get insurance from these firms
About The Author
Mr. Puneet Khanna is a Research Scholar in the Department of Business Management and Commerce at Desh Bhagat University, Mandi Gobindgarh, Punjab. He is dedicated to advancing knowledge in the field of business management and commerce through his academic pursuits and research contributions.
References
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Bajaj Allianz life insurance company. https://www.bajajallianz.com/about-us/financial-information.html
Canara HSBC OBC life insurance company. https://www.canarahsbclife.com/public-disclosures
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ICICI prudential life insurance company. https://www.iciciprulife.com/aboutus/inestor-relations/yearly-public-disclosures.html
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Max Life Insurance Company. https://www.maxlifeinsurance.com/newsroom/public-disclosures
PNB MetLife India insurance company. https://www.pnbmetlife.com/investor-relations/public-disclosures/financial_disclosure/2022-2023.html
SBI Life Insurance Company. https://www.sbilife.co.in/en/about-us/investor-relations/annual-reports
Tata Aia Life Insurance Company. https://www.tataaia.com/about-us/public-disclosure.html