A Comparative Study on Performance of Public and Private Insurance Companies in Indian Insurance Industry

Sudipta Kayal
Assistant Professor in Economics, Savitri Girls College, 13, Mukta Ram Babu St. Kol-07. Email : kayalsudipta01@gmail.com

Volume VII, Number 1, 2017 I Full Text PDF

Abstract
Insurance is primarily a risk management mechanism. Risk of loss-income property or even human life-is transferred, in part or in full, to the insurer. That apart, insurance business helps in capital accumulation to use in nation building activities. Insurance sector not only plays a leading role within financial system in a country but also has an important socio-economic function. Insurance facilitates economic development. The objective of Nation is to build an efficient and stable insurance sector in India that will support both the needs of the real economy and the socio economic objectives of country. This paper is an attempt to analyse the performance of public and private life insurance companies in India.

Keywords: Life Insurance Companies, Insurance Premium, Insurance Policies, Insurance Offices, Economic
Development.