2022, Vol. 3, Issue 2, Part A
Comparative financial performance analysis of public sector general insurance companies in Himachal Pradesh
Author(s): Pooja Devi and Dr. Suresh Kumar
Abstract: The main purpose of insurance as a risk management tool is to protect against the possibility of a contingent loss. It is described as the exchange of a premium for the risk of a prospective loss being transferred from one organization to another. Insurance covers circumstances where a loss may or may not happen. It is inapplicable when the loss is anticipated to occur. The Industrial Revolution in the West and the ensuing expansion of maritime trade and industry in the 17th century are both responsible for the introduction of general insurance in India. It was left behind by the British occupation in India. Through their offices in India, British and other foreign insurance companies conducted this business. It protects against losses brought on by unforeseen circumstances including accidents, illness, fire, and theft. General insurance, in contrast to life insurance, serves as protection against unforeseen events rather than providing any financial return. General insurance policy may be termed as a contract of indemnity as the insurer normally makes good the actual amount of the loss suffered. Research Question raised after reviewing of literature: is there any difference among expected and actual Gross Direct Premium of selected Public Sector general insurance companies. Research has been to know the trend of Gross Direct Premium of selected Public Sector general insurance companies. Scope of the present study is Public Sector general insurance companies: The New India Assurance Company Limited (NIACL), The Oriental Insurance Company Limited (OICL), The United India Insurance Company Limited (UIICL) and the National Insurance Company (NICL) Limited have been selected for the present study. As for as the analysis and interpretation is concerned the trend, chi-square and under the time series analysis Least square method has been applied for the present paper.
Pages: 31-36 | Views: 329 | Downloads: 206
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How to cite this article:
Pooja Devi, Dr. Suresh Kumar. Comparative financial performance analysis of public sector general insurance companies in Himachal Pradesh. Asian J Manage Commerce 2022;3(2):31-36.