A Comparative Study on the Financial Performance of Selected Insurance Companies in India

Since there are more earning opportunities in the insurance sector in India, many new private companies have entered this sector in the last few years. However, LIC still has the largest share in the life insurance sector. Even today people of India are trusting LIC more than other private companies. On the contrary, people are placing more trust in private companies for general insurance and health insurance. The present study compares the two largest insurance public sector companies in India, LIC and GIC. This research is purely based on secondary data. A comparative study has been done by using some financial ratios of selected companies for the last five years. ANOVA has been used to test the hypotheses. The results of the research reveal that there is no significant difference in the performance of LIC and GIC. The financial performance of both companies is satisfactory.