Shodh Sari-An International Multidisciplinary Journal
Vol-04, Issue-01 (Jan-Mar 2025)
An International scholarly/ academic journal, peer-reviewed/ refereed journal, ISSN : 2959-1376
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.
Received: Nov 04, 2024
Accepted: Dec 17, 2024
Published: Jan 01, 2025
Thematic Classification: Indian Insurance Sector, Financial Performance Analysis, Comparative Insurance Study, Profitability Ratios, Financial Management, Corporate Finance.
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.
Cite this Article
APA 7th Style: Khanna, P., & Kumar, M. (2025). An analysis of selected indian insurance companies in comparison based on financial performance. Shodh Sari-An International Multidisciplinary Journal, 4(01), 202–216. https://doi.org/10.59231/SARI7788
Chicago 17th Style: Khanna, Puneet, and Manoj Kumar. “An Analysis of Selected Indian Insurance Companies in Comparison Based on Financial Performance.” Shodh Sari-An International Multidisciplinary Journal 4, no. 1 (2025): 202–216. https://doi.org/10.59231/SARI7788.
MLA 9th Style: Khanna, Puneet, and Kumar, Manoj. “An Analysis of Selected Indian Insurance Companies in Comparison Based on Financial Performance.” Shodh Sari-An International Multidisciplinary Journal, vol. 4, no. 1, 2025, pp. 202-216, https://doi.org/10.59231/SARI7788.
Statements & Declarations
Review Method: This article underwent a double-blind peer-review process by two independent external experts in Financial Accounting and Risk Management to ensure the accuracy of the ratio analysis and the validity of the comparative financial frameworks.
Competing Interests: The authors (Puneet Khanna and Manoj Kumar) declare that there are no financial, personal, or professional conflicts of interest that could have inappropriately influenced the research findings or the performance evaluations presented in this study.
Funding: This research was conducted as part of the authors’ academic and research activities at Desh Bhagat University, Mandi Gobindgarh. No specific external grants or commercial funding from the insurance industry were received for this work.
Data Availability: The analysis is based on secondary data extracted from the annual reports of selected public and private insurance companies and IRDAI (Insurance Regulatory and Development Authority of India) publications. All financial ratios and comparative datasets are available within the manuscript or from the authors upon request.
License: An Analysis of Selected Indian Insurance Companies in Comparison Based on Financial Performance © 2025 by Puneet Khanna and Manoj Kumar is licensed under CC BY-NC-ND 4.0. This work is published by the International Council for Education Research and Training (ICERT).
Ethics Approval: As this study is an analytical review of publicly available financial statements and does not involve direct experimentation on human participants, it was deemed exempt from formal ethical review by the Institutional Research Committee of Desh Bhagat University.
References
Aditya Birla sun life insurance. https://lifeinsurance.adityabirlacapital.com/about-us/public-disclosure
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
Shaikhsipai, M., & Lakhani, B. A. (2024). COHORT ANALYSIS OF SAVINGS AND INVESTMENT STRATEGIES AMONG WORKING WOMEN IN AHMEDABAD CITY. Shodh Sari-An International Multidisciplinary Journal, 03(01), 134–148. https://doi.org/10.59231/sari7661
HDFC Life Insurance Company. https://www.hdfclife.com/about-us/public-disclosure
ICICI prudential life insurance company. https://www.iciciprulife.com/aboutus/inestor-relations/yearly-public-disclosures.html
Life Insurance Corporation (LIC) India Company. https://licindia.in/public-disclosure
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