PERFORMANCE EVALUATION OF LIFE INSURANCE SECTOR: A COMPARATIVE STUDY OF PUBLIC SECTOR & PRIVATE SECTORS

Abstract

Future is associated with uncertainty. Uncertainty is a universal risk for the mankind. Such type of risk is to be controlled or avoided or financed by everybody. Many types of risk management techniques are there. Insurance is one of the best risk financing techniques. With reforms of regulations and opening up of the insurance sector to the private management in the year 1999, it can be seen the tough competition in the insurance industry. The number of General insurance and Life insurance companies has been increasing in the 21st century. The ultimate person is an investor or customer, who has to get the update information, observe keenly the performance of the companies and their attractive products. In this context, the evaluation of financial performance of the life insurance companies in both public and private companies are essentially needed to select a best life insurance policy.