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EVALUATING FIRST-YEAR LIFE INSURANCE PREMIUM TRENDS IN INDIA - LIC COMPARED TO PRIVATE INSURANCE PLAYERS

  • Unique Paper ID: 169569
  • Volume: 11
  • Issue: 6
  • PageNo: 1624-1628
  • Abstract:
  • The Indian life insurance market has witnessed remarkable growth since its liberalization, marked by the coexistence of the public sector giant Life Insurance Corporation (LIC) and a growing number of private life insurers. The Indian life insurance market has seen significant evolution since the liberalization of the insurance sector in 2000, leading to increased competition between the public sector Life Insurance Corporation of India (LIC) and private life insurance companies. This paper offers a comparative analysis of the first-year life insurance premiums of LIC and private life insurers over the period 2000-01 to 2020-21. Using data from IRDA Annual Reports, the study examines growth trends, market dynamics, and the performance of the two segments based on key metrics such as Compound Growth Rate (CGR), standard deviation (SD), and Coefficient of Variation (CV). The findings reveal critical insights into the relative strengths of LIC and private insurers and their impact on the overall insurance sector in India.
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Cite This Article

  • ISSN: 2349-6002
  • Volume: 11
  • Issue: 6
  • PageNo: 1624-1628

EVALUATING FIRST-YEAR LIFE INSURANCE PREMIUM TRENDS IN INDIA - LIC COMPARED TO PRIVATE INSURANCE PLAYERS

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Impact Factor
8.01 (Year 2024)
UGC Approved
Journal no 47859

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