Published Paper Details:

Insurance is a financial risk management tool in which the insured transfers a risk of potential financial loss to the insurance company that mitigates it in exchange for money compensation known as premium. Insurance sector in India is one of the fastest growing sectors in the economy. The insurance sector in India has completed a full circle from an open competitive market to nationalization and back to a liberalized market once again. With the entry of private life insurance companies in the year 2000-01, the competition is becoming tougher day by day. The objective of present study is to compare public and selected private sector life insurance companies in India in the post liberalization era. Therefore, 23 private sector insurance companies and one public sector company i.e. Life Insurance Corporation of India have been selected and data has been analysed by mean, standard deviation, coefficient of variance (CV) and compound growth rate (CGR). In this the data was collected from the year 2000-01 to 2020-21 year and analysed. Hence, it is found that insurance sector in our country has a significant contribution for economic development of our country as it provides long-term funds for infrastructure development and at the same time it helps strengthening the risk taking ability of the country. During the deregulation period, due to emergence of a large number of private insurers, the insurance penetration and insurance density have increased significantly both in respect of life-insurance and non-life insurance business.