📄 Abstract
The Insurance Industry in India has been initiated behind among the other developing countries in the world. The concept of General Insurance was established in India about 150 years ago. The insurance industry is divided into two segments as, Life Insurance and Non-Life Insurance. The former was nationalized in 1956 and the latter was nationalized in 1973. The Insurance Industry is regulated by IRDA (Insurance Regulatory and Development Authority) of India. The IRDA was enacted in the year 1999, which consists of one life insurer and five public sector non-life insurer. In the year 2007, it was increased to 16 life insurers and 15 non-life insurers. The General Insurance Companies are non-life insurers which currently involve in reinsurance business which is the national reinsurer. The present study focuses on the overall performance of General Insurance Industry in India, their financial efficiency for the period 2015-2016 to 2019-2020.
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📚 How to Cite:
Vetri Selvi.V, Dr.N.Markkandeyan , AN EMPIRICAL ANALYSIS ON PERFORMANCE OF GENERAL INSURANCE INDUSTRY IN INDIA , Volume 7 , Issue 7, july 2021, EPRA International Journal of Multidisciplinary Research (IJMR) ,