Paper Details

Insurance is a risk management tool. It is used as a hedge against the risk of financial losses that may result from any probable eventualities. Insurance is broadly divided into life and non-life insurance. Non-life insurance has various segments like fire, marine, and miscellaneous comprising motor, health, travel, public liability, personal accident, aviation etc. Health insurance is an emerging service sector in India. Privatisation of insurance has paved way for the emergence of many private-sector companies. Health insurance products are offered by both by Government and private insurance companies. A few private companies focus on health insurance as their only line of business. The four Government players, private players with all insurance products, and the standalone health insurance companies are competing to occupy the market while offering a variety of products to the general public. This study focuses on the performance of select health insurance companies in India. The New India Assurance Company Ltd, a public sector company, ICICI Lombard, and Star Health and Allied Insurance Company Ltd are considered for the present study. The data required for the study is obtained from secondary sources like annual reports of the companies, IRDAI and various research articles, and published journals. Earning ratios like Gross Premium Growth Rate, Net Retention, Incurred Claims, and Expense ratios are studied to analyze performance while liquidity ratios and solvency parameters were studied to analyse the overall position of the select companies over the last twelve years ie from 2010-11 to 2021-22.

Health Insurance, Premium, Claims ratios, Solvency, performance, Return on Net worth