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Research Paper | Finance | India | Volume 13 Issue 2, February 2024
A Comparative Analysis of the Growth of Public and Private Sector Life Insurance Companies in India, with a Study of Shriram Life Insurance Company Limited
Balanji Reddy Mora [2] | P. Meghana
Abstract: This comparative analysis examines the growth patterns of public and private sector life insurance companies in India, focusing specifically on Shriram Life Insurance Company Limited. The study reveals that while the private sector dominates the industry in terms of premium volume and average premium amounts, Shriram Life Insurance stands out as a smaller player with a niche market focus, consistently offering the lowest premium amounts. Despite this, the private sector earns the most from linked life insurance premiums on average. Shriram Life Insurance distinguishes itself by providing insurance plans at lower rates compared to its competitors. Additionally, the private sector maintains supremacy in the non-linked life insurance premium market, boasting higher mean revenue and lower variability compared to the public sector and Shriram Life Insurance. However, the private sector exhibits a wider range of premium revenue, indicating significant variation in the performance of private-sector life insurance companies. This analysis highlights the contrasting dynamics between the dominant private sector and the specialized approach of Shriram Life Insurance within the Indian life insurance industry.
Keywords: Life Insurance industry, Private sector, Shriram Life Insurance, Premium volume, Niche market focus
Edition: Volume 13 Issue 2, February 2024,
Pages: 758 - 765