Journal Press India^®

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Insurance industry has been transformed to a greater extent after privatisation and enactment of IRDA act where more number of foreign players entered into the insurance market. Competition among the firms has been increased today motto of general insurance companies are nit only booking profits but also serving in the competitive market irrespective of the size of the organization either large or small since then the performance of the general insurance companies has been found relevant thus this research paper shall try to aim at studying the financial soundness and comparative efficiency of 4 general insurance companies operating in india by using CARAMEL model over 15 years data from 2006-07 to 2020-21 has been analysed during the study. The finding of the paper was that the performance was analysed on 6 parameters. The paper shall try to conclude that oriental insurance company is been performing better when compared with the rest of the public sector companies during the study period.

Keywords

Financial soundness; comparative efficiency; public sector general insurance; CARAMEL Model

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