Abstract
The present study conducts a comparative evaluation on the financial performance of general insurers in India based on the ratios analysis. The current research tries to figure out the statistical significance level of similarity between an insurer and the best performing insurer in its group for each ratio and also between public and private insurers using the t-test. However, since the t-test assumes normality in the sample sets under test, all those ratios which do not satisfy the normality assumption are analyzed using Mann-Whitney U test. Normality has been checked using Kolgomorov-Smirnov test adjusted to Lilliefors corrections and Shapiro-Wilks test. The study includes four public sector and four private sector insurers. All the ratios considered cover the data for the period 1994–95 to 2005–06 for public insurers and post-liberalization period 2001–02 to 2005–06 for private insurers.
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