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Analysing the Technical Efficiency and Productivity Change of Life Insurance Companies in India

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The Life Insurance Industry in India

Abstract

This chapter analyses technical efficiency of the Indian life insurance industry comprising 13 life insurance companies for the period 2002–2003 to 2014–2015. Data envelopment analysis (DEA) is employed to measure technical efficiency, and Malmquist productivity index is used to measure productivity change. The results imply that deregulatory efforts might have had only marginal effect on productivity and efficiency of the Indian life insurance industry.

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Authors and Affiliations

  1. Economic Research Department, State Bank of India, Corporate Centre, Mumbai, Maharashtra, India

    Tapas Kumar Parida

  2. School of Economics, University of Hyderabad, Central University, Hyderabad, India

    Debashis Acharya

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  1. Tapas Kumar Parida
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  2. Debashis Acharya
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Appendix: Sample of Life Insurance Companies

Appendix: Sample of Life Insurance Companies

S. no.

Insurers

Foreign partners

Date of registration

Year of operation

Head office

1

Life Insurance Corporation of India

–

1.9.1956

1956–1957

Mumbai

2

HDFC Standard Life Insurance Company Ltd.

Standard Life Assurance, UK

23.10.2000

2000–2001

Mumbai

3

Max Life Insurance Company Ltd.

New York Life, USA

15.11.2000

2000–2001

Gurgaon

4

ICICI Prudential Life Insurance Company Ltd.

Prudential Plc, UK

24.11.2000

2000–2001

Mumbai

5

Kotak Mahindra OM Life Insurance Company Ltd.

Old Mutual, South Africa

10.1.2001

2001–2002

Mumbai

6

Birla Sun Life Insurance Company Ltd.

Sun Life, Canada

31.1.2001

2000–2001

Mumbai

7

TATA AIA Life Insurance Company Ltd.

American International Assurance Co., USA

12.2.2001

2001–2002

Mumbai

8

SBI Life Insurance Company Ltd.

BNP Paribas Assurance SA, France

29.3.2001

2001–2002

Mumbai

9

Exide Life Insurance Company Ltd.

–

02.8.2001

2001–2002

Bangalore

10

Bajaj Allianz Life Insurance Company Ltd.

Allianz, Germany

03.8.2001

2001–2002

Pune

11

PNB MetLife India Insurance Company Ltd.

MetLife International Holdings Ltd., USA

06.8.2001

2001–2002

Bangalore

12

Reliance Life Insurance Company Ltd.

–

03.1.2002

2001–2002

Mumbai

13

Aviva Life Insurance Company Ltd.

Aviva International Holdings Ltd., UK

14.5.2002

2002–2003

Gurgaon

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Parida, T.K., Acharya, D. (2017). Analysing the Technical Efficiency and Productivity Change of Life Insurance Companies in India. In: The Life Insurance Industry in India. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-10-2233-3_2

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  • DOI: https://doi.org/10.1007/978-981-10-2233-3_2

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