Comparative analysis of ICICIGC and UIIGC

Abstract

Due to the fact that the time range of the study falls within the post-liberalization period, the analyses are exclusively restricted to the open market environment. UIIGC, a select public sector firm, is an established participant in the field of general insurance. It has a history that spans years, making it comparable to ICICIGC, a company that operates in the private sector. ICICIGC, being a firm that belongs to the private sector, has conducted its commercial activities with extreme caution ever since the year it was established. The entirety of the corporation is owned by private stockholders, while a foreign direct investment contributes 26% of the total capital. In spite of the significant amount of time that has passed since the company first began for business, it has not established any overseas branch offices in any country. Initially, it focused on inland business that was associated with auto insurance, but it has now shifted its attention to other classes of insurance in an effort to strategically expand the number of premiums that it collects. As a direct result of this, the company's operational profits have been growing at a faster rate than the operating profits of its competitors. Because of its corporate philosophy, the UIIGC has never attempted to sell cutting-edge or socially relevant insurance products to its customers.