A Study on Performance Evaluation of General Insurance Subsidiary Companies of Virudhunagar District

Abstract

India’s general insurance industry serves as a vital pillar in protecting individuals, businesses, and assets against unforeseen risks. Over time, the sector has experienced significant expansion, with both public and private entities offering a diverse range of insurance solutions. Subsidiary firms, owned by larger corporate groups, play a key role in driving market growth by enabling these organizations to diversify their operations while concentrating on specific insurance segments or geographic areas. However, evaluating the performance of these subsidiaries is essential to ensure they align with the broader strategic objectives of their parent companies and contribute effectively to overall business success. Virudhunagar district in Tamil Nadu, which, like many parts of rural and semi-urban India, has seen an increase in insurance penetration. The presence of subsidiary companies in this region is vital as it allows them to tap into a growing market with specific needs. The study focuses on evaluating how well these subsidiary companies are performing in terms of financial stability, operational efficiency, and customer satisfaction.