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De-Tariffication and Market Concentration in Non Life Insurance in India

Journal of Commerce and Accounting Research

Volume 8 Issue 4

Published: 2019
Author(s) Name: Gunjan, Narender Kumar Garg | Author(s) Affiliation: Assistant Professor, Shaheed Bhagat Singh College, University of Delhi, Delhi, India.
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Abstract

The historical step of de-tariffication has brought in various significant changes in Indian general insurance sector and change in concentration in the market is among one of them. Market concentration is used to study the dominance of major players in the market and about the level and nature of competition in the market. Present study measures the concentration in general insurance sector in India over the period 2002-2003 to 2012-2013 with an aim to examine the change in the market concentration level during the pre and post full de-tariffication period by using HHI concentration index and concentration ratios based on the gross direct premium of the insurance firms. Our study finds a decline in concentration during the post full de-tariffication period. The result also suggests that decline in the concentration level during post full de-tariffication is directly attributable to significant rise in entry of new firms.

Keywords: De-Tariffication, Concentration, IRDAI, Non Life Insurance, HHI, Concentration Ratios

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