FINANCIAL ANALYSIS OF AMIT KUMAR 3020070044 RR1709B34 BBA-MBA(5TH)
About insurance. Some major players in private sector. About ICICI prudential life insurance co. Products. Achievements Financial management. Financial comparison with other company. My work. Objective of the study. Sources of finance. Financial analysis of company. Findings. Limitations. Recommendations. Contents
Insurance Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed and known small loss to prevent a large, possibly devastating loss.
ABOUT THE COMPANY Joint venture b/w ICICI bank & prudential life insurance company. ICICI bank has 76% of stake & rest is of prudential. ICICI bank is India’s 2nd largest bank. Prudential is international financial service group having headquarter in U.K. It started its operations in December 2000, after getting approval by IRDA & today this is the no. 1 co. in private sector in India.
ICICI Prudential Life is all about…… Wealth Health Life Total Protection We cover you at every step in life
unaudited earnings Rs. 36,340 million. Partnership with McLeod Russel India. Company has opened new 1375 offices in 2008. India's Most Customer Responsive Insurance Company. Prudence Customer Centricity Award 2007 & 2008 Prudential Corporation Asia. Recent achievement
products ICICI Prudential Life Insurance offers a range of innovative, customer-centric products that meet the needs of customers at every life stage. Its products cab is enhanced with up to 6 riders, to create a customized solution for each policyholder. Products -Savings Solutions. -Protection Solutions. -Child Solutions. -Market-linked Solutions. -Retirement Solutions. -Health solutions. Riders -Accident & disability benefit -Accident benefit -Critical Illness Benefit -Major Surgical Assistance Benefits -Income Benefit -Waiver of Premium
Finance function in ICICI Prudential is committed to create an infrastructure that is aligned to shareholder expectations. Basically it includes four functions:
It is the ratio which tells us about how much net profit is generated by sales.
This ratio tells us what is the company’s position to pay off its total debt through its total asset. Debt ratio
This ratio indicates relation between the net income generated and the total assets. Return ratio
More charges is taken from customers. Company may face problems to pay their short term liability. Company was not earning the profit till 2008. Company is doing better this year as compare to previous year. Findings
Limited time. Company doesn’t provide annual report. Lack of accurate data. No cooperation by financial department to trainee. limitations
Brand image Money power, larger network branches, large portfolio (in built fund hedge), price competitive products and low upfront charge Strength
Little product differentiation. Most of the plans too complicated to understand. More centered in urban areas. More allocation charges. Weakness
Insurance coverage both to the parent & children in one plan. Leverage the customer base of bancassurance partner. Rural market. Opportunity
Players like Bajaj Allianz with low premium for same plan. LIC offering huge surplus in life fund. New entrance. Threats
Company should care about fund management so that it can do better in future. Should take less charges from customers. Should provide annual report. Should cooperate with trainee & give proper knowledge to them. Recommendations