Vol. 6, Issue 1, Part D (2020)

Abstract
Insurance sector plays very crucial and indispensable role in the financial system of the country. This industry does not only grease the wheels towards savings of money and pass on the risks arising but also helps in channelizing the earnings aptly and in a pertinent way staring from the surplus units to shortfall and dwindled units in the economy by aiding the investment activities. In order to facilitate this aid, the companies should be in the pink financially, maintaining their efficiency and creating the strong assets base. This paper aims to analyze the financial soundness and the efficiency of the insurance company with a comparative analysis of the General Insurance Company of India and The Bajaj Allianz general Insurance co. ltd. depicting the overall results using the financial indicators of CARAMEL Framework based on Ratio analysis and statistical tools like Independent Samples T-test.