Abstract
Insurance is seen as a dependable instrument for mobilizing public funds and has been playing a significant role in both developed and developing countries. The insurance industry in India has experienced a lot of transformations, including nationalization, privatization, deregulation, regulation, and globalization. Numerous private firms with the backing of foreign investors have been able to enter the market as a result of liberalization. A fierce rivalry between private and public sector firms, as well as among private sector competitors, has defined the Indian life insurance market since 2000. In light of this, the purpose of this study is to use metrics from the CARAMEL framework to investigate the capital adequacy profitability and earnings performance of ICICI Life and SBI Life from 2017–18 to 2021-22. A t-test is used to analyze the data further, and the findings show that there is no considerable difference in the financial results of particular insurers.
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