A Study of Disclosures on Risk Management of Life Insurance Companies in India

B. R. Hariharan; Vedala Naga Sailaja; Kalp Vinodchandra Patel

doi:10.17010/ijf/2017/v11i1/108959

Authors

B. R. Hariharan Research Scholar, K L University, Greenfields, Vaddeswaram, Guntur District, Andhra Pradesh - 522 502
Vedala Naga Sailaja Assistant Professor, KLUBS, K L University, Greenfields, Vaddeswaram, Guntur District, Andhra Pradesh - 522 502
Kalp Vinodchandra Patel Student of Second Year PGDM 15-17, Great Lakes Institute of Management, Dr. Bala V. Balachandar Campus, East Coast Road, Manamai Village Thirukazhukundram Taluk, Kancheepuram District - 603 102, Tamil Nadu

DOI:

https://doi.org/10.17010/ijf/2017/v11i1/108959

Keywords:

Life Insurance Companies

, Risk Management Frame Work, Risk Governance, IRDAI, Policies and Regulation, SEBI

G22

, G28, G31

Paper Submission Date

, May 28, 2016, Paper sent back for Revision, August 29, Paper Acceptance Date, October 20, 2016.

Abstract

This study attempted to find out different reporting practices used by Indian life insurance companies for risk management and risk governance in their annual reports. The factors considered for assessing the quality of the disclosure were risk management framework, risk governance, the independence and profile of chief risk officer, risk policies they explained, and quality certification they have obtained. The study showed that there was a very wide variation in content of their disclosures although every company was following the same corporate governance guidelines of the Insurance Regulatory and Development Authority of India (IRDAI).