Gap Analysis and Recommendation Report on Health, Safety and Environmental Issues W.R.T. ISO 14001 & OHSAS 18001 International Standards in Pensy Garments (A Textile Industry) (with CD)

Abstract

This report provides the knowledge and tools for analyzing the economics of the insurance companies and for assessing it through financial statement data. It emphasizes on the comparison of the five year data of the general insurance companies. Performance is a measure for evaluation of a firm’s efficiency and profitability, financial assessment of a company is done to quantify the firm’s performance in terms of liquidity and productivity. The Pakistani insurance sector is under-developed and under utilized and people of Pakistan are still reluctant to insure their important possessions. The need of the time is to create awareness in the common citizens as this will lead to expansion of insurance business. Analysis of financial statements is a major area of concern that has developed over several years. This continues today to meet the needs of changing society. Part-I of the thesis contains the brief history and information about the background of the general insurance companies. The act and ordinance 2000 are included in support to analysis of the functionality of the firms. Part-II evolves around the ratio analysis of the companies. Terms identified such as Investment income, claims, premium, underwriting profit and ratios such as expense and loss ratios are statistically analyzed for the previous years separately. Finally, the research concludes with the comparison of both government and private sector companies operating in the business of non-life insurance. These corporations need to work hard to give a high raise to this industry by creating awareness amongst the common people to understand the nature of the business.