Trade Analytics
Insurance
The total market size of the insurance sector in India is projected to touch US$ 350-400 billion by 2020.

Life Insurance Companies in India

Latest update: December, 2016

LIC Continues to Dominate Life Insurance Segment

  • As of 2016, life insurance sector has 29 private players in comparison to only four in FY02
  • With 70.4 per cent share market share in FY16, LIC continues to be the market leader, followed by SBI (5.1 per cent), ICICI (4.9 per cent) and HDFC (4.1 per cent)

Life Insurance Market Appears Vibrant

  • The life insurance market grew from US$ 10.5 billion in FY02 to US$ 27.5 billion in FY16
  • Over FY02–FY16, life insurance premiums expanded at a CAGR of 7.5 per cent.
  • The life insurance industry has the potential to grow 2-2.5 times by 2020 in spite of multiple challenges supported by long-term trends and fundamentals underlying household savings.

 

Apollo Munich Health Insurance

Quality healthcare and Apollo have become synonymous in the Indian subcontinent, a fact reiterated by global healthcare experts and international accreditation bodies. Committed to bring world class health care within the reach of every individual, Apollo Hospitals Group has joined hands with Munich Health, a world leader in the field of health i...

Read More >

Insurance Sector in India

Liberty Videocon General Insurance Company Ltd is a joint venture between the Videocon Industries Ltd and Liberty Citystate holdings PTE Ltd, a group company of US based Liberty Mutual Group, a leading global property and casualty group. With Liberty Mutual's 100 years of supervision in the insurance industry globally, Liberty Videocon Gene...

Read More >

Kotak Mahindra Life Insurance

Kotak Mahindra Old Mutual Life Insurance Ltd is a 74:26 joint venture (JV) between Kotak Mahindra Bank Ltd, its affiliates, and Old Mutual. Kotak Mahindra is one of India's leading banking and financial services organizations, offering a wide range of financial services that encompass every sphere of life. From commercial banking, to stock broking...

Read More >

Bharti AXA Life

Bharti AXA Life is a life insurance player that was started in 2006. The company brings together strong financial expertise of the Paris-headquartered AXA Group and Bharti Enterprises - one of the India's leading business groups with interests in telecom, agricultural business, financial services, and retail. The joint venture (JV) has a 51 p...

Read More >

Bajaj Allianz General Insurance Company Ltd

It's is a joint venture between Bajaj Finserv Ltd (recently demerged from Bajaj Auto Ltd) and Allianz SE. Both enjoy a reputation of expertise, stability and strength. Bajaj Allianz received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on May 2, 2001 to conduct various businesses (including health insuran...

Read More >

Reliance Life Insurance Company

Reliance Life Insurance Company (RLIC) is amongst the top five private sector life insurance companies in terms of individual weighted received premium (WRP) and new business WRP. The company has over 1 crore policy holders with a strong distribution network of over 900 branches with over 100,000 agents as of March 31, 2014. Reliance Life offers li...

Read More >

Max Life Insurance

Max Life Insurance, one of the life insurers, is a joint venture (JV) between Max India Ltd and Mitsui Sumitomo Insurance Co Ltd. Max India is an Indian multi-business corporate, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, a general insurer. Max Life Insurance offers comprehensive life insurance and retirement solutions fo...

Read More >

Future Generali India Life Insurance Company

Future Generali is a joint venture (JV) between India's leading retailer Future Group and Italy-based insurance major Generali. The company was incorporated in 2006 and brings together the unique qualities of both the founding companies - local experience and knowledge with global insurance expertise. Future Generali operates in both Life and Ge...

Read More >

Exide Life Insurance Company Limited

Exide Life Insurance Company Ltd was formerly known as ING Vysya Life Insurance Company Ltd. It commenced operations in 2001 and is headquartered in Bengaluru. The company is fully owned by Exide Industries Ltd and is part of a 100-year-old brand heritage in India. The company is profitable and serves over one million customers across India and man...

Read More >

LIC

The Life Insurance Company or LIC is an Indian state-owned insurance group and investment company which was established with the passing of the Life Insurance Corporation Act on June 19, 1956 in the Parliament of India. It was formed from a merger of about 154 Indian insurance companies, 16 non-Indian and 75 provident companies. Initially, in 19...

Read More >

Birla Sun Life Insurance

Birla Sun Life Insurance Company Ltd(BSLI) is a joint venture (JV) formed in 2000, between the Aditya Birla Group, a well-known Indian conglomerate and Sun Life Financial Inc, one of the leading international financial services organisations from Canada. With experience of over a decade, BSLI has contributed to the growth and development of the Ind...

Read More >

HDFC LIFE

HDFC Life was founded in 2000. It is a joint venture (JV) between Housing Development Finance Corporation (HDFC) and Standard Life plc of United Kingdom. HDFC Ltd has 72.37 per cent equity in the venture while Standard Life has 26 per cent of equity, with the rest lying with others. HDFC Life has a product portfolio which comprises solutions for...

Read More >

ICICI Prudential

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse, and Prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approv...

Read More >

Tata AIA Life

Tata AIA Life Insurance Co Ltd (Tata AIA Life) is a joint venture (JV) company, formed by Tata Sons and AIA Group Ltd (AIA). Tata AIA Life combines Tata's preeminent leadership position in India and AIA's presence as the largest, independent listed pan-Asia life insurance group in the world spanning 15 markets in Asia–Pacific. Tata Sons holds a...

Read More >

SBI Life

SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Cardif. SBI owns 74 per cent of the total capital and BNP Paribas Cardif the remaining 26 per cent. SBI Life Insurance has an authorized capital of Rs 2,000 crores (US$ 332.96 million) and a paid up capital of Rs 1,000 crores (US$ 166.56 million). SBI Life has a un...

Read More >

New India Assurance

New India Assurance Co Ltd, today, is a 100 per cent Government owned multinational general insurance company operating in 22 countries and headquartered at Mumbai, India. New India Assurance global business crossed Rs 12,500 crore (US$ 2.01 billion). Founded by Sir Dorabji Tata in 1919, it is the market leader in non-life business in India for m...

Read More >

Posters

Brand India Pharma

LIFE INSURANCE COMPANIES IN INDIA

+ More >

Brand India Pharma

IBEF Publications

IBEF Publication

India Now Magazine


India Now Business and Economy

English

+ More Publications >

IBEF Publication

Blog – Perspectives on India More

Powered by the Who's Who of India

author_Anu_P._Mathai_photo_1_-_mobile_photo_1.jpg Benchmarking Indian leather products across the world
Anu P. Mathai, IES, Chief Executive Officer, IBEF

India’s leather industry has moved progressively, transforming from a raw material supplier to a value-added product exporter over the past few decades. The country...

author_saurav-ghosh3.jpg Economic Liberation of Panchayats
Saurav Ghosh, Social Entrepreneur

Panchayats, hidden in plain sight, may just be the answer to improving agriculture productivity in India...

author_Anu_P._Mathai_photo_1_-_mobile_photo_1.jpg Brand India makes its presence felt at Arab Health 2017
Anu P. Mathai, IES, Chief Executive Officer, IBEF

Over 100 Indian companies participated at Arab Health 2017, the largest healthcare exhibition & medical congress in the Middle East and the second largest in the worl...

author_Rahul-Garg.png GST a game changer for manufacturing industry: Are you ready?
Rahul Garg, Founder & CEO, Moglix

GST, the “most significant tax reform” so far in India is poised to enable India Inc to operate under a one-country one market philosophy. One of the biggest ...

author_Anu_P._Mathai_photo_1_-_mobile_photo_1.jpg Government e-Marketplace: A GeM for modern procurement
Anu P. Mathai, IES, Chief Executive Officer, IBEF

The Government of India has laid special emphasis on the reforms required in its public procurement process. In a major step that aims to transform the way in which procu...

author_Rohit-Poddar1.jpg How the government announcement will boost interest of consumers in the real estate sector
Rohit Poddar, Managing Director, Poddar Housing & Development Ltd.

The provisions of the erstwhile Rajiv Awas Yojana (RAY) scheme weren’t the brightest idea because practical implementation, in scale, was not feasible, and hence it...

ideas More

Ideas

Cutlery You Can Eat
Narayana Peesapaty, a former researcher at the International Water Management Institute of Hyderabad, has created an innovative edible cutlery, mainly made out of sorghum. The basic idea behind the innovation - replace plastic spoons – struck Narayana during a flight, upon observing fellow passengers..

JOIN IBEF.org

Join IBEF.org now. Enjoy FREE subscriptions downloads, updates and more.

Error

Already a member?
Login / Retrieve Password