Major Life and Non-life Insurance Players in India

Life is uncertain and unpredictable. One can only have a proactive measure in place to deal with unpleasant situations. Hence, the concept of ‘insurance’ was introduced with a motive to mitigate the risk and to provide protection. Insurance is the primary way of managing life risk.

There are various types of insurance policies available today to protect your loved ones and the things you love. In a life insurance policy, Insurance indemnifies to pay the insured person’s family a certain sum of money in the event of insured’s demise. When it comes to choosing the right insurance plan, you are spoilt with choices as there are various insurance players in the market offering plenty of unique plans.

In India, there are 24 life insurance companies operating which have been approved and recognised by IRDAI (Insurance Regulatory and Development Authority in India), which is a regulatory body for insurance and reinsurance industries.

The insurance industry of India has 57 insurance companies – 24 are in the life insurance business, while 33 are non-life insurers. Among the life insurers, Life Insurance Corporation (LIC) is the sole public sector company. There are six public sector insurers in the non-life insurance segment. In addition to these.

The following are the major life and nonlife insurance players in India as approved by the Insurance Regulatory and Development Authority of India (IRDAI).

Major Life Insurers

Life Insurance Corporation (LIC)

Max Life Insurance Company

HDFC Life Insurance Company

ICICI Prudential Life Insurance

Tata AIA Life Insurance Company

Bharti AXA Life Insurance Company

Bajaj Allianz Life Insurance Company

SBI Life Insurance Company

Reliance Nippon Life Insurance Company

AEGON Life Insurance Company

Aviva Life Insurance Company

Birla Sun Life Insurance Company

Kotak Life Insurance Company

PNB MetLife Insurance Company

Canara HSBC OBC Life Insurance Company

Major Non-Life Insurers

Agriculture Insurance Co. of India Ltd.

Bajaj Allianz General Insurance Co. Ltd.

Bharti Axa General Insurance Co. Ltd.

Cholamandalam MS General Insurance Co. Ltd.

Manipal Cigna Health Insurance Co. Ltd.

Export Credit Guarantee Corporation of India Ltd.

Future Generali India Insurance Co.

HDFC ERGO General Insurance Co.

ICICI Lombard General Insurance Co. Ltd.

IFFCO Tokio General Insurance Co. Ltd.

L&T General Insurance Co. Ltd.

Liberty Videocon General Insurance Co. Ltd.

Magma HDI General Insurance Co. Ltd.

Max Bupa Health Insurance Co. Ltd.

National Insurance Co. Ltd. Read More…

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ashok725 "Aks"

Hi ! I am Ashok Sharma. I studied at Maharishi Dayanand University, Rohtak, Haryana, India. Reading and writing have been my hobbies since childhood. Do not try to plan everything in the very last detail. Just create it, publish it and get feed back from you. But if you really want to grow then you will need points of leverage and most of them come from knowing people. Change is going to be continuous. It is a beginning, not an end. It will be my constant endeavor to thank the readers for their love, guidance and interest that I can do better than ever……..

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