Top 25 Life Insurance companies in India

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1. Life Insurance Corporation of India (LIC)

  • Founded: 1956
  • Type: Public sector
  • Headquarters: Mumbai
  • Key Focus: Traditional life insurance, endowment plans, pension and annuity products.
  • Remarks: Largest and oldest life insurer in India; government-owned.

2. HDFC Life Insurance Company Limited

  • Founded: 2000
  • Joint Venture: HDFC Ltd & Abrdn (formerly Standard Life)
  • Headquarters: Mumbai
  • Key Focus: Term plans, ULIPs, retirement solutions.
  • Remarks: Strong online presence and digital innovation.

3. Axis Max Life Insurance Company Limited

  • Joint Venture: Max Financial Services Ltd & Axis Bank
  • Headquarters: New Delhi
  • Key Focus: Protection, savings, child and retirement plans.
  • Remarks: Known for a large bancassurance network via Axis Bank.

4. ICICI Prudential Life Insurance Company Limited

  • Founded: 2000
  • Joint Venture: ICICI Bank & Prudential Plc (UK)
  • Headquarters: Mumbai
  • Key Focus: ULIPs, term plans, retirement products.
  • Remarks: First private insurer to be listed on the stock exchanges.

5. Kotak Mahindra Life Insurance Company Limited

  • Founded: 2001
  • Headquarters: Mumbai
  • Key Focus: Wealth creation, protection, child education plans.
  • Remarks: Part of the Kotak Mahindra Group.

6. Aditya Birla Sun Life Insurance Company Limited

  • Founded: 2000
  • Joint Venture: Aditya Birla Group & Sun Life Financial (Canada)
  • Headquarters: Mumbai
  • Key Focus: Term plans, ULIPs, savings, and retirement plans.

7. Tata AIA Life Insurance Company Limited

  • Founded: 2001
  • Joint Venture: Tata Sons & AIA Group (Hong Kong)
  • Headquarters: Mumbai
  • Key Focus: Protection, wealth, health, and retirement solutions.
  • Remarks: Known for a strong claims settlement ratio.

8. SBI Life Insurance Company Limited

  • Founded: 2001
  • Joint Venture: State Bank of India & BNP Paribas Cardif
  • Headquarters: Mumbai
  • Key Focus: Individual life, group insurance, pension plans.

9. Bajaj Allianz Life Insurance Company Limited

  • Founded: 2001
  • Joint Venture: Bajaj Finserv & Allianz SE (Germany)
  • Headquarters: Pune
  • Key Focus: ULIPs, term insurance, investment-linked products.

10. PNB MetLife India Insurance Company Limited

  • Founded: 2001
  • Joint Venture: PNB & MetLife International (US)
  • Headquarters: Mumbai
  • Key Focus: Term, savings, child plans.
  • Remarks: Strong network through PNB branches.

11. Reliance Nippon Life Insurance Company Limited

  • Founded: 2001
  • Joint Venture: Reliance Capital & Nippon Life (Japan)
  • Headquarters: Mumbai
  • Key Focus: Protection, investment and retirement products.

12. Aviva Life Insurance Company India Limited

  • Founded: 2002
  • Joint Venture: Dabur Group & Aviva Plc (UK)
  • Headquarters: Gurugram
  • Key Focus: Term, savings, and investment plans.

13. Sahara India Life Insurance Company Limited

  • Founded: 2004
  • Headquarters: Lucknow
  • Key Focus: Traditional plans and endowment policies.
  • Remarks: First wholly Indian-owned private life insurer.

14. Shriram Life Insurance Company Limited

  • Founded: 2005
  • Joint Venture: Shriram Group & Sanlam Group (South Africa)
  • Headquarters: Hyderabad
  • Key Focus: Affordable protection for low-income groups.

15. Bharti AXA Life Insurance Company Limited

  • Founded: 2006
  • Joint Venture: Bharti Enterprises & AXA Group (France)
  • Headquarters: Mumbai
  • Key Focus: Term insurance, child plans, investment plans.

16. Future Generali India Life Insurance Company Limited

  • Founded: 2007
  • Joint Venture: Future Group & Generali Group (Italy)
  • Headquarters: Mumbai
  • Key Focus: Protection, ULIPs, retirement and savings plans.

17. Ageas Federal Life Insurance Company Limited

  • Founded: 2007
  • Joint Venture: Federal Bank, Ageas (Belgium)
  • Headquarters: Mumbai
  • Key Focus: Term plans, endowment, and group products.

18. Canara HSBC Life Insurance Company Limited

  • Founded: 2008
  • Joint Venture: Canara Bank, HSBC, and PNB (earlier)
  • Headquarters: Gurugram
  • Key Focus: Bancassurance-based savings and protection plans.

19. Bandhan Life Insurance Company Limited

  • Formerly: Aegon Life Insurance
  • Headquarters: Mumbai
  • Key Focus: Digital-first term and savings solutions.
  • Remarks: Rebranded after acquisition by Bandhan Financial Holdings.

20. Pramerica Life Insurance Company Limited

  • Founded: 2013
  • Joint Venture: DHFL & Prudential International (Now under new ownership)
  • Headquarters: Gurugram
  • Key Focus: Term, ULIPs, savings products.

21. Star Union Dai-ichi Life Insurance Company Limited

  • Founded: 2009
  • Joint Venture: Bank of India, Union Bank, and Dai-ichi Life (Japan)
  • Headquarters: Mumbai
  • Key Focus: Bancassurance, group policies.

22. IndiaFirst Life Insurance Company Limited

  • Founded: 2009
  • Promoted By: Bank of Baroda, Union Bank of India, and Carmel Point Investments
  • Headquarters: Mumbai
  • Key Focus: Retail and corporate life insurance plans.

23. Edelweiss Life Insurance Company Limited

  • Founded: 2011 (Earlier Edelweiss Tokio Life)
  • Joint Venture: Edelweiss Group & Tokio Marine (Japan)
  • Headquarters: Mumbai
  • Key Focus: Innovative ULIPs and term plans.

24. Credit Access Life Insurance Limited

  • Founded: Recently licensed (2023-2024)
  • Parent Company: CreditAccess Grameen Ltd
  • Headquarters: Likely Bengaluru
  • Key Focus: Rural and micro-insurance markets.

25. Acko Life Insurance Limited

  • Founded: New player under the Acko Group
  • Headquarters: Mumbai
  • Key Focus: Digital-first term and health-integrated life plans.
  • Remarks: Part of Acko’s growing digital insurance ecosystem.

26. Go Digit Life Insurance Limited

  • Founded: Recently licensed (2023-2024)
  • Promoted By: Go Digit General Insurance (backed by Fairfax Group)
  • Headquarters: Bengaluru
  • Key Focus: Simplified, tech-driven life insurance products.

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