Top 15 Life Insurance Companies in India: Updated List
1. HDFC Life Insurance Company Ltd
HDFC Life Insurance Company Limited (HDFCL) was incorporated on 1st April 1986.
HDFCL is a joint venture between HDFC Bank Limited and Reliance Capital Limited. HDFCL offers a wide range of insurance products including General Insurance,
Health Insurance, Critical Illness Cover, etc. HDFCL provides its customers with comprehensive financial solutions and services. HDFCL’s vision is to become the preferred choice for quality financial services.
HDFC Life Insurance Company Limited (HDFCL) was founded in 1994 and is headquartered in Mumbai, Maharashtra, India.
HDFCL offers life insurance products including term plans, endowment plans, pension plans, annuities, ULIPs, and mutual funds. HDFCL’s total assets under management stood at Rs 1,30,000 crore as of March 31, 2017. HDFCL provides its services through over 2,00,000 agents and distributors across India.
2. ICICI Lombard General Insurance Company Limited
ICICI Lombard General Insurances Company Limited (ILGIN), formerly known as Indian Overseas Insurance Corporation Limited, is one of the largest general insurers in India. ILGIN is listed on both the Bombay Stock Exchange and National Stock Exchange of India. ILGIN offers a wide range of general insurance products and services, including life insurance, non-life insurance, personal accident coverages, travel insurance, pet insurance, motor insurance, etc.
ICICI Prudential Insurance Company Limited (ICICI Pru), formerly known as ICICI Lombard General Insurance Company Limited, is a joint venture between the Indian corporate group, the International Finance Corporation (IFC), and the UK-based insurer, Prudential plc. ICICI Pru is headquartered in Mumbai, India. As of December 31, 2016, ICICI Pru had total assets worth $49 billion.
3. LIC Housing Finance Limited
Housing finance company LIC Housing Finance Limited (LICHFL) is a housing finance company based in Mumbai, Maharashtra, India. LICHFL offers loans for purchase of houses, construction of house, home improvement loan, home renovation loan, mortgage loans, car loans, credit cards, consumer durable loans, personal loans, business loans, auto loans, gold loans, silver loans, education loans, etc.
The Life Insurance Corporation of India Limited (LIC) is a government-owned corporation based in Mumbai, India. LIC Housing Finance Ltd (LICHFL) is a wholly owned subsidiary of LIC. LICHFL is engaged in providing housing finance, primarily to individuals and small businesses.
4. Kotak Mahindra Old Mutual Insurance Company Limited
Kotak Mahindra Old Mutal Insurance Company Limited (KMOMUL) is a mutual insurer headquartered in Mumbai, Maharashtra, with branches across the country. KMOMUL offers a wide range of life insurance products, including term plans, endowment plans, universal plans, pension plans, annuity plans, etc.
Kotak Mahindra Old Mutalife Insurance Company Ltd (KMOM) is a joint venture of Kotak Mahindra Bank Limited and the Government of Mauritius. KMOM is headquartered in Mumbai, Mumbai, Maharashtra, India and offers life insurance products such term plans, endowment plan, pensions, ULIP, and mutual fund. KMOM also offers non-life products such as motor insurance and general insurance.
5. New India Assurance Company Limited
New India Assurance Company Limited (NIACL) is a leading general insurance company in India. NIACL offers a wide range insurance products, including life insurance, general insurance, personal accident cover, critical illness cover, etc.
6. Oriental Insurance Company Limited
Oriental Insurance Company Limited (OICO) is a general insurance company headquartered in Kolkata, West Bengal, India. OICO offers a wide range of products and services, including general insurance, personal accident coverage, medical insurance, dental insurance, maternity benefit, etc.
7. Prudential Assurance Company Limited
Prudential Assurance Company Ltd (PAL) is a general insurance provider headquartered in Mumbai, Maharashtra. PAL offers a wide range of policies, including general insurance, life insurance, personal accident cover and critical illness cover.
4. Bajaj Allianz General Insurance Company Ltd
Bajaj Allianz Insurance Company Limited (BAJALCO) is a joint venture between Bajaj Allianze Group and the Government of India. BAJALCO is headquartered in Mumbai, and operates in the life insurance, general insurance, and financial services sectors. BAJALCO offers life insurance products, including term plans, endowments, pensions, ULIPs, annuities, and mutual funds.
5. New India Assurance Company Ltd
New India Assurance Company Limited (NIACL) is a public sector undertaking incorporated in 1956. NIACL is headquartered in Kolkata, West Bengal, India. NIACL offers life insurance products, mainly term plans, endowment plans, pensions, ULIPS, and mutual funds. NIACL also offers non-life insurance products, such as motor insurance, fire & allied risks, general liability, etc.
6. Reliance General Insurance Company Ltd
Reliance General Insurance Company Limited (RGENL) is a joint venture company formed in 1995 between the Reliance Industries Limited and the Government of India’s General Insurance Corporation. RGENL is headquartered in Mumbai, Maharastra, India. RGENL offers life insurance products such as term plans, endowment plans, pensions, ULIPS, and mutual funds. RGENL also offers non- life insurance products such as motor insurance, property insurance, fire & allied risk, general liability, etc.,
