List of Insurance Companies in India 2022

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Insurance companies in India offer various types of insurance policies including car, home, health, life and pension plans.

Some of the top insurance companies in India are as follows:

Aviva Life Insurance

Aviva Life Insurance Company Limited (AIL) is an Indian life insurance company, headquartered in Mumbai, Maharashtra. It is a joint venture between the UK based Aviva and the Indian conglomerate Tata Group. It was incorporated in December 2004.

Aviva Life Insurance Co Ltd has been rated 4th best insurance company in India by Assocham Survey 2016-17 which was conducted among over 1000 consumers across 20 cities to assess their satisfaction with various aspects of their lives including health care and financial security among others

Bharti AXA General Insurance

Bharti AXA General Insurance Company Limited is an Indian insurance company, a subsidiary of the French company AXA. It is one of the largest private sector general insurance companies in India by premium income.

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AXA General Insurance has a network of more than 1,000 branches and 4,000 agents across the country. It offers motor insurance for cars, two-wheelers and commercial vehicles (trucks and buses), travel insurance for both domestic and international trips, health insurance and crop insurance products. AXA General is the second largest private sector general insurer in India with a market share of 16%.

Cholamandalam MS General Insurance

Cholamandalam MS General Insurance Company Limited (CMGL) is an Indian insurance company based in Chennai, Tamil Nadu. It was founded by Mr. K.V Prabhu, who served as its Chairman and Managing Director until his death on September 28, 2017. The company has a presence across multiple cities in India including New Delhi and Mumbai as well as overseas markets such as Dubai, Hong Kong and Singapore.

It offers various insurance products such as Motor Insurance to Personal Accident & Health Cover to Pet Health Insurance Scheme among others

HDFC ERGO General Insurance

HDFC ERGO General Insurance Company Limited is an Indian insurance company. It was founded in the year 2000, and it is a joint venture between HDFC Bank and ERGO International. HDFC ERGO General Insurance Company Limited has its headquarters in Mumbai, Maharashtra..

HDFC ERGO General Insurance Company Limited is a private company, and it is owned by HDFC Bank and ERGO International. It offers different types of insurance products including health, travel, personal accident, motor vehicle and home insurance policies.

ICICI Lombard General Insurance

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ICICI Lombard GIC Limited is an insurance company based in India, founded in 1977 by the Government of India. It is a subsidiary of ICICI Bank and has over 1,500 branches across the country. The company offers life and health insurance products for individuals as well as businesses.

It also caters to the needs of senior citizens and provides insurance for government employees. The company has a strong presence in the southern region, with its offices in Chennai, Coimbatore, Hyderabad, Kochi and Thiruvananthapuram.

IFFCO Tokio General Insurance

IFFCO Tokio General Insurance Company Limited is an Indian insurance company based in Mumbai. It offers a range of general insurance products and services to consumers, businesses and farmers. The company’s headquarters are located in the Nariman Point area of Mumbai.

In 2017-18 it had revenues of Rs 2,120 crore (USD 340 million) with an operating profit margin of 12%. As on March 31st 2019 its shareholding was as follows: Indian Bank Ltd – 10%, Bank of Baroda – 9% and Punjab National Bank – 7%

Kotak Mahindra Old Mutual Life Insurance

Kotak Mahindra Old Mutual Life Insurance Ltd. (KMOL) is an Indian life insurance company, which was established in the year 2017. It is a joint venture between Kotak Mahindra Bank and Old Mutual Life Insurance Company.

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The company offers various types of plans to its customers including term insurance, unit-linked plan and whole life insurance policies. The premium rates vary depending on the age group you belong to as well as your location in India or abroad

Liberty Videocon General Insurance

Liberty Videocon General Insurance Company Limited (Liberty) is an Indian general insurance company, headquartered in Mumbai, India. The company was incorporated on 1 March 2001 as a joint venture between Liberty Mutual Group of the US and Videocon Industries Limited (now known as Eicher Motors).

On 5th August 2013, it was announced that Eicher Motors would acquire the entire stake held by Liberty Mutual from 7th January 2014 onwards through an open offer where shareholders were given the option to accept or reject the offer within 90 days after announcement

Max Bupa Health Insurance

Max Bupa Health Insurance Co. Ltd. is a joint venture between Max India and BUPA, a British group that operates health care providers in the United Kingdom, Australia and New Zealand. The company was incorporated in 2001 and is based in Mumbai, India.

The company offers medical insurance plans for employees at their workplaces as well as their family members working for them (including spouses) who are not covered under any other scheme of benefits offered by employers or unions within their state/country of residence

New India Assurance

New India Assurance Co. Ltd. is a state-owned insurance company in India. It was founded in 1918 by the Indian industrialist Jamnalal Bajaj, who saw that there was a need for an insurance company that could provide affordable health and accident coverage to workers—particularly farmers and agricultural laborers—in those early days of industrialization when factories were rapidly expanding across the country’s hinterlands at an unprecedented rate.

New India Assurance Company Limited is currently one of the largest private sector companies in India with its headquarters based out of Mumbai (formerly known as Bombay), Maharashtra . Its business operations span over 30 countries around the world including USA , China , Australia etc., which makes it one of the oldest companies operating under this banner today .

Reliance General Insurance

Reliance General Insurance Company Limited is a joint venture between Reliance Capital and Tokio Marine Holdings. It was incorporated in the year 1999, and it is a public limited company.

Reliance General Insurance Company Limited provides products and services including life insurance, health insurance, travel accident insurance to its customers through various sales channels such as agents, branches and brokers across India. In addition to this it also provides services like direct selling through partnership with banks or financial institutions etc., which are known as distribution networks or distribution partners of an insurer (policyholder).

Life Insurance Corporation of India

The Life Insurance Corporation of India (LIC) is the oldest and largest life insurance company in India. It was established on November 22, 1938 as a government controlled organization. Since then it has become one of the largest insurers in Asia with over 30 million policyholders across all its branches and offices across the country.

The LIC is also known for providing various types of policies to policyholders like term insurance, whole life insurance, health cover etc., which makes it unique among similar companies like Bajaj Allianz Life Insurance Company Ltd., New India Assurance Company Ltd., Oriental Insurance Company Ltd., etcetera!

ICICI Prudential Life Insurance

ICICI Prudential Life Insurance Company is a life insurance company in India. It was established in the year 1988, by ICICI Bank Limited (now called as ICICI Bank). The company has its headquarters in Mumbai, Maharashtra.

As of 2016-17, it had 746 branches across India and an annual premium of ₹12,890 crore (US$2 billion). The net worth of ICICI Prudential Life Insurance Company is ₹15 billion (US$230 million).

SBI Life Insurance

SBI Life Insurance Company Limited is a joint venture between State Bank of India and BNP Paribas Cardif. The company was formed in the year 1994. The company has its headquarters in Mumbai, Maharashtra.

The SBI Life Insurance Company Limited offers a wide range of policies for individuals and families with various coverages including health insurance, travel accident insurance and life assurance plans related to home loans etc., under one single umbrella called “SBI LIFE” which provides complete protection from all risks faced by an individual or family member at any point during his/her lifetime

HDFC Standard Life Insurance

HDFC Standard Life Insurance Company Limited is a joint venture between HDFC and Standard Life. It was incorporated in 1996 and started operations in 1997. The company provides health insurance, term insurance and general insurance products.

The HDFC Group has been providing financial services to customers since 1964 when it was founded by Sushil Kumar Modi with the objective of providing affordable access to life cover through its network of branches across India. Today, it has over 10 million customers spread across all parts of India with its presence increasing steadily across continents.

The company has a presence in the United Kingdom, Singapore, Hong Kong and Indonesia. In addition to its core insurance business, the group also offers mutual funds, pension products and other financial services through its various subsidiaries.

Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance Company Limited is a joint venture between Bajaj Allianz Life Insurance Company Limited and Allianz Life Insurance Company of North America, Inc.

The company offers life insurance solutions for individuals, families and businesses across India.

Bajaj Allianz Life Insurance Company Limited is a joint venture between Bajaj Allianz Life Insurance Company Limited and Allianz Life Insurance Company of North America, Inc. The company offers life insurance solutions for individuals, families and businesses across India. Allianz Life Insurance Company Limited is a joint venture between Bajaj Allianz Life Insurance Company Limited and Allianz Life Insurance Company of North America, Inc.

The company offers life insurance solutions for individuals, families and businesses across India. Allianz Life Insurance Company Limited is a joint venture between Bajaj Allianz Life Insurance Company Limited and Allianz Life Insurance Company of North America, Inc. The company offers life insurance solutions for individuals, families and businesses across India.

TATA AIA Life Insurance

The TATA AIA Life Insurance Company Limited is a joint venture between Tata Sons and AIA Group. It provides insurance services to individuals and corporate customers.

Tata AIA Life Insurance Company Limited was founded in 1981 as Tata Capital Assurance Company Limited, then changed its name to Tata Capital (India) Ltd in 1996 after acquiring the business from ICICI Prudential ULIPs Pvt Ltd which was subsequently renamed as “Tata Capital Asset Management”. In 1998 it became an independent company again with new ownership structure involving both Tata Sons and Indian Overseas Bank’s insurance arm IOB National General Insurance Co-operative Society Ltd.

In 2003–2004 it acquired nine banks’ mutual funds operations including Britannia Life Insurance Co., Oriental Insurance Co., Oudh Central Insurance Co., Maharaja Krishnapuram Sahakari Bank & Syndicate Bank etc., but sold them off again later due to financial difficulties faced by these institutions due to economic conditions at that time.

Aditya Birla Sun Life Insurance

Aditya Birla Sun Life Insurance Company Limited (ABSL) is an Indian insurance company, headquartered in Mumbai. It is a joint venture between Aditya Birla Group and Sun Life Financial Inc. of Canada.

The company was incorporated on 1 July 2001 as a public limited company under the name “Aditya Birla Sun Life Insurance Company Limited”. On 1 January 2004, it changed its name to “Aditya Birla Sun Life Insurance Limited”. In 2006 it acquired ANZ Casualty Australia Limited’s distribution network which made them one of India’s largest providers of property & casualty insurance products in the country at that point in time.

In 2008, it acquired the life insurance operations of General Insurance Corporation of India (GIC). In 2013, it changed its name to “Aditya Birla Sun Life Insurance Company Limited” due to a change in ownership structure. The company has a network of more than 150,000 distribution outlets and approximately 2 million agents across 30 states and union territories in India.

Reliance Nippon Life Insurance

Reliance Nippon Life Insurance Company Limited is a joint venture between Reliance Capital and Nippon Life Insurance Company Limited. The company was formed in 2007, with its head office in Mumbai, India. In 2008 it became one of the largest insurance companies in India by assets under management (AUM), with over $6 billion USD.

Reliance Nippon Life Insurance Company Limited offers life insurance products including term plans, whole life plans and savings schemes for individuals as well as businesses. It also offers health insurance plans through its subsidiary companies.

The company has a network of over 4,000 branches and 6,000 service outlets across India. It also has offices in Singapore, Hong Kong and Tokyo. In 2010 Nippon Life Insurance Company Limited acquired the business of Asian Star Insurance Company Limited (ASIC) from Reliance Capital. ASIC is now known as Reliance Nippon Life Insurance Company Limited (RNLI).

PNB MetLife India Insurance

PNB MetLife India Insurance Company Limited is a joint venture between Punjab National Bank and MetLife. The company was incorporated in 2013 and started operations in 2014.

PNB MetLife India Insurance Company Limited offers life insurance, pension plans and health care products through its network of branches across India. Its goal is to provide financial security for its customers by offering them the best possible protection at an affordable price point.

The company has a large network of branches across India and employs more than 2,000 people. Its head office is located in Mumbai, Maharashtra.

Max Life Insurance

Max Life Insurance Company Ltd. is an insurance company based in Mumbai, India. It was founded by Max Financial Services Limited in the year 2000 and currently offers a range of products such as term insurance, whole life insurance, and health insurance to its customers.

The company has more than 10 million policyholders across India with a combined premium income of around Rs 3 billion (US$46 million). It also has an active customer base of about 1 lakh people who have availed their services since inception.

Max Life Insurance Company Ltd. is a joint venture between the Max Group and Fortis Group, a global healthcare provider based in Singapore. It operates by way of direct selling agents who are appointed by Max Financial Services Limited to sell its products.

New India Assurance

New India Assurance Co. Ltd (NIA), an Indian insurance company, is one of the largest insurance providers in India by market capitalization and gross written premium. The company was founded in 1906 and has its headquarters in Mumbai, Maharashtra. It is a subsidiary of Tata Sons Limited which also owns other companies such as Titan Industries Limited and Tata Steel Ltd among others.

NIA has a network of over 1,500 branches and offices in India and overseas. It offers products such as motor insurance, health insurance, travel insurance, home insurance, commercial vehicle insurance and general insurance. Tata AIG Life Insurance Co. Ltd is the subsidiary of NIA which was founded in 2009 to provide life insurance services. NIA also owns an aircraft leasing company called National Aviation Leasing Corporation Limited (NALCO), which was founded in 2008.

National Insurance

National Insurance Co. Ltd. is an insurance company of India. It was founded in 1906 and listed on the Bombay Stock Exchange in 1999. The company has its head office at Mumbai, Maharashtra state, India and has offices across 11 countries including UK, USA, Canada etc., as well as subsidiaries such as National Insurance Group (NIG) which operates internationally through its subsidiaries such as NIG Mutual Fund Trustee Company Limited and several others that provide services to international clients worldwide

It has a subsidiary called NIG Insurance Brokers Pvt Ltd. which is a broker for insurance policies and provides consultancy services on insurance. The company also has an investment wing called NIG Asset Management Company Limited which was established in 2008 to provide mutual fund products to the customers of National Insurance Co. Ltd..

Oriental Insurance

Oriental Insurance Company Limited is an Indian insurance company based in Mumbai, India. It is a subsidiary of the Oriental Insurance Group and one of the largest private sector general insurance companies in India. The company offers life and health insurance products through its subsidiaries such as Inventure General Insurance Company Ltd., Orient General Insurance Company Ltd., Oriental Life Assurance Company Ltd., Orient Fire & General Life Insurers Pvt Ltd., United India Assurance Corporation Limited (FIAMCO) etc.

Oriental Insurance Company Limited was founded in the year 1875 as ‘The Amritsar Fire & General Insurance Company Limited’ by the British trader, Mr. C. T. Mullick of Calcutta, India. In 1962, it became a joint venture between the Government of India and Barclays Bank and was renamed Oriental Insurance Company Limited (OICL).

United India Insurance

United India Insurance Co. Ltd. is an Indian insurance company, headquartered in Mumbai, Maharashtra, India. It is a subsidiary of United Bank of India and it has more than 80 million customers and over 1.2 million agents across India.

United India Insurance Co., Ltd., was founded by a group of high net-worth individuals who had previously worked at Standard Chartered Bank & ICICI Bank respectively before leaving those companies to start their own ventures with the aim to provide better services to its customers as well as improve efficiency through technology solutions like digital banking solutions etc..

It was incorporated in the year 2008, and went public with an IPO in 2013. It has more than 1.2 million agents across India and offers insurance products through these agents. It provides health insurance, motor insurance and travel insurance among other things.

Star Health and Allied Insurance

Star Health and Allied Insurance Company, Ltd. is an Indian insurance company. It was founded in 2006 and has a market share of 4.8%. The company offers insurance products such as health insurance, life insurance, travel insurance and others.

It has offices in New Delhi, Mumbai and Bengaluru. The company is a subsidiary of Reliance General Insurance Company Ltd., which is a joint venture between Reliance Capital and United India Insurance Company Limited (UIIC).

The company’s products include general health insurance, life insurance and travel insurance. It also provides accident cover, critical illness plans and dental care plans.

Conclusion

The list above contains all the insurance companies in India. They offer various types of insurance including health, car, home and travel insurance. This is an excellent resource for anyone who needs to get the right coverage at the right price.

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Divya Baral
Divya Baral
I love writing about finance and stock market. I have more than 4 years of writing experience.