INSURANCE COMPANY AND HISTORY

Bajaj Allianz General Insurance

Bajaj Allianz General Insurance is a private general insurance company in India.The company is
a joint venture between Bajaj Finserv Limited (formerly part of Bajaj Auto Limited) owned by
the Bajaj Group of India and Allianz SE, a German financial services company.

Type Private Limited

Industry Insurance
Founded 2001; 16 years ago
Headquarters Pune, India
Area served Worldwide
Key people Tapan Singhel (MD and CEO)
Products Motor Insurance, Health Insurance, Travel Insurance, Home Insurance,
Marin insurance
Revenue INR 59 billion (FY 2015-2016) [1]
income Increase ₹6 billion (US$94 million)
Parent Bajaj Finserv, Allianz SE
Website www.bajajallianz.com

HISTORY
Bajaj Allianz General Insurance received an Insurance Regulatory and Development Authority of
India (IRDAI) certificate of registration on 2 May 2001 to conduct general insurance business,
including health insurance, in India. In the first year of its operations the company had 36 offices
and around 100 employees. The company started its operations with a paid up capital of ₹1.10
billion. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz SE. Bajaj
Allianz is headquartered in Pune with offices in over 200 cities in India and more than 3,500
employees as of 2015.
The Company lists 97 filed and approved products, of which 27 are health products.
In January 2014, the company announced it would open up all-women branches. As of 2015, the
company has 30 such branches in India.
SBI Life Insurance Company
SBI Life Insurance is a joint venture life insurance company between State Bank of India (SBI),
the largest state-owned banking and financial services company in India, and BNP Paribas
Cardif. BNP Paribas is a French multinational bank and financial services company with global
headquarters in Paris. SBI owns 70.1% of the total capital and BNP Paribas Cardif 26% of the
capital. Other investors are Value Line Pte. Ltd. and MacRitchie Investments Pte. Ltd., holding
1.95% of the total capital each. SBI Life Insurance has an authorized capital of ₹20 billion
(US$310 million)and a paid up capital of ₹10 billion (US$160 million). SBI Life Insurance also
features in the Fortune Global 500 list of the world’s biggest corporations.

Type Joint Venture

Traded as BSE: 540719 NSE: SBILIFE
Industry Insurance
Founded March 2001[1]
Headquarters Mumbai, India
Key people Mr. Arijit Basu, MD & CEO
Products Life insurance Pensions
Owner SBI, BNP Paribas
Number of employees12,000+ on-roll employees and 94,000 agents
Website Sbi Life
History
SBI life insurance is private company, SBI Life started as a joint venture with BNP Paribas in
2001. While in its initial stage its business was mainly from bancassurance channel, now it is
developing its own agency team for selling its life insurance products.

Bharti AXA General Insurance

Bharti AXA General Insurance Company Ltd. is a joint venture between Bharti Enterprises and
AXA business Group that operates in India. Bharti Enterprises shares 51% stake in the venture
while AXA Group shares 49% stake. The company offers general insurance products to retail and
commercial clients.

Bharti AXA General Insurance Company Ltd.

Industry General Insurance
Founded 2008
Headquarters Mumbai India
Area served India
Key people Sanjeev Srinivasan - Chief Executive Officer and Managing Director
Products Car insurance, two-wheeler insurance, health insurance, critical illness insurance,
personal accident insurance, home insurance & travel insurance
Website www.bharti-axagi.co.in
Bharti AXA started its operations in India from August 2008. Currently, it has 79 branches
around the country. The company is the first one in the general insurance industry to receive dual
certifications of ISO 9001:2008 and ISO 27001:2005. It is headed by Sanjeev Srinivasan, who is
CEO and the Managing Director

HISTORY
Bharti AXA General Insurance Company is a joint venture between Bharti Enterprises (a leading
business group with interests into telecom, agro business, financial services, manufacturing, and
retail sector) and AXA Group (an international insurance and asset management company
operating out of France). The company was incorporated on 13 July 2007 and commenced its
national operations in August 2008. It is headquartered in Bangalore and operates at 100
locations around the country.
Products and services
Bharti AXA General Insurance Company Ltd is a general insurance company that primarily
offers over 50 products catering to retail, rural, and commercial clients. The primary general
insurance products in the domestic category include car insurance, two wheeler insurance, health
insurance, critical illness insurance, personal accidental insurance, home insurance, and travel
insurance. Bharti AXA General Insurance Company also offers commercial products such as
commercial vehicle insurance, third party motor liability insurance, commercial line, and SME
package.

Star Union Dai-ichi Life Insurance

Star Union Dai-ichi Life Insurance is a joint undertaking of Bank of India and Union Bank of
India, two major public sector banks in India, and Dai-ichi Mutual Life Insurance Company,
foremost Japanese company in the life insurance industry. Star Union deals with the life
insurance market in India. Registered on September 25 2007, with the Registrar of Companies in
Maharashtra, the company gained its license on December 26, 2008, by the Insurance Regulatory
and Development Authority (IRDA).Star Union Dai-ichi Life Insurance Company is expected to
be a strong contender in the insurance sector owing to its insurance, IT, finance and investment
resources. The enterprise offers various products to serve all sections of the society. It is also
offers insurance to the rural as well as other weaker social sectors of the society. It operates
through the Bank of India's and Union Bank's 5400 offices, spread across the length and breadth
of India which enables it to have wider reach to its potential customers. This company banks
upon the strong brand equity and high level of trust of the two public sector banks who also
sponsor regional rural banks thereby giving more scope to tap the life-insurance business in the
rural areas.
Star Union Dai-ichi Life Insurance Company is expected to be a strong contender in the
insurance sector owing to its insurance, IT, finance and investment resources. The enterprise
offers various products to serve all sections of the society. It is also offers insurance to the rural
as well as other weaker social sectors of the society. It operates through the Bank of India's and
Union Bank's 5400 offices, spread across the length and breadth of India which enables it to have
wider reach to its potential customers. This company banks upon the strong brand equity and
high level of trust of the two public sector banks who also sponsor regional rural banks thereby
giving more scope to tap the life-insurance business in the rural areas.

IFFCO Tokio General Insurance

IFFCO Tokio General Insurance is a joint venture between the Indian Farmers Fertiliser
Cooperative (IFFCO) and the Tokio Marine and Nichido Fire Group
IFFCO Tokio General Insurance is a joint venture between Indian Farmers Fertiliser Cooperative
(IFFCO) and its associates and Tokio Marine and Nichido Fire Group. The group is chaired by
Mr. M. K Srinivasa Gowda while Managing Director and CEO is Warendra Sinha.[2] Currently
IFFCO-Tokio General Insurance is the 3rd largest private general insurance company in India.

Tokio General Insurance Company Limited

Type Private Limited
Industry Insurance
Founded 2000
Headquarters Gurgaon, India
Key people Warendra Sinha, CEO & MD
Products General insurance
Number of employees 1500[1]
Website www.iffcotokio.co.in

HISTORY
IFFCO-Tokio General Insurance was incorporated on 8 September 2000 and with 65 Strategic
Business Units, a wide network of 122 Lateral Spread Centers and 255 Bima Kendra. IFFCO
holds 51% shareholding and TOKIO MARINE holds 49% shareholding in IFFCO-Tokio General
Insurance. In 2009, it found a place in the Capgemini World Insurance Report as an innovative
distribution channel. In 2013-14, IFFCO-Tokio wins the National Award for successfully
implementing the Indian Government's Labor Department’s RSBY. IFFCO Tokio is also called
as ITGI. IFFCO Tokio General Insurance has Pan India presence with 104 “Strategic Business
Units' (SBU’s) and a wide network of over 171 ‘Lateral Spread Centres’ (LSC’s) and 400 Bima
Kendras. It offers a wide range of uniquely customized policies covering a range of customers
i.e. from farmers to some of India's largest automobile manufacturers. From a modest Rs 213
Crores of GWP (Gross Written Premium) in 2001-02 it has achieved an impressive Rs 5635
Crores in 2016-17, thereby becoming one of India's leading private players.
ICICI Prudential Life Insurance Company (ICICI Prudential Life)
ICICI Prudential Life Insurance Company (ICICI Prudential Life) is a joint venture of ICICI
Bank, which is India’s largest private sector bank, and Prudential plc , which is a leading
international financial services group with its headquarters in the United Kingdom.
ICICI Prudential Life Insurance Company Ltd. is a life insurance company based in India. As of
2015 it reported assets of over Rs. 100,000 Cr.

ICICI Prudential Life Insurance Company Ltd.

Type Public company
Industry Insurance Services
Founded 12 December 2000
Headquarters Mumbai, India
Area served India
Key people
Sandeep Bakhshi (Managing Director & Chief Executive Officer),
Puneet Nanda (Chief Marketing Officer),
Satyan Jambunathan (Executive Vice President),
Manish Kumar (Chief Investment Officer),
Navin Sharma (Chief Internal Audit),
Binay Agarwala (Chief Financial Officer & Chief Risk Officer- Enterprise Risk),
Deepak Kinger (Chief Compliance Officer),
Poonam Bhardwaj (Chief Risk Officer- Operations Risk)
Products Insurance
Total assets ₹100,000 crore (US$16 billion) (2014)
Website www.iciciprulife.com

HISTORY
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank 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 approval from Insurance Regulatory and Development Authority
of India (IRDAI). As of 2010, the managing director and CEO was Sandeep Bakhshi.
Financials
ICICI Prudential Life's capital infused stands at Rs. 48.16 billion (as of March 31, 2015) with
ICICI Bank Ltd. and Prudential plc holding 68% and 32% stake respectively . For the financial
year 2015, the company garnered a total premium of Rs. 153.07 billion. The company has assets
under management of Rs. 1001.83 billion as on March 31, 2001.

IDBI Federal Life Insurance Co. Ltd

(formerly known as IDBI Fortis Life Insurance) is a joint venture between three financial
companies – Industrial development and commercial bank (IDBI Bank) which is India’s public
sector bank ; Federal Bank and the European insurer Ageas (formerly Fortis). In this joint
venture, IDBI Bank owns 48% equity while Federal Bank and Ageas owns 26 per cent equity
each.
IDBI Federal Life Insurance Co Ltd. is a three way joint-venture of IDBI Bank, an Indian
development and commercial bank; Federal Bank, one of India’s leading[peacock term] private
sector banks and Ageas, a multinational insurance giant based out of Europe.
IDBI Federal Life Insurance
Type Joint Venture
Industry Life insurance
Founded March 2008[1]
Headquarters Headquarters in Mumbai, India
Key people Vighnesh Shahane, CEO & Whole Time Director
Products Life insurance
Number of employees 1,941 employees 10,000 agents
Website Official Website

IDBI Federal distributes its products through a multi-channel network consisting of Insurance
agents, Bancassurance partners (IDBI Bank, Federal Bank) Direct channel, and Insurance
Brokers.
HISTORY
In the year 2006, IDBI Bank, Federal Bank and Belgian-Dutch insurance major Fortis Insurance
International NV signed a MoU to start a life insurance company in India. The company received
its license from Insurance Regulatory and Development Authority of India (IRDAI) (j.Arul
jegadeesh one of the trainee in the idbi federal life insurance company in madurai) in December
2007.
IDBI Fortis Life Insurance Co. Ltd. officially began its operations in March 2008. In August
2008, the company collected the premium of over Rs.100 crore within a record time of five
months, thus becoming the fastest growing new life insurance company in the private sector.
India-Sri Lanka ODI series that took place in October 2009, found a title sponsor in insurance
major IDBI Fortis. The company’s AUM crossed the Rs. 1,000 crore mark for the first time in
March 2010.
In August 2010, the company was rechristened as IDBI Federal Life Insurance Company. In
2012-13, it declared its maiden profits in record 5 years, thus was one of the fastest to do so in
the industry. It yet again clocked Rs. 80 crore profits for the financial year 2013-14 and has
maintained its profitable trajectory from thereon.