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Top 10 Life Insurance Companies in India
Posted in: Business Tuesday 23rd, September 2008

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Pinky Walia

Financial Advisor

LIC (Life Insurance Corporation of India) still remains the largest life insurance company
accounting for 64% market share. Its share, however, has dropped from 74% a year before,
mainly owing to entry of private players with innovative products and better sales force.
ICICI Prudential Life Insurance Co Ltd is the biggest private life insurance company in India. It
experienced growth of 58% in new business premium, accounting for increase in market share to
8.93% in 2007-08 from 6.97% in 2006-07.
Bajaj Allianz Life Insurance Co Ltd has reported a growth of 52% and its market share went up
to 6.98% in 2007-08 form 5.66% in 2006-07. The company ranked second (after LIC) in number
of policies sold in 2007-08, with total market share of 7.36%.
SBI Life Insurance Co Ltd in terms of new number of policies sold, the company ranked 6th in
2007-08. New premium collection for the company was Rs 4,792.66 crore in 2007-08, an
increase of 87% over last year.
Reliance Life Insurance Co Ltd Total collected was Rs 2,792.76 crore and its market share went
up to 2.96% from 1.23% a year back. It now ranks 5th in new business premium and 4th in
number of new policies sold in 2007-08.
 HDFC Standard Life Insurance Co Ltd with an income of Rs 2,680 crore in FY2007-08,
registering a year-on-year growth of 64%. Its market share is 2.88% and it ranks 6 th among the
insurance companies and 5th amongst the private players.
Birla Sun Life Insurance Co Ltd market share of the company increased from 1.22% to 2.11% in
2007-08. The company moved to the 7th position in 2007-08 from 8the a year before, pushing
down Max New York Life insurance company.
Max New York Life Insurance Co Ltd has reported growth of 73% in 2007-08. Total new
business generated was Rs 641.83 crore as against Rs 387.51 crore. The company was pushed
down to the 8th position from 7th in 2007-08.
Kotak Mahindra Old Mutual Life Insurance Ltd the fiscal 2007-08, the company reported
growth of 80%, moving from the 11th position to 9th. It captured a market share of 1.19% in
2007-08. Last year the company doubled its branch network to 150 from 74.
Aviva Life Insurance Company India Ltd ranking dropped to 10th in 2007-08 from 9th last year.
It has presence in more than 3,000 locations across India via 221 branches and close to 40
bancassurance partnerships. Aviva Life Insurance plans to increase its capital base by Rs 344
crore. With the fresh investment, total paid-up capital of the insurer would go up to Rs 1,348.8
crore.

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Reader's comments(10)
1:hello ...

In future, Amsure insurance pvt. ltd... would be the best of all ....
it's true within 2014-2015....

GO FOR IT
Posted by: nandha kumar - 19th Oct 2010

Reply
2:PLS PROVIDE ME ALATEST MARKET SHARE OF ALL THE INSURANCE COMPANIES IN INDIA
Posted by: akash kumar chadha - 24th Jun 2010

Reply
3:PLS PROVIDE ME ALATEST MARKET SHARE OF ALL THE INSURANCE COMPANIES IN INDIA
Posted by: akash kumar chadha - 24th Jun 2010

Reply
4:Can You please tell me finally which company is No.1 in India.

Thanks
Posted by: kanwaljeet Singh - 05th Feb 2010

Reply

5:Future Generali
PL Call 9423793220<br
/> If U want more information</br
MAHESH ASHOK WARE replied to: kanwaljeet Singh post - 24th Dec 2010

Reply
6:"Hi! Thanks for the information, it's really good & interesting. I think Insurance is a booming
market & to get the most out of it the companies must launch these kind of online tools which
helps people to plan their isurance according to their need & budget.
Have a look :-)
www.simpleinsurance.co.in"
Posted by: Insurred Ashish - 22nd Sep 2009

Reply
7:please give the latest year ranking
to ramagoud_mba@yaooo.com
Posted by: rama goud - 07th Jun 2009

Reply
8:could you please give the 2008 and 2009 rankings.

ramagoud_mbaA@yahoo.com
Posted by: rama goud - 07th Jun 2009

Reply
9:Thanks for providing valulable inputs on a single platform.
Posted by: Gopal Garg - 30th Oct 2008

Reply
10:@64% LIC still is a dominant player in the Industry however its market share dropping by a
whooping 10% in a financial year is eye popping!! am sure LIC has done more business in FY08
which means market has grown on the whole..
Posted by: Sandeep Thapliyal - 24th Sep 2008

Reply
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