There are 22 IRDA approved life insurance companies in India. Apart from big daddy LIC most of the companies are joint venture between banks, corporate conglomerate & foreign company.
Brief overview of the companies sorted alphabetically. All the logos and trademarks are property of their respective owners.
Aditya Birla Sun Life Insurance Company Limited.
One World Center, Tower-1, 16th Floor,
Jupiter Mills compound 841,
Senapati Bapat Marg, Elphinston Road,
Mumbai – 400 013
As of June 30th, 2021, Aditya Birla Capital Limited manages aggregate assets under management over Rs. 3,430 billion, has a consolidated lending book of approx. Rs. 572 billion, and an active customer base of over 25 million, through its subsidiaries and joint ventures.
Aditya Birla Capital Limited is a part of the Aditya Birla Group, in the league of Fortune 500. Anchored by an extraordinary force of over 140,000 employees, belonging to 100 nationalities, the Aditya Birla Group operates in 36 countries across the globe.
Aegon Life Insurance Company Limited.
A-201, 2nd Floor, Leela Business Park,
Nr. Airport Road Metro Station,
Andheri Kurla Road
Andheri (East), Mumbai – 400059
Aegon Life was formed with the coming together of Aegon N. V, an international provider of life insurance, pensions and asset management, and Bennett Coleman and Company, India’s largest media conglomerate popularly known as the Times Group.
This union brings together a local approach, with global expertise of launching products that cater to different sets of customers to meet their long-term financial goals.
AGEAS Federal Life Insurance Company Limited
22nd Floor, A Wing, Marathon Futurex, N. M,
Joshi Marg, Lower Parel – East,
Mumbai – 400013
Ageas Federal Life Insurance (Formerly known as IDBI Federal Life Insurance Co Ltd.). Ageas is Belgium based financial conglomerate currently operating in 14 countries.
Federal Bank is Kochin (Kerala) based private bank.
Aviva Life Insurance Company India Limited.
Aviva Tower, Sector Road,
Opp Golf course, DLF Phase V
Sector 43, Gurgaon 122 003, Haryana
Aviva India is a joint venture between Aviva Plc., a UK based insurance group, and Dabur Invest Corp., one of India’s oldest and most respected business houses.
Bajaj Allianz Life Insurance Company Limited
GE Plaza, Airport Road, Yerawada,
Pune – 411 006
Bajaj Allianz Life is one of the leading private life insurance companies in India. The Company is a partnership between two powerful and successful entities in their own right – Bajaj Finserv Limited, one of India’s most diversified non-banking financial institution and Allianz SE, one of world’s leading asset manager and insurer.
Bharti AXA Life Insurance Company Limited
Unit No. 1904, 19th Floor,
Parinee Crescenzo,’G’ Block,
Bandra Kurla Complex, BKC Road,
Bandra East,Mumbai – 400051
Bharti AXA Life Insurance was formed and it commenced business operations during the second wave of growth in the private insurance space in 2006.
Bharti AXA brings together strong financial expertise of the Paris-headquartered AXA Group and Bharti Enterprises – one of India’s leading business groups with interests in Telecom, agricultural business and financial services. Presently, the joint venture has a 51% stake from Bharti Group and 49% stake from AXA, in line with the regulatory framework on ownership in the Insurance sector.
Canara HSBC Oriental Bank of commerce Life Insurance Company Limited
139 -P, Sector 44, Gurugram, Haryana,
India
PIN-122003
Established in 2008, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited is a joint venture between Canara Bank (51%), HSBC Insurance (Asia Pacific) Holdings Limited (26%) and Punjab National Bank (23%).
The company brings together the trust and market knowledge of two big public sector banks in India i.e. Canara Bank and Punjab National Bank combined with the global insurance expertise of HSBC.
Edelweiss Tokio Life Insurance Company Limited
4th Floor, Tower 3, Wing B, Kohinoor City Mall,
Kohinoor City, Kirol Road, Kurla(W)
Mumbai 400070
Edelweiss Tokio Life Insurance is a leading life insurance and related services provider in India. The company offers term insurance, ULIP, health insurance etc. products at its over 100 offices spread across India.
It’s a subsidiary of Edelweiss Financial Service Ltd, an Indian based finical service provider. Joint venture partner is Tokio Mrine Holding.
Exide Life Insurance Company Limited
3rd Floor, JP Techno Park, No. 3/1, Millers Road,
Bengaluru – 560 001
Exide Life Insurance Company Limited, an established and profitable life insurance Company, commenced operations in 2001-02 and is head quartered in Bengaluru. The Company is 100% owned by Exide Industries Limited.
During the financial year 2020-21, the Company achieved Total Premium Income of over INR 3,325 crores. The Company is focused on providing long term protection and savings solution plans and has a strong traditional product portfolio with a consistent bonus track record.
Future Generali India Life Insurance Company Limited
Unit No.801 and 802, 8th Floor, Tower C,
Embassy 24/7 Park, L.B.S Marg, Vikhroli (W),
Mumbai – 400 013
Future Generali India Life Insurance Company Limited is a joint venture between three leading groups: Future Group – A leading retailer in India, Generali Group- A global insurance group that features among top 50* smartest companies in the world and Industrial Investment Trust Limited (IITL) – A leading investment company.
Mission of the company is to actively protect and enhance peoples’ lives. With operations spread across 136 branches and a complete range of simplified solutions for the financial security of customers and enterprises, aim to become the first choice by delivering relevant and accessible insurance solutions.
HDFC Life Insurance Company Limited
12th Floor, Lodha Excelus,
Apollo Mills compound, N.M Joshi Marg , Mahalaxmi, Mumbai 400 011
HDFC Life Insurance Company Limited is a joint venture between HDFC Ltd. India’s leading housing finance institution and Standard Life Aberdeen, a global investment company.
Established in 2000, HDFC Life is a leading long-term life insurance solutions provider in India, offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment, Annuity and Health. As on June 30, 2021, the Company had 37 individual and 13 group products in its portfolio, along with 7 optional rider benefits, catering to a diverse range of customer needs.
CICI Prudential Life Insurance Company Limited
ICICI Prulife Towers , 1089, Appasaheb Marathe Marg,
Prabhadevi,
Mumbai – 400 025
ICICI Prudential Life Insurance Company Limited (ICICI Prudential Life) is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited.
ICICI Prudential Life began its operations in the fiscal year 2001. On a retail weighted received premium basis (RWRP), it has consistently been amongst the top companies in the Indian life insurance sector. Our Assets Under Management (AUM) at 30th September 2021 were `2,370.87 billion.
In FY 2015 ICICI Prudential Life became the first private life insurer to attain assets under management of `1 trillion. ICICI Prudential Life is also the first insurance company in India to be listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
IndiaFirst Life Insurance Company Limited
301, ‘B’ Wing, The Qube, Infinity Park
Dindoshi – Film City Road, Malad East,
Mumbai 400097
India First Life Insurance Company is promoted by 2 leading public sector banks viz Bank of Baroda & Union Bank of India.
Headquartered in Mumbai, IndiaFirst Life Insurance Company Limited (IndiaFirst Life), with a paid-up share capital of INR 663 crore, is one of the country’s youngest life insurance companies. Our key differentiators are our simple, easy-to-understand products that are fairly-priced and efficiently serviced.
Kotak Mahindra Life Insurance Company Limited
2nd Floor, Plot # C- 12,
G- Block, BKC, Bandra (E),
Mumbai – 400051
Kotak Life Insurance is one of the fastest growing insurance companies in India, covering over 32.8 million lives nationwide (as on 31 st August 2021). It’s subsidiary of Kotak Mahindra Bank.
Life Insurance Corporation of India
Yogakshema, Jeeva Bima Marg,
Post Box No. 19953,
Mumbai – 400 021
Life Insurance Corporation of India, popularly known as LIC is a household brand name and the first & oldest life insurance provider in India.
LIC is brand that people blindly trust because it’s promoted by Govt. of India through LIC act. Currently it’s 100% owned by Union Govt. of India, but planning to go for an IPO soon.
Max Life Insurance Company Limited
11th Floor, DLF Square ,
Jacaranda Marg, DLF City, Phase-II,
Gurgaon – 122 002
Max Life Insurance Company Limited (formerly known as Max New York Life Insurance Company Limited) is a life insurance company in India with a joint venture (JV) between Max India Ltd and Axis Bank The company is a subsidiary of the publicly listed Max Financial Services and is the largest non-bank private-sector life insurer in India.
PNB MetLife India Insurance Company Limited
Unit No. 701, 702 & 703, 7th Floor, West Wing,
Raheja Towers, 26/27 M G Road,
Bangalore – 560001, Karnataka.
It was founded in 2000 after the liberalization of the insurance sector in India and its operations began in 2001. Analjit Singh, founder of Max Healthcare, is the chairman of Max Life Insurance. The company is headquartered at New Delhi.
