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List of main insurance companies in India: ranking per 2024 turnover
February 06, 2025
Life insurance companies in india
Figures in millions
| Life Indian insurers | 2024 turnover | 2023 turnover | 2023-2024 evolution (1) | 2024 shares | ||
|---|---|---|---|---|---|---|
| INR | USD | INR | USD | |||
| State-owned companies | ||||||
| Life Insurance Corporation of India | 4 757 519 | 57 090 | 4 746 681 | 57 767 | 0.23% | 57.32% |
| Private companies | ||||||
| SBI Life Insurance | 814 306 | 9 772 | 673 156 | 8 192 | 20.97% | 9.81% |
| HDFC Life Insurance | 630 765 | 7 569 | 575 334 | 7 002 | 9.63% | 7.60% |
| ICICI Prudential Life Insurance | 432 356 | 5 188 | 399 328 | 4 860 | 8.27% | 5.21% |
| Max Life Insurance | 295 290 | 3 544 | 253 419 | 3 084 | 16.52% | 3.56% |
| Tata AIA Life Insurance | 256 918 | 3 083 | 205 035 | 2 495 | 25.30% | 3.10% |
| Bajaj Allianz Life Insurance | 230 430 | 2 765 | 194 614 | 2 369 | 18.40% | 2.78% |
| Kotak Mahindra Insurance | 177 084 | 2 125 | 153 205 | 1 865 | 15.59% | 2.13% |
| Aditya Birla Sun Life Insurance | 172 601 | 2 071 | 150 697 | 1 834 | 14.54% | 2.08% |
| PNB Metlife Life India Insurance | 97 323 | 1 168 | 87 852 | 1 069 | 10.78% | 1.17% |
| Canara HSBC Life Insurance | 71 287 | 856 | 71 974 | 876 | -0.95% | 0.86% |
| IndiaFirst Life Insurance | 69 738 | 837 | 60 745 | 739 | 14.80% | 0.84% |
| Star Union Dai-ichi Life Insurance | 67 179 | 806 | 57 464 | 699 | 16.91% | 0.81% |
| Reliance Nippon Life Insurance | 55 369 | 664 | 51 221 | 624 | 8.10% | 0.67% |
| Shriram Life Insurance | 35 075 | 421 | 25 464 | 310 | 37.75% | 0.42% |
| Bharti AXA Life Insurance | 29 083 | 349 | 29 206 | 355 | -0.42% | 0.35% |
| Ageas Federal Life Insurance | 26 974 | 324 | 22 890 | 279 | 17.84% | 0.33% |
| Edelweiss Tokio Life Insurance | 19 321 | 232 | 16 905 | 206 | 14.29% | 0.23% |
| Pramerica Life Insurance | 19 194 | 230 | 14 954 | 182 | 28.35% | 0.23% |
| Future Generali Life Insurance | 18 106 | 217 | 17 580 | 214 | 2.99% | 0.22% |
| Aviva Life Insurance | 13 469 | 162 | 13 174 | 160 | 2.23% | 0.16% |
| Bandhan Life Insurance (2) | 4 309 | 52 | 3 700 | 45 | 16.48% | 0.05% |
| Go Digit Life Insurance | 4 264 | 51 | - | - | - | 0.05% |
| Credit Access Life Insurance | 970 | 12 | - | - | - | 0.01% |
| Acko Life Insurance | 365 | 4 | - | - | - | 0.01% |
| Sahara India Life Insurance (3) | - | - | 442 | 5 | - | - |
| Total | 3 541 776 | 42 502 | 3 078 359 | 37 464 | 15.05% | 42.68% |
| Life total | 8 299 295 | 99 592 | 7 825 040 | 95 231 | 6.06% | 100% |
(1) Growth rate in local currency
(2) Formerly Aegon Life
(3) Sahara India Life Insurance merges with SBI Life Insurance
Non-life insurance companies india
Figures in millions
| Non-life Indian insurers | 2024 turnover | 2023 turnover | 2023-2024 evolution (1) | 2024 shares | ||
|---|---|---|---|---|---|---|
| INR | USD | INR | USD | |||
| State-owned companies | ||||||
| The New India Assurance | 369 966 | 4 440 | 344 841 | 4 197 | 7.29% | 12.77% |
| United India Insurance | 198 530 | 2 382 | 176 443 | 2 147 | 12.52% | 6.86% |
| The Oriental Insurance | 182 890 | 2 195 | 156 149 | 1 900 | 17.13% | 6.31% |
| National Insurance | 151 135 | 1 814 | 151 480 | 1 844 | -0.23% | 5.22% |
| Total | 902 521 | 10 831 | 828 913 | 10 088 | 8.88% | 31.16% |
| Private companies | ||||||
| ICICI Lombard General Insurance | 247 761 | 2 973 | 210 251 | 2 559 | 17.84% | 8.55% |
| Bajaj Allianz General Insurance | 204 727 | 2 457 | 153 366 | 1 866 | 33.49% | 7.07% |
| HDFC ERGO General Insurance | 185 675 | 2 228 | 166 358 | 2 025 | 11.61% | 6.41% |
| Tata AIG General Insurance | 150 909 | 1 811 | 131 760 | 1 604 | 14.53% | 5.21% |
| SBI General Insurance | 125 535 | 1 506 | 108 284 | 1 318 | 15.93% | 4.33% |
| Reliance General Insurance | 116 888 | 1 403 | 103 390 | 1 258 | 13.06% | 4.04% |
| IFFCO Tokio General Insurance | 98 351 | 1 180 | 98 711 | 1 201 | -0.36% | 3.40% |
| Go Digit General Insurance | 79 411 | 953 | 61 601 | 750 | 28.91% | 2.74% |
| Cholamandalam MS General Insurance | 75 329 | 904 | 61 560 | 749 | 22.37% | 2.60% |
| Future Generali India Insurance | 49 109 | 589 | 45 462 | 553 | 8.02% | 1.70% |
| Universal Sompo General Insurance | 46 222 | 555 | 41 031 | 499 | 12.65% | 1.60% |
| Royal Sundaram General Insurance | 36 371 | 436 | 33 798 | 411 | 7.61% | 1.26% |
| Magma HDI General Insurance | 30 442 | 365 | 25 341 | 308 | 20.13% | 1.05% |
| Shriram General Insurance | 30 361 | 364 | 22 658 | 276 | 34.00% | 1.05% |
| Liberty General Insurance | 21 550 | 259 | 19 573 | 238 | 10.10% | 0.74% |
| Acko General Insurance | 18 703 | 224 | 15 094 | 184 | 23.91% | 0.65% |
| Kotak Mahindra General Insurance | 15 871 | 190 | 11 341 | 138 | 39.95% | 0.55% |
| Zuno General Insurance | 8 338 | 100 | 5 335 | 65 | 56.29% | 0.29% |
| Kshema General Insurance | 5 685 | 68 | - | - | 0.19% | |
| Raheja QBE General Insurance | 2 959 | 36 | 3 799 | 46 | -22.12% | 0.10% |
| Navi General Insurance | - | - | 705 | 9 | - | - |
| Total | 1 550 197 | 18 601 | 1 319 418 | 16 057 | 17.49% | 53.53% |
| Stand-Alone Health Insurers | ||||||
| Star Health and Allied Insurance | 152 545 | 1 831 | 129 525 | 1 576 | 17.77% | 5.27% |
| Care Health Insurance | 68 645 | 824 | 51 416 | 626 | 33.51% | 2.37% |
| Niva Bupa Health Insurance | 56 075 | 673 | 40 730 | 496 | 37.68% | 1.94% |
| Aditya Birla Health insurance | 37 013 | 444 | 27 170 | 331 | 36.23% | 1.28% |
| ManipalCigna Health Insurance | 16 915 | 203 | 13 598 | 165 | 24.39% | 0.58% |
| Total | 331 193 | 3 975 | 262 439 | 3 194 | 26.20% | 11.44% |
| Specialized companies | ||||||
| Agriculture Insurance Co of India | 99 406 | 1 193 | 146 198 | 1 779 | -32.01% | 3.43% |
| Export Credit Guarantee Corporation of India | 12 707 | 152 | 11 975 | 146 | 6.12% | 0.44% |
| Total | 112 113 | 1 345 | 158 173 | 1 925 | -29.12% | 3.87% |
| Non-life total | 2 896 024 | 34 752 | 2 568 943 | 31 264 | 12.73% | 100% |
(1) Growth rate in local currency
Read also | Insurance sector in India
