INSURANCE COMPANIES IN INDIA

INTRODUCTION:-
Insurance is a means of protection from financial loss. It is a form of risk management, primarily used
to hedge against the risk of a contingent or uncertain loss.
An entity which provides insurance is known as an insurer, an insurance company, an insurance carrier or
an underwriter. A person or entity who buys insurance is known as an insured or as a policyholder. The insurance
transaction involves the insured assuming a guaranteed and known - relatively small - loss in the form of payment to
the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss
may or may not be financial, but it must be reducible to financial terms, and usually involves something in which the
insured has an insurable interest established by ownership, possession, or pre-existing relationship.
The insured receives a contract, called the insurance policy, which details the conditions and circumstances under
which the insurer will compensate the insured. The amount of money charged by the insurer to the policyholder for
the coverage set forth in the insurance policy is called the premium. If the insured experiences a loss which is
potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims
adjuster. A mandatory out-of-pocket expense required by an insurance policy before an insurer will pay a claim is
called a deductible (or if required by a health insurance policy, a copayment). The insurer may hedge its own risk
by taking out reinsurance, whereby another insurance company agrees to carry some of the risks, especially if the
primary insurer deems the risk too large for it to carry.

An advertising poster for a Dutch insurance company from c. 1900–1918 depicts an armored knight

INSURANCE COMPANIES IN INDIA

LIST OF LIFE INSURANCE COMPANIES IN INDIA
LIST OF GENERAL INSURANCE COMPANIES IN INDIA
LIST OF LIFE INSURANCE COMPANIES IN INDIA:-
Life Insurance Corporation of Govt. Mumbai 1956
India
2 HDFC Standard Life Insurance Co. Ltd. Private Mumbai 2000

3 Max Life Insurance Co. Ltd. Private Delhi 2000

4 ICICI Prudential Life Insurance Co. Ltd. Private Mumbai 2000

5 Kotak Mahindra Life Insurance Co. Ltd. Private Mumbai 2001

6 Aditya Birla Sun Life Insurance Co. Ltd. Private Mumbai 2000

7 TATA AIG Life Insurance Co. Ltd. Private Mumbai 2001

8 SBI Life Insurance Co. Ltd. Private Mumbai 2001

9 Exide Life Insurance Co. Ltd. Private Bangalore 2001

10 Bajaj Allianz Life Insurance Co. Ltd. Private Pune 2001

11 PNB MetLife India Insurance Co. Ltd. Private Mumbai 2001

12 Reliance Nippon Life Insurance Company Private Mumbai 2001

13 Aviva Life Insurance Company India Ltd. Private Gurugram 2002

14 Sahara India Life Insurance Co. Ltd. Private Lucknow 2004

Hyderaba
15 Shriram Life Insurance Co. Ltd. Private 2005
d

16 Bharti AXA Life Insurance Co. Ltd. Private Mumbai 2008

17 Future Generali India Life Insurance Co. Ltd. Private Mumbai 2007

18 IDBI Federal Life Insurance Co. Ltd. Private Mumbai 2008

 Canara HSBC Oriental Bank of Commerce Life
19 Private Gurugram 2008
Insurance Co. Ltd.

20 Aegon Life Insurance Co. Ltd. Private Mumbai 2008

21 Pramerica Life Insurance Co. Ltd. Private Mumbai 2008

22 Star Union Dai-Ichi Life Insurance Co. Ltd. Private Mumbai 2008

23 IndiaFirst Life Insurance Co. Ltd. Private Mumbai 2009

24 Edelweiss Tokio Life Insurance Co. Ltd. Private Mumbai 2011

LIST OF GENERAL INSURANCE COMPANIES IN INDIA:-

Headquarter
Company Sector Founded
s

1 Acko General Insurance Private Mumbai 2016

2 Aditya Birla Health Insurance Private Mumbai 2015

3 Agriculture Insurance Company of India Govt. New Delhi 2002

4 Apollo Munich Health Insurance Private Gurgaon 2007

5 Bajaj Allianz General Insurance Private Pune 2001

6 Bharti AXA General Insurance Private Mumbai 2008

7 Cholamandalam MS General Insurance Private Chennai 2001

 Headquarter
Company Sector Founded
s

8 Cigna TTK Private Mumbai 1918

9 DHFL General Insurance Private Mumbai 2016

1
Digit Insurance Private Pune 2017
0

1
Edelweiss General Insurance Private Mumbai 2017
1

1
Export Credit Guarantee Corporation of India Govt. Mumbai 1957
2

1
Future Generali India Insurance Private Mumbai 2007
3

1
HDFC ERGO General Insurance Company Private Mumbai 2002
4

1
ICICI Lombard Private Mumbai 2001
5

1
IFFCO TOKIO General Insurance Private Gurugram 2000
6

1
Kotak Mahindra General Insurance Private Mumbai 2015
7

1
Liberty General Insurance Private Mumbai 2013
8

1
Magma HDI General Insurance Private Mumbai 2009
9
 Headquarter
Company Sector Founded
s

2
Max Bupa Health Insurance Private New Delhi 2008
0

2
National Insurance Company Govt. Kolkata 1906
1

2
New India Assurance Govt. Mumbai 1919
2

2
Raheja QBE General Insurance Private Mumbai 2007
3

2
Reliance General Insurance Private Mumbai 2000
4

2
Reliance Health Insurance Private Mumbai 2017
5

2
Religare Health Insurance Company Limited Private Gurgaon 2012
6

2
Royal Sundaram General Insurance Private Chennai 2000
7

2
SBI General Insurance Private Mumbai 2010
8

2
Shriram General Insurance Private Jaipur 2008
9

3
Star Health and Allied Insurance Private Chennai 2006
0

3
Tata AIG General Insurance Private Mumbai 2001
1
 Headquarter
Company Sector Founded
s

3
The Oriental Insurance Company Govt. New Delhi 1947
2

3
United India Insurance Company Govt. Chennai 1938
3

3 Universal Sompo General Insurance

Private Mumbai 2007
4 Company