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Insurance Industry

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Life Insurance Companies Aviva Life Bajaj Allianz Life Birla Sun-Life HDFC Standard Life ING Vysya Life Life Insurance Corporation Max New York Life MetLife Om Kotak Mahindra Reliance Life Sahara India Life SBI Life TATA AIG Life How companies Make Money Private Insurance Companies New Insurance Products General Insurance Companies Agriculture Amsure ANZ Cholamandalam Employee State Export Credit Guarantee ICICI Lombard IFFCO-Tokio General National Oriental Peerless Smart Financial Royal Sundaram Alliance TATA AIG General

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the business of Indian life insurance started in the year 1818. 1956: 245 Indian and foreign insurers and provident societies were taken over by the central government and they got nationalized. (the first general insurance company) which was formed in the year 1850 in Kolkata by the British. LIC Act. 2011 Home » Insurance» History Of Insurance Sector History Of Insurance Sector Brief history of insurance sector The insurance sector in India has completed all the facets of competition –from being an open competitive market to being nationalized and then getting back to the form of a liberalized market once again.    For Senior Citizens For Doctors For NRI For Mobile Phones Travel Insurance Accident Insurance Health Insurance Mediclaim Policies Online Insurance Policy Insurance Tips Medical Care  Business  Companies  Insurance  Stocks  Finance  Banks  Schools  Last Updated On: October 30. With the establishment of the Oriental Life Insurance Company in Kolkata. It started off with a capital of ` 5 crore and that too from the Government of India. Important milestones in the Indian life insurance business     1912: The Indian Life Assurance Companies Act came into force for regulating the life insurance business. viz. Important milestones in the Indian general insurance business . LIC was formed by an Act of Parliament. The history of the insurance sector in India reveals that it has witnessed complete dynamism for the past two centuries approximately. The history of general insurance business in India can be traced back to Triton Insurance Company Ltd. 1956. 1938: The earlier legislation consolidated the Insurance Act with the aim of safeguarding the interests of the insuring public. 1928: The Indian Insurance Companies Act was enacted for enabling the government to collect statistical information on both life and non-life insurance businesses.

the New India Assurance Company Ltd. 1972: The General Insurance Business (Nationalization) www. List of Insurance companies in India LIFE INSURERS Public Sector Life Insurance Corporation of India Private Sector Allianz Bajaj Life Insurance Company Limited Birla Sun-Life Insurance Company Limited HDFC Standard Life Insurance www.omkotakmahnidra. Ltd. 107 insurers integrated and grouped into four companies viz. If the existing public sector insurance companies are considered then there are presently 13 insurance companies in the life side and 13 companies functioning in general insurance Limited ICICI Prudential Life Insurance Co. 1968: The Insurance Act improved for regulating investments and set minimal solvency levels and the Tariff Advisory Committee was set up. Limited ING Vysya Life Insurance Company Limited Max New York Life Insurance www. the Oriental Insurance Company www. and the United India Insurance Company Ltd. Limited MetLife Insurance Company Limited Om Kotak Mahindra Life Insurance Co.. 1972 nationalized the general insurance business in www. 1957: General Insurance . an arm of the Insurance Association of www. GIC was incorporated as a    1907: The Indian Mercantile Insurance Ltd. was set up which was the first company of its type to transact all general insurance business.tata-aig.hdfcinsurance. the National Insurance Company Ltd. It was with effect from 1st January 1973. Insurance companies in India IRDA has till now provided registration to 12 private life insurance companies and 9 general insurance companies. General Insurance Corporation has been sanctioned as the "Indian reinsurer" for underwriting only reinsurance business.birlasunlife. framed a code of conduct for guaranteeing fair conduct and sound business patterns. SBI Life Insurance Company Limited TATA AIG Life Insurance Company Limited AMP Sanmar Assurance Company Limited Websites www. Limited ICICI Lombard General Insurance >> More About Insurance About Insurance            Indian Insurance Industry Insurance History Functions of Insurance IRDA Insurance Policy Insurance Market Insurance Jobs Insurance Courses India Insurance General Insurance Credit Insurance . Reliance General Insurance Co.niacl. Limited GENERAL INSURERS Public Sector National Insurance Company Limited New India Assurance Company Limited Oriental Insurance Company Limited United India Insurance Company Limited Private Sector Bajaj Allianz General Insurance Co. Limited Royal Sundaram Alliance Insurance ? www.bajajallianz. www.tata-aig. Limited Cholamandalam General Insurance Co. Export Credit Guarantee Corporation HDFC Chubb General Insurance Co.Dabur CGU Life Insurance Co. Ltd. TATA AIG General Insurance www.royalsun. www. www. REINSURER General Insurance Corporation of India www. www.uiic. IFFCO-Tokio General Insurance Co. Ltd.nic.

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