Indian Insurance Companies

April 8, 2010Indiaby KeithTimimi


With the rapid growth of the Indian Insurance industry, in particularly serving a Middle Class that is growing on both size and wealth every year, it is hardly surprisng that Indian insurance companies are growing, and playing an increasingly important role in the nation's financial services industry.

This increasing market is creating considerable competition among Indian insurance companies in an industry that 20 years ago was relatively small.

To date, India's Insurance Regulatory and Development Authority (IRDA), has granted registration to 12 private life insurance companies and nine general insurance companies.

Counting the existing public sector insurance companies, there are currently 13 Indian insurance companies in the life side and 13 Indian insurance companies operating in general insurance.

General Insurance Corporation has been approved as the Indian reinsurer for underwriting only reinsurance business. Particulars of the Indian insurance companies including both life insurance companies and general insurance companies are given below:

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 Co. Limited
ICICI Prudential Life Insurance Co. Limited
ING Vysya Life Insurance Company Limited
Max New York Life Insurance Co. Limited
MetLife Insurance Company Limited
Om Kotak Mahindra Life Insurance Co. Ltd.
SBI Life Insurance Company Limited
TATA AIG Life Insurance Company Limited
AMP Sanmar Assurance Company Limited
Dabur CGU Life Insurance Co. Pvt. Limited
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
ICICI Lombard General Insurance Co. Ltd.
IFFCO-Tokio General Insurance Co. Ltd.
Reliance General Insurance Co. Limited
Royal Sundaram Alliance Insurance Co. Ltd.
TATA AIG General Insurance Co. Limited
Cholamandalam General Insurance Co. Ltd.
Export Credit Guarantee Corporation
HDFC Chubb General Insurance Co. Ltd.  
General Insurance Corporation of India

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