List of Top 10 Insurance Companies in India: Life insurance, Health insurance, Agriculture insurance, Vehicle insurance, Mutual funds etc.
With the advent of economic liberalization, the Banking & insurance sector in India has grown rapidly in terms of capital and the number of customers.
Here we provide a list of Top 10 insurance Companies in India – 2013
Life Insurance Corporation of India (LIC) is the largest insurance group and investment company in India. Its a state-owned where Government of India has 100% stake. It has assets estimated of INR 13.25 trillion and provides employment to 115,966 workers.
2. ICICI Insurance (Prudential Life / Lombard)
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential plc. The company has a network of over 1,500 offices and over 1,60,000 advisors. The company has assets held over Rs. 65,000 crores.
ICICI Lombard GIC Ltd. is the largest private sector general insurance company in India. The company issued over 56 lakh policies and settled over 81 lakh claims. The company has a network of 315 branches. The company has about 5000 employees.
Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited and Allianz SE. It has won several business awards and is said to be the best private sector insurer.
Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group and Sun Life Financial. Birla Sun Life is one of the leading financial services company in India offering life insurance and other investment solutions.
Tata AIG General Insurance Company Limited is an Indian general insurance company, and a joint venture between the Tata Group and American International Group (AIG). It offers a range of general insurance products including insurance for automobile, home, personal accident, travel, energy, marine, property and casualty as well as several specialized financial lines.
IFFCO-TOKIO General Insurance (ITGI) is a joint venture between The Indian Farmers Fertiliser Cooperative Limited (IFFCO) and its
associates and Tokio Marine & Nichido Fire Insurance Group of Japan.
With 30% stake of the state-owned PNB, the Metlife insurance company got the reputation of a reliable insurance company in India.
The Oriental Insurance Company Ltd is held by the Central Government of India. The Company has a total strength of around 16, 000 employees.
HDFC Life (HDFC Standard Life Insurance Company) is an Indian private life insurance company. It is a joint venture between Housing Development Finance Corporation Ltd (HDFC) and Standard Life plc, provider of financial services in the UK. HDFC holds 74% of the equity while Standard Life holds 26%. The company has a network of over 700 branches and 16,000 employees.
10. Aviva India
Aviva India is a joint venture between Aviva and Dabur Group. Aviva India employs close to 3700 people, over 20,000 Financial Advisers with 135 branches across the country.
Note: The compiled list is purely based on our evolution of the insurance providing companies either life insurance or general insurance, and the rankings include several factors like service quality, customer satisfaction, market reputation etc.