Here is the list of top Insurance Companies in India. These companies are known to be the best companies in finance as well as life insurance sector. Go ahead, and have a look at the list of top Insurance companies mentioned below:
- Life Insurance Corporation of India
The Life Insurance Corporation of India also known as LIC is indeed India’s largest Insurance Company that is completely owned by the Government of India. LIC is amongst the largest investor in the country and have the estimated asset of about 8 Trillion. Besides this LIC funds approx 24.6% of expenses of the Government of India. LIC is established in the year 1956 and its headquarters is in Mumbai, consisting of 8 zonal offices, 2048 branch offices, 100 divisional offices that is spread in a vast network by 1002149 agents across the country. LIC consists of several subsidiaries that include: – LIC Housing Finance, LIC Nepal, LIC Lanka, LIC of India International and LICHFL Cares Homes. One of the major reasons for its success is due to its adaptability.
- Tata AIG Insurance Solutions
Tata AIG Insurance is known to be the leading Insurance provider in India that has started its operation on 1st April 2001. Tata AIG Insurance solution is a joint venture between the TATA group having stake of 74% and American International Group Inc also known as AIG having 26% stake. Tata AIG has two varied units of general insurance and life insurance. The General Insurance unit is called as TATA AIG General Insurance Company Ltd. And the life insurance unit is called as TATA AIG Life Insurance Company Ltd. One of the major reasons why employees are dedicated to work at TATA AIG is due to its career opportunities and growth of the organization.
- Bajaj Allianz General Insurance
Bajaj Allianz General Insurance has the affirmation of Allianz that is known to be one of the leading insurers in the world. Another top manufacturer of the motorcycle manufactures in India is Bajaj. It was established in the year 2001. Bajaj Allianz offer wide range of Insurance services and products through a network that include 200 offices in India. There are some areas where they operate- Health, Travel, Commercial, Auto and Homeowners. The majority of the revenue comes from the automotive insurance.
- AVIVA Life Insurance
One of the popular insurance companies includes AVIVA Life Insurance; it is a joint venture between the renowned businesses groups i.e. the Insurance group in UK Aviva plc and Dabur. They have an extensive network of about 40 Banc assurance partnerships that is spread across 3000 town and cities having 208 branches all over India.
- HDFC Standard Life Insurance
HDFC Standard Life Insurance also known as HDFC Life is one of the leading names amongst the private enterprise in India. They deal in both individual and group products. They possess adequate financial capability that takes care of long term investment in safe and resourceful manner. Its commendable presence in 700 cities and town and 568 branches helps in dealing with various requirements of the customers such as investment, pensions, savings, protection and protection. They offer customized plans for the customer benefits.
- ICICI Lombard General Insurance
ICICI Lombard General Insurance prevails in different domains that include general insurance, reinsurance, investment management and insurance claim management programs. ICICI Lombard General Insurance has risen to the top and that too in a short time period of time. It is also India’s first organization that has received ISO 9001 2000 recognition. ICRA has provided that rating as iAAA that indicates highest level of potency when it comes to amortize claims.
- SBI Life Insurance
SBI Life Insurance is the joint venture of Life Insurance Company between the largest state-owned financial and banking services companies BNP Paribas Insurance and State Bank of India. They own 74% of the total capital and remaining 26 % by BNP Paribas Assurance. Also they have a paid up capital of 10 billion and an authorized capital of 20 billion. They offer their customer Saving Plans, Insurance Plans, Child Insurance Plans, etc.
- Reliance Life Insurance
Reliance Life Insurance is amongst the leading private life insurance companies when it comes to new business premium. They have almost 7 billion policy holders across the world and this firm offer life insurance products that is been targeted at groups and individuals. Reliance Life Insurance is the vital part of the Reliance Capital- Reliance Anil Dhirubhai Ambani Group. Reliance Life Insurance is rated amongst the top most trusted brands in Insurance Category.
- Birla Sun Life Financial Services
Birla Sun Life Financial Services is a joint venture between Sun Life Financial Inc and Aditya Birla Group. They have got an extensive network that includes 600 branches and more than 175000 advisors, these covers more than two million lives.
