As more people become aware of insurance, the Indian insurance market is expanding steadily. One significant contributing element to the same can also be attributed to the COVID-19 epidemic. Furthermore, the insurance industry has undergone a lot of change lately. Numerous insurers have listed themselves on Indian stock markets and gone public. Thus, if you invest in stocks, you may also choose to buy the stocks of insurance firms that are listed and profit from their success. The top 10 Indian life insurance companies by market capitalization are shown below.
- Aditya Birla Sun Life Insurance Co.
“Aditya Birla Capital Limited (ABCL) is the holding company for the financial services businesses of the Aditya Birla Group. ABCL’s subsidiaries have a strong presence across protecting, investing, and financing solutions. ABCL is a universal financial solutions group catering to the diverse needs of its customers across their life stages. Powered by more than 30,500 employees, the subsidiaries of ABCL have a nationwide reach with 1,048 branches, more than 2,00,000 agents, channel partners, and several bank partners.”
- Tata AIA Life Insurance Co., Ltd.
A term insurance plan helps you secure the future of your loved ones and shields your family from uncertainties in life. With a term insurance plan, one can get a large life cover (Sum Assured) at a lower premium. In the event of an unfortunate event, such as the death of the life assured in your family, the nominee is paid the sum assured as pre-defined in the policy.
- ICICI Prudential Life Insurance Co. Ltd., ICICI Prudential Life Insurance Company Limited (ICICI Prudential Life), is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited.
- Bajaj Allianz Life Insurance Co., Ltd.
“Bajaj Allianz Life Insurance Co. Ltd., one of India’s leading private life insurers, is a joint venture between Bajaj Finserv Limited, one of the most diversified non-banking financial institutions in India, and Allianz SE, one of the world’s leading global insurer and asset managers. We began operations in August 2001 from our headquarters in Pune, Maharashtra (India). With a focus on getting Life Goals DONE. Bajaj Allianz Life is committed to offering value-packed and innovative products that are simple to understand and purchase. They are designed to meet long-term life goals of customers, ranging from protection and wealth creation to retirement solutions and more.”
- SBI Life Insurance Co. Ltd. (SBI Life Insurance Company Limited) is an Indian life insurance company that was started as a joint venture between the State Bank of India and the French financial institution BNP Paribas Cardif. SBI has a 55.50% stake in the company, and BNP Paribas Cardif owns a 0.22% stake.
- Kotak Mahindra Life Insurance Co., Ltd.
“Kotak Mahindra Life Insurance Company Limited (Kotak Life) is a 100% subsidiary of Kotak Mahindra Bank Limited (Kotak). Kotak Life provides world-class life insurance products with high customer empathy. Its product suite leverages the combined prowess of protection and long-term savings. Kotak Life is one of the fastest-growing insurance companies in India and has covered 36.8 million active lives as of March 31, 2022. Please note that Kotak Mahindra Life Insurance Company Limited is open on the first and fourth Saturday of each month. Visit our website or your nearest branch for further information and details regarding our service offerings.”
- HDFC Life Insurance Co., Ltd.
“Our Vision We are the most successful and admired life insurance company, which means that we are the most trusted company, the easiest to deal with, offer the best value for money and set the standards in the industry. The most obvious choice for all. Our values that we observe while we work are: excellence, people engagement, integrity Engagement centricity, and collaboration.”
- PNB MetLife India Insurance Co. Ltd.
“PNB MetLife brings together the expertise of MetLife Inc., a leading global life insurance company. To add to its credibility is the revered name of Punjab National Bank, one of India’s oldest and leading nationalized banks. PNB MetLife’s vast distribution reach combined with global insurance expertise and product range makes it a strong and trusted name in the insurance market of India.”