HDFC Life, a leading life insurer in India, began in 2000 as a joint venture between HDFC Bank and Standard Life Aberdeen. It offers diverse plans and boasts a strong network of branches, partnerships, and a subsidiary in UAE.
SBI Life Insurance, a joint venture between SBI and BNP Paribas Cardif, is a leading life insurer in India. Majority owned by SBI (55.28%), it boasts a strong financial standing with Rs. 67,320 crore GWP and Rs. 359 lakhcrore AuM as of March 2023.
ICICI Prulife offers life, savings, health insurance (UL, participating, non-participating) via people, corporate, banks, dealers, salespeople, website. ICICI Bank (51%) & Prudential Plc (22%) own it, serving individuals, SMEs, corporations across Asia, Africa.
Focus on health insurance, market leader in specialized segments, high growth potential.
India’s giant insurer LIC, managed by the government, topped domestic investors with $620 billion assets in March 2023. Born from nationalization in 1956, it boasts 290 million policyholders and boasts record sales and claims settlement.
India’s largest non-life insurer New India Assurance, government-backed (86% GoI) since 1973, gained independence from GIC in 1999.
Top Indian general insurer ICICI Lombard, founded in 2001, offers a wide range of insurance products through various channels. Initially a joint venture, ICICI Bank now holds the majority stake.