For a sure fact, insurance companies have more than a meat to chew in the general economic growth in a particular country. Life insurance covers the general percentage of the total number of working taxpayers in India. Taking it to its core, the act of securing a life insurance gives a safe impression to the people. All your life’s work and efforts ought to pay off and so, you will need a good eye for checking the crème de la crème of the all the insurance companies in India.
Top 10 Insurance Companies in India
|1||Life Insurance Corporation (LIC)|
|2||SBI Life Insurance Company Limited|
|3||Birla Sun Life Insurance Company Limited (BSLI)|
|4||Reliance Life Insurance Company (RLIC)
|5||ICICI Prudential Life Insurance
|6||Tata AIG Life Insurance|
|7||ING Vysya Life Insurance|
|8||Bajaj Alliance Life Insurance|
|9||Max Life Insurance|
|10||HDFC Standard Life Insurance|
- Life Insurance Corporation (LIC)
Founded, established and operated in 1956 by international agents and brokers, the Life Insurance Corporation (LIC) is one of the most popular Indian insurance company. The Life Insurance Corporation has later been moved to Indian-ownership. What is most special about the company is its group schemes system that has fairly helped and enriched lives in India sine its operation. It offers reasonable plan categories for all: Endowment Plan, Money Back Plan, Term Assurance Plan, Pension Plans, Micro Insurance Plan, Withdrawn Plan, Unit Plan and Special Plan. For the record, the company has housed more or less 125,000+ agents and has built an asset of about 250 Billion Dollars because of that. The company is headquartered in Mumbai, India.
- SBI Life Insurance Company Limited
The SBI Life Insurance Company Limited holds the 2nd spot in the largest insurance brokerage agencies. Established in the not-so-later 2001, the company was originally a joint venture between State Bank of India (SBI) & BNP Paribas Assurance. The SBI Life Insurance Company Ltd. is best known internationally for its effective and reliable insurance funding. With over 7,500 on-roll employees and 96,000 agents worldwide, there is no further doubt on the company’s recently acquired asset of about 150 Billion Dollars this year. The company is headquartered Mumbai, India.
- Birla Sun Life Insurance Company Limited (BSLI)
Since its establishment in 2000, the Birla Sun Life Company Ltd. has already rocked the world on a fair note. The company is a joint venture inception between the Aditya Birla Group and the Sun Life Financial Incorporated. Its main edge over the other companies is its very affordable and double-the-prize insurance plans. Very much liked to a time deposit in a banking domain, this type of insurance proves to be most beneficial for couples who are on family way. With a breaking number of the 133,000+ employees, it successfully hit asset marks over the years. The company’s head office is located in Mumbai, India.
- Reliance Life Insurance Company (RLIC)
The Reliance Insurance Company (RLIC) was founded, established and started in 2001. The company has predicted by many economists to move up to the number one spot in the years to come. The company has been titled as the largest private sector financial services company in India. It has also built insurance empires globally from its diverse subsidiaries. With a total number of 125,000+ active agents, it was able to hit an approximate asset of over 17,000 Crores in 2016. Its main office is situated in Navi Mumbai, India.
- ICICI Prudential Life Insurance
The ICICI Prudential Life was established in the year 2000. The Prudential Company is a leading name in the market due to its very practical plan offerings and impressive customer service system. With its 970 branches worldwide and 15,000 active employees/agents, it was able to hit a 250 Million Dollars asset this year.
- Tata AIG Life Insurance
The Tata AIG Life Insurance was established in 2001. The company is another product of joint venture between Tata Group and the American International Group (AIG). Its diverse insurance system proves to be the most unique from all other companies. Housing an approximate number of about 10,000+ employees in India, it was able to hit its asset over the years. The company’s head office is located in Mumbai, India.
- ING Vysya Life Insurance
The ING Vysya Life was established and started social security services in the not-so-later year in 2001 The company is a product from a successful venture between ING Insurance B.V. and the Exide Industries. Both industries happen to possess the same rapport in direct insurance placement to clients all over the world. That is one reason why the ING Vysya Lifer Insurance Company has easily spread through over 200 cities in the world. The company has 7,700+ employees and had served over 1 million policy holders in India alone. The company’s main office is located in Mumbai, India.
- Bajaj Alliance Life Insurance
The Bajaj Alliance Life was founded and established in 2001 by both private and public sectors in the Indian Insurance Industry Association. A joint venture between Allainz and Bajaj Auto Limited, the company has been known to supersede its main source companies. Its insurance offers may be limited to certain aspects, but its insurance policies are proven to be downright efficient than any other companies India. It offers Life and Health Insurance, Term Plans, Pension Plans, Traditional Plans e.t.c. It houses over 7,000+ Indian employees and it has an asset figure of about 35 Million Dollars this year. The company is headquartered in Pune, India.
- Max Life Insurance
The Max Life Insurance firm was founded and established in 2000. The Max Life Insurance is very famous for its diverse and efficient insurance policies. It is a joint venture between Matsui Sumitomo Insurance Co. Ltd. The company holds over 46,000+ Indian employees and has developed an asset of about 11 Million Dollars this year. The company is headquartered in New Delhi, India.
- HDFC Standard Life Insurance
The HDFC Standard Life Insurance was founded, established and started in 2000 by business tycoon Hasmukhbhai Parekh. From then on, the company maintains its position in the Indian insurance companies. The highlight of the company’s insurance offers includes Pension, Savings, and Protection, Social Security, Insurance Protection for Women and Children and many others. All-in-all, the company is represented by about 500-15,000 branches in India per se, housing over a 100,000+ employees. With these factors at hand, the company has and will always maintain its move in the game with a 40 Million Dollar asset at hand. The company’s head office is located in Mumbai, India.