Life Insurers Premium

Total Life Premium

2019-2020

572910.19

In (cr.)

2020-2021

628731.01

In (cr.)

2021-2022

692614.12

In (cr.)

Company Type Category 2020 2021 2022
Aditya Birla Sun Life Insurance Co. Ltd. Life Insurance Private 8009.979775.2212140.23
Aegon Life Insurance Co. Ltd. Life Insurance Private 575.74526.07416.46
Ageas Federal Life Insurance Co. Ltd. Life Insurance Private 1842.511958.642207.3
Aviva Life Insurance Co. Ltd. Life Insurance Private 1193.641165.251268.15
Bajaj Allianz Life Insurance Co. Ltd. Life Insurance Private 9752.5312024.8416127.05
Bharti AXA Life Insurance Co. Ltd. Life Insurance Private 2187.262280.822601.56
Canara HSBC OBC Life Insurance Co. Ltd. Life Insurance Private 3942.825116.035889.92
Edelweiss Tokio Life Insurance Co. Ltd. Life Insurance Private 1048.481248.241464.2
Exide Life Insurance Co. Ltd. Life Insurance Private 3219.593324.753767.96
Future Generali Life Insurance Co. Ltd. Life Insurance Private 1480.251322.191433.54
HDFC Life Insurance Co. Ltd. Life Insurance Private 32706.8938583.4945962.83
ICICI Prudential Life Insurance Co. Ltd. Life Insurance Private 33430.735732.8237457.99
IndiaFirst Life Insurance Co. Ltd. Life Insurance Private 3360.444055.55186.56
Kotak Mahindra Life Insurance Co. Ltd. Life Insurance Private 10340.0811100.2213015.11
Max Life Insurance Co. Ltd. Life Insurance Private 16183.6519017.922414.17
PNB MetLife India Insurance Co. Ltd. Life Insurance Private 5506.966032.827348.26
Pramerica Life Insurance Co. Ltd. Life Insurance Private 1228.06993.61098.78
Reliance Nippon Life Insurance Co. Ltd. Life Insurance Private 4440.944736.455036.57
Sahara India Life Insurance Co. Ltd. Life Insurance Private 87.4373.261.44
SBI Life Insurance Co. Ltd. Life Insurance Private 40634.7350254.1758759.64
Shriram Life Insurance Co. Ltd. Life Insurance Private 1729.052018.532349.6
Star Union Dai-ichi Life Insurance Co. Ltd. Life Insurance Private 2310.362998.624136.8
TATA AIA Life Insurance Co. Ltd. Life Insurance Private 8308.5111105.0914445.03
Life Insurance Corporation of India Life Insurance Public 379389.6403286.55428024.97

Total Premiums- Life Insurance

The data shows the yearly gross premium underwritten by life insurers. Premium is the amount that is paid to the insurer to assume the risk and compensate the insured in case of any contingency. Gross premium is an important business figure to understand the growth of the business. Constant growth in insurance premiums indicates growth in business. As premium is the major source of income for an insurer, it is important that the inflow is maintained.

According to the IRDAI report of 2021-22, the top 3 companies in terms of Life Insurance Premiums Underwritten are:

  • SBI Life Insurance - INR 58,759.64 Crores
  • HDFC Life Insurance - INR 45,962.83 Crores
  • ICICI Prudential Life Insurance - INR 37,457.99 Crores