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Total Life Premium
2020-2021
In (cr.)
2021-2022
In (cr.)
2022-2023
In (cr.)
| Company | Type | Category | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Aditya Birla Sun Life Insurance Co. Ltd. | Life Insurance | Private | 8009.97 | 9775.22 | 12140.23 | 15069.69 |
| Aegon Life Insurance Co. Ltd. | Life Insurance | Private | 575.74 | 526.07 | 416.46 | 369.95 |
| Ageas Federal Life Insurance Co. Ltd. | Life Insurance | Private | 1842.51 | 1958.64 | 2207.3 | 2289 |
| Aviva Life Insurance Co. Ltd. | Life Insurance | Private | 1193.64 | 1165.25 | 1268.15 | 1317.45 |
| Bajaj Allianz Life Insurance Co. Ltd. | Life Insurance | Private | 9752.53 | 12024.84 | 16127.05 | 19461.43 |
| Bharti AXA Life Insurance Co. Ltd. | Life Insurance | Private | 2187.26 | 2280.82 | 2601.56 | 2920.58 |
| Canara HSBC OBC Life Insurance Co. Ltd. | Life Insurance | Private | 3942.82 | 5116.03 | 5889.92 | 7197.38 |
| Edelweiss Tokio Life Insurance Co. Ltd. | Life Insurance | Private | 1048.48 | 1248.24 | 1464.2 | 1690.47 |
| Exide Life Insurance Co. Ltd. | Life Insurance | Private | 3219.59 | 3324.75 | 3767.96 | 0 |
| Future Generali Life Insurance Co. Ltd. | Life Insurance | Private | 1480.25 | 1322.19 | 1433.54 | 1758.01 |
| HDFC Life Insurance Co. Ltd. | Life Insurance | Private | 32706.89 | 38583.49 | 45962.83 | 57533.42 |
| ICICI Prudential Life Insurance Co. Ltd. | Life Insurance | Private | 33430.7 | 35732.82 | 37457.99 | 39932.78 |
| IndiaFirst Life Insurance Co. Ltd. | Life Insurance | Private | 3360.44 | 4055.5 | 5186.56 | 6074.53 |
| Kotak Mahindra Life Insurance Co. Ltd. | Life Insurance | Private | 10340.08 | 11100.22 | 13015.11 | 15320.46 |
| Max Life Insurance Co. Ltd. | Life Insurance | Private | 16183.65 | 19017.9 | 22414.17 | 25341.91 |
| PNB MetLife India Insurance Co. Ltd. | Life Insurance | Private | 5506.96 | 6032.82 | 7348.26 | 8785.21 |
| Pramerica Life Insurance Co. Ltd. | Life Insurance | Private | 1228.06 | 993.6 | 1098.78 | 1495.39 |
| Reliance Nippon Life Insurance Co. Ltd. | Life Insurance | Private | 4440.94 | 4736.45 | 5036.57 | 5122.1 |
| Sahara India Life Insurance Co. Ltd. | Life Insurance | Private | 87.43 | 73.2 | 61.44 | 44.19 |
| SBI Life Insurance Co. Ltd. | Life Insurance | Private | 40634.73 | 50254.17 | 58759.64 | 67315.6 |
| Shriram Life Insurance Co. Ltd. | Life Insurance | Private | 1729.05 | 2018.53 | 2349.6 | 2546.4 |
| Star Union Dai-ichi Life Insurance Co. Ltd. | Life Insurance | Private | 2310.36 | 2998.62 | 4136.8 | 5746.37 |
| TATA AIA Life Insurance Co. Ltd. | Life Insurance | Private | 8308.51 | 11105.09 | 14445.03 | 20503.5 |
| Life Insurance Corporation of India | Life Insurance | Public | 379389.6 | 403286.55 | 428024.97 | 474668.14 |
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 business growth. As premium is the major source of income for an insurer, the inflow must be maintained.
According to the IRDAI report of 2022-23, the top 3 companies in terms of Life Insurance Premiums Underwritten are: