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Life Insurers Solvency Ratio
| Company | Type | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Aditya Birla Sun Life Insurance Co. Ltd. | Life Insurance | 1.9 | 1.8 | 1.9 | 1.7 |
| Aegon Life Insurance Co. Ltd. | Life Insurance | 2.4 | 2.6 | 3 | 3.1 |
| Ageas Federal Life Insurance Co. Ltd. | Life Insurance | 2.9 | 3.4 | 3.1 | 3.1 |
| Aviva Life Insurance Co. Ltd. | Life Insurance | 7.7 | 2.4 | 2.1 | 1.8 |
| Bajaj Allianz Life Insurance Co. Ltd. | Life Insurance | 1.8 | 7.2 | 6.1 | 5.2 |
| Bharti AXA Life Insurance Co. Ltd. | Life Insurance | 3.8 | 1.8 | 1.7 | 1.6 |
| Canara HSBC OBC Life Insurance Co. Ltd. | Life Insurance | 2.2 | 3.2 | 2.8 | 2.7 |
| Edelweiss Tokio Life Insurance Co. Ltd. | Life Insurance | 1.9 | 2.2 | 2 | 2.1 |
| Exide Life Insurance Co. Ltd. | Life Insurance | 1.6 | 2.2 | 2.1 | 1 |
| Future Generali Life Insurance Co. Ltd. | Life Insurance | 1.9 | 1.7 | 1.7 | 2 |
| HDFC Life Insurance Co. Ltd. | Life Insurance | 2.1 | 2 | 1.9 | 2 |
| ICICI Prudential Life Insurance Co. Ltd. | Life Insurance | 3.2 | 2.1 | 2 | 2 |
| IndiaFirst Life Insurance Co. Ltd. | Life Insurance | 1.8 | 1.8 | 1.7 | 2 |
| Kotak Mahindra Life Insurance Co. Ltd. | Life Insurance | 3 | 3 | 2.6 | 2.8 |
| Max Life Insurance Co. Ltd. | Life Insurance | 2.2 | 2.1 | 2 | 1.9 |
| PNB MetLife India Insurance Co. Ltd. | Life Insurance | 2 | 2 | 1.9 | 1.9 |
| Pramerica Life Insurance Co. Ltd. | Life Insurance | 3.5 | 4.2 | 4 | 4.1 |
| Reliance Nippon Life Insurance Co. Ltd. | Life Insurance | 2.4 | 2.3 | 2.3 | 2.3 |
| Sahara India Life Insurance Co. Ltd. | Life Insurance | 8.3 | 9.1 | 8.8 | 0 |
| SBI Life Insurance Co. Ltd. | Life Insurance | 2.2 | 2.3 | 2.1 | 2.2 |
| Shriram Life Insurance Co. Ltd. | Life Insurance | 1.9 | 2 | 2.2 | 2.1 |
| Star Union Dai-ichi Life Insurance Co. Ltd. | Life Insurance | 2.6 | 2.3 | 1.9 | 2.2 |
| TATA AIA Life Insurance Co. Ltd. | Life Insurance | 2 | 2.1 | 1.9 | 1.8 |
| Life Insurance Corporation of India | Life Insurance | 1.6 | 1.8 | 1.8 | 1.8 |
The solvency ratio of any insurance provider is the indicator of capital adequacy and is calculated as the ratio of "Available solvency margin to Required Solvency Margin". A good solvency ratio indicates the financial health of the business and means that if the time arrives, the company will be able to pay its liabilities without any default. This also means that the cash flow of the company is sufficient enough to meet its all liabilities and thus it will be able to pay the sum assured it promised to its customers whatsoever.
According to IRDAI regulations, it is a mandate for insurance providers to maintain a 1.5 solvency ratio. As per the latest IRDAI report for the year 2022-23, leading Life insurance providers with the highest solvency ratio are