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List Of Insurance Companies In India: Establishment Date & Other Detail

List Of Insurance Companies In India: There are mainly three categories of Insurance Companies in India such as Life Insurance Company, Health Insurance Company and General Insurance Company. Insurance has a long history in India. Manu’s Manusmrithi, Yagnavalkya’s Dharmasastra, and Kautilya’s Arthasastra all make mention of it. The works discuss gathering resources that could be given again in the event of disasters like fires, floods, epidemics, and famine. This most likely served as the forerunner to contemporary insurance. In the form of marine trade loans and carriers’ contracts, ancient Indian history has retained the oldest indications of insurance. India’s insurance industry has developed over time with significant influence from other nations, notably England. In this article we will be discussing List of insurance companies in India.

List Of Insurance Companies In India

The future is very uncertain therefore it is very necessary in today’s time to take the insurance. There are many private and public sector companies which provides insurance cover and this is one of the field where government wants to hold its stake as it has a direct impact on the earnings of general public. The government can’t fully allow private players to dominate the insurance sector as it will lead to monopoly and unfair charges.

What is Insurance?

Insurance is a contract, represented by a policy, in which a policyholder receives financial protection or reimbursement against losses from an insurance company in which the loss is happened due to the cause insured. The company pools clients’ risks to make payments more affordable for the insured. Insurance policies are used to hedge against the risk of financial losses, both big and small, that may result from damage to the insured or their property, or from liability for damage or injury caused to a third party. As an individual you can compare the insurance policies offered by various insurance companies in India.

List Of Insurance Companies In India: Life Insurance Company

Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period. Here we are providing below the list of life insurance companies in India including both public & private insurance companies.

Name Of Life Insurance Company (Private) Year Of Establishment
AVIVA Life Insurance Co. India Ltd. 2002
Aegon Life Insurance Co. Ltd 2008
Aditya Birla Sun life Insurance Co. Ltd. 2000
AGEAS Federal Life Insurance Company Limited 2008
Bharti AXA Life Insurance Co. Ltd. 2006
Bajaj Allianz Life Insurance Co. Ltd. 2001
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited 2008
Pramerica Life Insurance Limited 2008
Edelweiss Tokio Life Insurance Co. Ltd. 2011
Exide Life Insurance Company Limited 2000
Future Generali India Life Insurance Co. Ltd 2007
HDFC Life Insurance Co. Ltd 2000
ICICI Prudential Life Insurance Co. Ltd 2001
IndiaFirst Life Insurance Company Limited 2010
Kotak Mahindra Life Insurance Company Limited 2001
Max Life Insurance Co. Ltd 2001
PNB Metlife Insurance Co. Ltd. 2001
Sahara India Life Insurance Co. Ltd. 2004
SBI Life Insurance Co. Ltd. 2001
Shriram Life Insurance Co. Ltd. 2005
Star Union dai-ichi Life Insurance Co. Ltd. 2009
TATA-AIA Life Insurance Co. Ltd. 2001
Reliance Nippon Life Insurance Company Ltd. 2001

There is primarily only one public life insurance company which is LIC.

Name of Life Insurance Company (Public)  Year of Establishment
Life Insurance Corporation 1956

List Of Insurance Companies In India: General Insurance Company

Insurance contracts that do not come under the ambit of life insurance are called general insurance. The different forms of general insurance are fire, marine, motor, accident and other miscellaneous non-life insurance. Here we are providing below the list of private insurance companies in India providing General insurance.

Name of Insurance Company (Private)  Year Of Establishment
Acko General Insurance Limited 2016
Bajaj Allianz General Insurance Co Ltd 2001
Bharti AXA General Insurance Co Ltd 2007
Cholamandalam MS General Insurance 2001
Edelweiss General Insurance Co Ltd 2016
Future Generali India Insurance Co Ltd 2007
Go Digit General Insurance Limited 2016
HDFC Ergo General Insurance Co Ltd 2002
ICICI Lombard General Insurance Co Ltd 2000
IFFCO-Tokio General Insurance Co Ltd 2000
Kotak Mahindra General Insurance Co Ltd 2015
Liberty General Insurance Ltd 2013
Magma HDI General Insurance Co Ltd 2009
Navi General Insurance Ltd 2016
Raheja QBE General Insurance Co Ltd 2008
Reliance General Insurance Co Ltd 2000
Royal Sundaram General Insurance Co Ltd 2001
SBI General Insurance Co Ltd 2009
Shriram General Insurance Co Ltd 2008
Tata AIG General Insurance Co Ltd 2001
Universal Sompo General Insurance Co Ltd 2007

In the table given below, candidates can check the establishment year of the public general insurance companies.

Name of Insurance Company (Public) Year Of Establishment
National Insurance Co. Ltd. 1906
The New India Assurance Co. Ltd 1919
The Oriental Insurance Co. Ltd. 1947
United India Insurance Co. Ltd. 1938

List Of Insurance Companies In India: Health Insurance Company

Name of Insurance Company (Private) Year Of Establishment
Aditya Birla Health Insurance Co Ltd 2015
Care Health Insurance Ltd 2012
Manipal Cigna TTK Health Insurance Co Ltd 2014
Niva Bupa Health Insurance Co Ltd 2008
Star Health & Allied Insurance Co Ltd 2006

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FAQs: List Of Insurance Companies In India

Q.1 How many insurance companies are there in India?
Ans A list of all the Insurance companies in India is provided in the article above

Q.2 Where can I get list of private insurance companies in India?
Ans We have provided the list of private insurance companies in India in the article above

Q.3  Who is the Chairman of IRDA?
Ans Shri Debasish Panda is the chairman of IRDA

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