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Top 10 Life Insurance companies in india in 2012 | Best life insurance companies in india |
The list of top 10 best life insurance companes in India in 2011 2012 is given below for your quick reference and information. Needless to say, that there are many good life insurance companies in india today, however the top 10 life insurance companies in india in 2012, ranked as per market share of new business premiums are given below The top 10 best Life insurance companies in india in 2012 ranked as per market share are :
Life Insurance Corporation of India (LIC) HDFC Life Insurance Company Ltd ICICI Prudential Life Insurance Company SBI Life Insurance company Bajaj Allianz Life Insurance company Birla Sun life Insurance company Max New York Life Insurance company Reliance Life Insurance company Tata AIG Life Insurance company Kotak Life Insurance company
BRIEF REVIEWS OF THE TOP 10 BEST LIFE INSURANCE COMPANIES IN INDIA IN 2012
Life Insurance Corporation of India (LIC) LIC is the oldest and by far the largest player in the life insurance industry in India. It was the only life insurance company in India until the time the Government of India took the decision to open up the insurance sector to the private companies in the year 2000. LIC continues to be the dominant life insurer even in the liberalized scenario of Indian insurance and is moving fast on a new growth trajectory surpassing its own past records.
HDFC Life Insurance Company Ltd Promoted by HDFC bank, this company has risen to the top position in the private sector this year. In the year 2011, so far it has underwritten policies worth Rs 11000 crores as of October end 2011 and has a marketshare of more than 8%. HDFC Life believes that establishing a strong and ethical foundation is an essential prerequisite for long-term sustainable growth. To ensure this, they have concentrated their focus on expansion of branch network, organising an efficient and well trained sales force, and setting up appropriate systems and processes with optimum use of technology.
ICICI Prudential Life Insurance Company ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank - one of India's foremost financial services companies and Prudential plc - a leading international financial services group headquartered in the United Kingdom. ICICI Bank holds a stake of 74% and Prudential plc holds 26%. They have a network of approximately 1,400 offices and over 5000 distribution touch-points and over 10,000 servicing touch-points across the country.
SBI Life Insurance company SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Cardif. SBI owns 74% of the total capital and BNP Paribas Cardif the remaining 26%. SBI Life Insurance has an authorized capital of Rs. 2,000 crores and a paid up capital of Rs 1,000 crores. Along with its 5 Associate Banks, State Bank Group has the unrivalled strength of over 18,000 branches across the country, arguably the largest in the world.
Bajaj Allianz Life Insurance company Bajaj Allianz Life Insurance is a union between Allianz SE, one of the largest Insurance Company and Bajaj Finserv. Allianz SE has over 119 years of financial experience and is present in over 70 countries around the world.
Birla Sun life Insurance company Established in 2000, Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, a well known and trusted name globally amongst Indian conglomerates and Sun Life Financial Inc, leading international financial services organization from Canada. The local knowledge of the Aditya Birla Group combined with the domain expertise of Sun Life Financial Inc., offers a formidable protection for its customers' future. Max New York Life Insurance company Max New York Life Insurance Company Ltd. is a joint venture between New York Life, a Fortune 100 company and Max India Limited, one of India's leading multi-business corporations. Max New York Life Insurance has partnered with 50 companies, so that their products are available at 1453 locations.
Reliance Life Insurance company Reliance Life Insurance is a Reliance Capital Company and is part of Reliance Group. Reliance Capital is one of India’s leading private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital has interests in asset management and mutual funds, stock broking, life and general insurance, proprietary investments, private equity and other activities in financial services.
Tata AIG Life Insurance company Tata AIG Life Insurance Company Limited (Tata AIG Life) is a joint venture company, formed by Tata Sons and AIA Group Limited (AIA). Tata AIG Life combines Tata's pre-eminent leadership position in India and AIA's presence as the largest, independent listed pan-Asia life insurance group in the world spanning 15 markets in Asia Pacific. Tata Sons holds a majority stake (74%) in the company and AIA holds 26% through an AIA Group company.
Kotak Life Insurance company Kotak Mahindra Old Mutual Life Insurance Ltd is a 74:26 joint venture between Kotak Mahindra Bank Ltd., its affiliates and Old Mutual plc. A Company that combines its international strengths and local advantages to offer its customers a wide range of innovative life insurance products, helping them take important financial decisions at every stage in life and stay financially independent. The company covers over 3 million lives and is one of the fastest growing insurance companies in India
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