Life Insurers Performance – First Year Premium – FY 2022-23

IRDAI has uploaded the Industry statistics on the First year Premium for Life Insurers for the Financial Year 2022-23.

Summary of the details are as under:

Insurer

Premium

No. of Policies Schemes

No. of lives covered under group schemes

Sum Assured

insurer

Growth over Prev. year in %

Market Share in %

Growth over Prev. year in %

Market Share in %

Growth over Prev. year in %

Market Share in %

Growth over Prev. year in %

Market Share in %

LIC of India

16.67

62.58

-5.93

71.76

14.70

13.72

18.93

17.00

Public sector total

INR 2,31,900 Crore

2,04,65,055 Policies

3,66,22,375 Lives

INR 12,37,475 Crore

SBI Life

16.22

7.98

14.27

7.71

34.69

6.91

13.79

9.05

HDFC Life

18.83

7.79

8.53

3.48

26.55

25.21

46.56

14.45

ICICI Prudential Life

12.55

4.57

-7.64

2.12

47.65

17.95

34.70

14.30

Bajaj Allianz Life

17.53

2.90

29.11

2.15

-2.26

10.34

22.08

7.22

Max Life

13.35

2.42

-2.73

2.09

13.79

1.57

7.46

4.31

Tata AIA Life

59.35

2.30

22.60

2.29

46.64

0.57

64.18

9.20

Aditya Birla Sun Life

35.42

2.07

7.98

0.85

115.68

2.07

68.66

4.80

Kotak Mahindra Life

24.84

2.07

2.97

1.23

13.47

8.99

51.90

4.73

Canara HSBC Life

31.61

0.99

4.77

0.65

47.60

2.23

22.36

2.36

PNB Met Life

30.44

0.87

11.82

1.01

8.21

1.01

-9.27

3.41

Star Union Dai-ichi Life

61.86

0.84

51.29

0.68

18.76

2.58

23.51

2.59

India First Life

2.90

0.73

17.88

1.10

56.95

3.23

-14.32

2.16

Shriram Life

7.66

0.31

6.26

1.02

-20.12

1.90

-7.22

0.97

Reliance Nippon Life

-12.23

0.30

-4.49

0.52

48.40

0.12

2.37

0.35

Bharti Axa Life

8.79

0.27

-13.69

0.37

-3.48

0.18

-25.65

0.32

Aegas Federal Life

11.63

0.25

6.00

0.16

149.11

0.03

20.89

0.22

Future Generali Life

52.94

0.19

8.64

0.15

-1.95

0.04

22.11

0.42

Pramerica Life

129.13

0.19

19.34

0.12

119.77

0.86

19.20

0.84

Edelweiss Tokio Life

13.13

0.15

-13.66

0.20

-21.85

0.10

-35.18

0.16

Exide Life*

-56.56

0.12

-51.98

0.22

-86.90

0.05

-20.04

0.73

Aviva Life

16.12

0.09

14.40

0.10

195.89

0.27

86.71

0.39

Aegon Life

-31.30

0.00

-67.63

0.01

103.40

0.06

-91.82

0.03

Private sector total

20.03

37.42

8.81

28.24

25.28

86.28

27.73

83.00

INR 1,38,644 Crore

80,52,126 Policies

23,02,78,507 Lives

INR 60,42,628 Crore

Industry total

17.91

100.00

-2.19

100.00

23.72

100.00

26.14

100.00

INR 3,70,543 Crore

2,85,17,181 Policies

26,69,00,882 Lives

INR 72,80,103 Crore

Source category: IRDAI

Attachments

• /2023/188_2023-04-21_-_Life_Insurers_Performance_-_First_Year_Premium_-_FY_2022-23.pdf