IRDAI has uploaded the Industry statistics on the First year Premium for Life Insurers for the Financial Year 2023-24
Summary of the details are as under:
New Business Statement of Life Insurers for the Period ended 31st October 2023
(Premium & Sum Assured in Rs.Crore)
Insurer
Premium
No. of Policies / Schemes
No. of lives covered under Group Schemes
Sum Assured
Growth over prev year in %
Market Share %
Growth over prev year in %
Market Share %
Growth over prev year in %
Market Share %
Growth over prev year in %
Market Share %
LIC of India
-22.71
58.47
-0.58
68.73
83.55
15.65
64.85
19.31
Public sector total
108289.77 Crores
9498478 Policies
28420678 Lives
970749.44 Crores
SBI Life
26.3
10.27
6.63
8.38
172.09
10.95
41.04
8.12
HDFC Life
18.27
8.28
27.43
4.07
14.15
20.91
50.35
14.24
ICICI Prudential Life
2
4.72
1.57
2.26
9.44
14.95
2.13
11.31
Bajaj Allianz Life
1.62
3.15
21.78
2.64
-29.43
5.84
16.18
6.77
Max Life
27.87
2.7
25.35
2.49
78.67
2.17
93.92
5.41
Tata AIA Life
20.08
2.28
12.61
2.6
109.33
0.73
58.81
9.34
Aditya Birla Sun Life
2.42
2.16
19.38
1
-13.16
1.53
-5.59
3.14
Kotak Mahindra Life
9.42
2.03
-3.70
1.02
15.69
7.74
22.16
3.9
Canara HSBC Life
15.03
0.87
7.29
0.67
48.41
4.41
49.15
3.64
PNB Met Life
6.86
0.87
1.6
1.07
-42.07
0.51
-40.55
1.53
Star Union Dai-ichi Life
-4.30
0.92
1.88
0.71
-4.90
1.52
33.98
2.18
India First Life
37.95
1.1
0.15
1.16
158.89
6.21
211.34
4.83
Shriram Life
77.67
0.53
16.55
1.28
166.94
3.77
66.33
1.15
Reliance Nippon Life
9.66
0.33
18.75
0.72
76.96
0.09
35.97
0.31
Bharti Axa Life
-12.75
0.23
-4.19
0.35
20.91
0.17
-18.71
0.19
Ageas Federal Life
29.32
0.30
20.12
0.21
4048.45
0.37
34.68
0.22
Future Generali Life
-42.25
0.11
-14.53
0.12
-33.93
0.02
-2.38
0.31
Pramerica Life
89.83
0.31
1.28
0.13
214.86
1.34
96.14
0.98
Edelweiss Tokio Life
13.22
0.13
-4.61
0.19
24.49
0.08
-17.41
0.10
Exide Life*
-100.00
0.00
-100.00
0.00
-100.00
0.00
-100.00
0.00
Aviva Life
48.58
0.11
28.53
0.11
258.26
0.33
261.69
0.67
Aegon Life
1783.5
0.02
715.21
0.08
2229.79
0.14
1270.91
0.15
CreditAccess Life
0.02
0.00
0.19
0.03
Go Digit
0.06
0.00
0.32
2.16
Acko Life Insurance
0.00
0.00
0.00
0.00
0.00
0.06
0.00
0.01
Private Sector Total
15.16
41.53
9.99
31.27
30.87
84.35
36.74
80.69
76906.05 Crores
4322233 Policies
153187219 Lives
4055894 Crores
Industry Total
-10.49
100.00
2.5
100.00
37.03
100.00
41.4
100.00
185195.81 Crores
13820711 Policies
181607897 Lives
5026644 Crores
Source category: IRDAI
Attachments
- /2023/302_First_year_premium_of_Life_Insurers_as_at_31_10_2023.pdf
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