New Business Statement of Life Insurers for the Period ended 31st January 2024

IRDAI has uploaded the Industry statistics on the First year Premium for Life Insurers for the Financial Year 2024-25 Summary of the details are as under: New Business Statement of Life Insurers for the Period ended 31st January 2024 (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 -13.06 58.60 -1.23 68.57 42.16 14.55 64.85 18.92 Public sector total 166326.36 Crores 14610786 Policies 36274148 Lives 1348184.73 Crores SBI Life 29.63 11.00 4.70 8.60 122.92 11.10 33.98 8.92 HDFC Life 9.36 8.01 18.25 4.06 4.98 21.47 42.96 15.30 ICICI Prudential Life 2.87 4.61 -0.24 2.13 11.23 16.56 -0.39 11.65 Bajaj Allianz Life 4.41 2.99 20.19 2.62 -27.06 6.38 4.94 6.42 Max Life 26.20 2.78 25.71 2.53 90.17 2.33 78.91 5.54 Tata AIA Life 13.43 2.31 17.12 2.72 65.32 0.74 40.07 9.62 Aditya Birla Sun Life -0.83 2.16 17.83 1.01 -10.73 1.65 -5.59 3.63 Kotak Mahindra Life 6.00 2.05 -4.88 1.05 -1.73 7.41 -5.88 3.53 Canara HSBC Life -24.24 0.79 6.18 0.67 46.57 3.34 46.15 2.83 PNB Met Life 4.55 0.89 -2.31 1.02 -41.63 0.53 -46.85 1.58 Star Union Dai-ichi Life -3.10 0.87 -2.32 0.70 -43.38 1.30 -10.91 1.90 India First Life 20.25 0.92 -11.51 1.03 95.71 5.28 121.08 3.76 Shriram Life 66.81 0.50 41.96 1.48 134.55 3.66 56.40 1.15 Reliance Nippon Life 7.90 0.32 15.69 0.66 -24.84 0.09 4.63 0.31 Bharti Axa Life -18.85 0.21 -11.87 0.32 25.95 0.18 -30.91 0.17 Ageas Federal Life 22.89 0.30 17.93 0.20 4869.80 0.52 34.16 0.24 Future Generali Life -33.55 0.12 -16.25 0.12 -40.21 0.02 -8.66 0.32 Pramerica Life 74.29 0.30 6.76 0.13 157.17 1.46 73.79 1.01 Edelweiss Tokio Life 11.77 0.13 5.91 0.18 -5.97 0.08 -1.30 0.11 Exide Life* -100.00 0.00 -100.00 0.00 -100.00 0.00 -100.00 0.00 Aviva Life 24.38 0.10 6.71 0.10 106.25 0.32 150.98 0.67 Acko Life Insurance 0.01 0.00 0.11 0.02 Aegon Life 1599.94 0.03 935.34 0.08 924.34 0.13 1155.66 0.16 CreditAccess Life 0.02 0.00 0.23 0.05 Go Digit 0.10 0.00 0.57 2.18 Private Sector Total 12.65 41.40 9.14 31.43 20.28 85.45 24.67 81.08 117507.15 Crores 6697492 Policies 213065087.39 Lives 5777364.93 Crores Industry Total -3.99 100.00 1.81 100.00 23.03 100.00 28.64 100.00 283833.51 Crores 21308278 Policies 249339235.39 Lives 7125549.66 Crores

Source category: IRDAI

Attachments

• /2024/348_First_year_premium_of_Life_Insurers_as_at_31_01_2024__pdf.pdf