IRDAI has uploaded the industry statistics on the First year Premium for Life Insurers for the Period ending December 31, 2024.
Summary of the details are as under:
| Insurer | Premium Growth over prev year in % | Premium Market Share % | No. of Policies / Schemes Growth over prev year in % | No. of Policies / Schemes Market Share % | No. of lives covered under Group Schemes Growth over prev year in % | No. of lives covered under Group Schemes Market Share % | Sum Assured Growth over prev year in % | Sum Assured Market Share % |
|---|---|---|---|---|---|---|---|---|
| LIC of India | 7.16 | 57.42 | -6.73 | 64.53 | 3.35 | 17.99 | 18.34 | 18.57 |
| Public sector total | Premium: 157955.95 Crores | Policies: 11735012.00 Policies | Lives: 34729996 Lives | Sum Assured: 1386426.54 Crores | |||||||
| SBI Life | 0.98 | 9.54 | -3.33 | 8.73 | -30.30 | 8.72 | 15.14 | 8.59 |
| HDFC Life | 11.40 | 8.24 | 14.64 | 4.82 | -26.86 | 18.48 | -0.07 | 13.25 |
| ICICI Prudential Life | 31.33 | 5.50 | 14.43 | 2.52 | -15.18 | 16.17 | 19.06 | 11.53 |
| Bajaj Allianz Life | 12.80 | 3.09 | 13.04 | 3.06 | -13.32 | 6.23 | 20.88 | 6.58 |
| Max Life | 16.11 | 2.94 | 17.82 | 2.98 | -23.26 | 2.06 | 13.40 | 5.33 |
| Tata AIA Life | 19.48 | 2.52 | 28.82 | 3.59 | 16.92 | 1.02 | 21.03 | 9.96 |
| Aditya Birla Sun Life | 33.60 | 2.56 | 27.94 | 1.35 | -5.65 | 1.81 | 53.72 | 4.44 |
| Kotak Mahindra Life | 6.46 | 1.97 | -3.22 | 1.03 | -19.80 | 6.76 | -9.62 | 2.71 |
| Canara HSBC Life | 13.59 | 0.83 | 10.21 | 0.78 | -19.52 | 3.45 | -12.76 | 2.30 |
| PNB Met Life | 48.20 | 1.20 | 11.81 | 1.21 | -29.11 | 0.42 | 8.45 | 1.34 |
| Star Union Dai-ichi Life | 27.66 | 1.04 | -11.96 | 0.66 | -37.72 | 0.99 | -49.34 | 0.87 |
| India First Life | -17.33 | 0.73 | -32.60 | 0.75 | -5.69 | 6.10 | 11.95 | 3.84 |
| Shriram Life | 23.39 | 0.57 | 43.96 | 2.14 | -16.95 | 3.57 | 97.12 | 1.96 |
| Reliance Nippon Life | -1.11 | 0.30 | -9.10 | 0.63 | 6.96 | 0.12 | 8.25 | 0.30 |
| Bharti Axa Life | -10.09 | 0.18 | -16.70 | 0.29 | -37.67 | 0.13 | -26.79 | 0.11 |
| Ageas Federal Life | 27.03 | 0.35 | 16.84 | 0.25 | 47.97 | 0.82 | 27.31 | 0.26 |
| Future Generali Life | 11.02 | 0.12 | 1.62 | 0.13 | 24.99 | 0.03 | 19.44 | 0.32 |
| Pramerica Life | 12.93 | 0.31 | 30.77 | 0.18 | -4.08 | 1.59 | 23.85 | 0.99 |
| Bandhan Life** | 71.52 | 0.04 | 32.64 | 0.11 | -53.94 | 0.07 | 8.90 | 0.15 |
| Edelweiss Tokio Life | 2.14 | 0.12 | -12.41 | 0.17 | -66.82 | 0.03 | -24.75 | 0.07 |
| Aviva Life | -22.67 | 0.07 | -44.89 | 0.06 | -32.14 | 0.26 | 10.80 | 0.64 |
| Acko Life Insurance | 155.18 | 0.02 | 16175.00 | 0.01 | 113.41 | 0.26 | 260.64 | 0.07 |
| Credit Access Life | 127.07 | 0.04 | 323.46 | 0.00 | 113.23 | 0.53 | 324.42 | 0.15 |
| Go Digit | 257.85 | 0.28 | 732.19 | 0.02 | 298.01 | 2.37 | 214.91 | 5.68 |
| Private Sector Total | 13.87 | 42.58 | 8.69 | 35.47 | -17.46 | 82.01 | 17.96 | 81.43 |
| Premium: 117130.96 Crores | Policies: 6449173 Policies | Lives: 158316169 Lives | Sum Assured: 6079746 Crores | ||||||||
| Industry Total | 9.92 | 100.00 | -1.79 | 100.00 | -14.36 | 100.00 | 18.03 | 100.00 |
| Premium: 275086.92 Crores | Policies: 18184185 Policies | Lives: 18184185 Lives | Sum Assured: 7466172 Crores | ||||||||
**Aegon life Insurance Company limited has been changed to Bandhan Life Insurance Limited with effect from 05.04.2024
Source category: IRDAI
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