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 July 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 -22.11 59.70 -9.49 68.55 76.42 14.87 52.40 18.27 Public sector total 60223.77 Crores 4882678 policies 14872995 lives 549674.55 Crores SBI Life 29.79 10.18 4.15 8.42 130.16 5.58 49.95 6.42 HDFC Life 18.07 7.94 24.48 4.07 27.30 21.62 90.40 14.95 ICICI Prudential Life 3.58 4.65 -1.35 2.30 13.41 13.44 2.24 10.76 Bajaj Allianz Life -23.89 2.88 23.15 2.83 -25.96 6.25 30.07 8.01 Max Life 24.77 2.56 9.24 2.34 89.72 2.17 88.63 4.79 Tata AIA Life 25.29 2.24 12.63 2.75 112.56 0.84 41.26 8.43 Aditya Birla Sun Life 17.96 2.11 23.54 1.05 20.33 1.56 27.10 3.40 Kotak Mahindra Life 16.08 1.96 -10.48 1.02 20.15 8.18 44.31 4.32 Canara HSBC Life 8.13 0.84 -6.50 0.57 61.50 6.70 59.02 4.75 PNB Met Life 16.57 0.84 7.55 1.13 -40.48 0.61 -24.45 1.77 Star Union Dai-ichi Life 4.32 0.97 5.74 0.66 57.92 1.74 91.84 2.45 India First Life 39.94 0.99 -0.31 1.17 345.22 8.52 352.06 6.01 Shriram Life 118.20 0.61 2.44 1.14 261.14 5.27 98.62 1.15 Reliance Nippon Life 8.78 0.35 14.20 0.79 -16.34 0.05 27.52 0.23 Bharti Axa Life -15.74 0.22 -4.83 0.37 62.95 0.18 -5.33 0.20 Ageas Federal Life 15.64 0.25 17.57 0.20 2025.91 0.17 33.07 0.18 Future Generali Life -44.65 0.10 -11.32 0.13 -51.06 0.02 2.20 0.32 Pramerica Life 114.68 0.30 -5.02 0.13 538.43 1.37 131.35 1.00 Edelweiss Tokio Life -8.30 0.10 -14.06 0.19 230.79 0.09 -27.52 0.09 Exide Life* -100.00 0.00 -100.00 0.00 -100.00 0.00 -100.00 0.00 Aviva Life 51.78 0.12 56.19 0.12 286.17 0.39 169.94 0.58 Aegon Life 2074.11 0.02 620.31 0.07 2833.58 0.14 1034.57 0.12 Credit Access Life 0.01 0.00 0.08 0.01 Go Digit 0.05 0.00 0.16 1.80 Acko Life Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Private Sector Total 14.71 40.30 6.79 31.45 42.80 85.13 51.03 81.73 40648.20 Crores 2240603 policies 85130776 lives 2458534.09 Crores Industry Total -10.54 100.00 -4.93 100.00 46.96 100.00 51.28 100.00 100871.97 Crores 7123281 policies 100003771 lives 3008209 Crores
Source category: IRDAI
Attachments
- /2023/242_First_year_premium_of_Life_Insurers_as_at_31_07_2023.pdf
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