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 May 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 -27.91 55.12 -11.24 67.18 36.77 10.94 -11.56 8.48 Public sector total INR. 19866.38 Crores 1917459 Policies 4143852 Lives INR. 101586.47 Crores SBI Life 35.68 10.41 3.04 9.02 68.50 5.73 21.64 6.39 HDFC Life 17.68 9.72 21.85 4.33 35.18 26.81 86.96 16.41 ICICI Prudential Life -17.92 4.79 -8.15 2.40 21.12 15.45 8.76 13.79 Bajaj Allianz Life -23.40 3.52 11.50 3.00 -8.07 8.45 56.63 14.40 Max Life 8.81 2.51 4.85 2.39 155.23 2.79 97.65 6.14 Tata AIA Life 23.72 2.70 8.20 2.97 131.23 1.31 70.02 12.23 Aditya Birla Sun Life -5.37 2.47 34.37 1.18 59.42 2.29 77.34 5.30 Kotak Mahindra Life 30.75 2.54 -18.62 0.93 36.13 11.08 111.72 5.66 Canara HSBC Life 22.26 0.75 -11.94 0.45 -8.21 0.30 -4.64 0.41 PNB Met Life 28.20 1.07 -0.29 1.20 -19.62 0.85 -8.38 2.18 Star Union Dai-ichi Life -31.87 0.78 5.94 0.58 -46.48 0.94 9.64 2.26 India First Life -3.75 0.81 -0.71 1.20 -11.25 2.22 -20.64 1.56 Shriram Life 177.58 0.96 -18.65 1.03 368.44 7.74 123.85 1.47 Reliance Nippon Life 4.07 0.50 7.65 0.91 -3.28 0.08 32.83 0.33 Bharti Axa Life -6.67 0.29 9.29 0.45 130.97 0.20 29.41 0.28 Ageas Federal Life 20.98 0.25 34.92 0.18 1328.73 0.12 43.76 0.18 Future Generali Life -64.76 0.13 -12.63 0.12 -56.63 0.03 17.81 0.36 Pramerica Life 137.39 0.39 -4.51 0.13 811.82 1.65 55.86 1.08 Edelweiss Tokio Life -13.48 0.10 -35.28 0.18 385.17 0.09 -41.71 0.10 Exide Life* -100.00 0.00 -100.00 0.00 -100.00 0.00 -100.00 0.00 Aviva Life 65.85 0.17 78.79 0.12 353.49 0.80 127.88 0.86 Aegon Life 1450.01 0.02 639.16 0.07 1888.67 0.13 664.84 0.12 Private Sector Total 8.84 44.88 2.92 32.82 38.23 89.06 45.43 91.52 INR. 16176.72 Crores 936938 Policies 33742290 lives INR. 1095905 Crores Industry Total -15.03 100.00 -7.05 100.00 38.07 100.00 37.89 100.00 INR. 36043.11 Crores 2854397 Policies 37886142 lives INR. 1197491.48 Crores
Source category: IRDAI
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