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 30th September 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 -25.40 58.50 -3.56 68.66 106.04 16.43 65.07 18.91 Public sector total 92642.61 Crores 8076638 policies 26354148 lives 840995.05 Crores SBI Life 24.23 10.27 5.93 8.37 183.82 11.07 48.13 8.21 HDFC Life 19.15 8.31 26.47 4.05 17.13 20.38 63.26 14.62 ICICI Prudential Life 0.70 4.68 0.31 2.27 15.36 14.01 2.37 11.05 Bajaj Allianz Life -3.43 3.14 22.98 2.69 -28.93 5.72 18.38 6.84 Max Life 26.56 2.70 21.37 2.48 78.94 2.11 92.70 5.28 Tata AIA Life 19.88 2.29 12.22 2.63 102.69 0.70 56.11 9.00 Aditya Birla Sun Life -3.50 2.08 18.58 1.01 -12.29 1.52 8.60 3.18 Kotak Mahindra Life 11.47 2.03 -5.82 1.02 19.20 7.71 32.49 4.04 Canara HSBC Life 13.73 0.88 2.65 0.67 44.00 4.77 44.80 3.89 PNB Met Life 6.87 0.87 1.45 1.09 -45.02 0.49 -41.53 1.49 Star Union Dai-ichi Life -10.42 0.92 2.41 2.41 9.83 1.65 49.19 2.34 India First Life 47.82 1.17 2.76 1.18 193.65 6.78 248.11 5.22 Shriram Life 85.54 0.54 8.89 1.22 186.91 3.87 66.68 1.10 Reliance Nippon Life 8.62 0.34 17.04 0.73 -9.06 0.05 28.97 0.26 Bharti Axa Life -12.37 0.24 -4.35 0.36 19.73 0.16 -15.68 0.19 Ageas Federal Life 32.90 0.30 23.67 0.21 3198.58 0.27 34.26 0.21 Future Generali Life -44.46 0.11 -15.27 0.12 -32.61 0.02 2.88 0.31 Pramerica Life 91.09 0.30 -3.39 0.13 271.90 1.30 128.34 0.96 Edelweiss Tokio Life 11.20 0.14 -7.55 0.19 53.93 0.08 -20.21 0.10 Exide Life* -100.00 0.00 -100.00 0.00 -100.00 0.00 -100.00 0.00 Aviva Life 45.18 0.11 31.59 0.12 243.41 0.34 240.27 0.68 Acko Life Insurance 0.00 0.00 0.03 0.00 Aegon Life 1819.25 0.02 587.65 0.08 2286.43 0.14 1190.57 0.14 CreditAccess Life 0.01 0.00 0.15 0.03 Credit Access Life 0.01 0.00 0.08 0.01 Go Digit 0.06 0.00 0.25 1.94 Acko Life Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Private Sector Total 13.75 41.50 8.73 31.34 36.12 83.57 41.51 81.09 65734.18 Crores 3687363 policies 134021446 lives 3605225.37 Crores Industry Total -12.97 100.00 -0.02 100.00 44.16 100.00 45.44 100.00 158376.8 Crores 11764001 policies 160375594 lives 4446220.43 Crores
Source category: IRDAI
Attachments
- /2023/274_First_year_premium_of_Life_Insurers_as_at_30_09_2023.pdf
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