IRDAI has uploaded the industry statistics on the First year Premium for Life Insurers for the Period ending November 30, 2024
Summary of the details are as under:
New Business Statement of Life Insurers for the Period ended November 30, 2024
(Premium & Sum Assured in Rs. Crore)
| Insurer | Premium Growth % | Premium Market Share % | No. of Policies Growth % | No. of Policies Market Share % | Lives Covered Growth % | Lives Covered Market Share % | Sum Assured Growth % | Sum Assured Market Share % |
|---|---|---|---|---|---|---|---|---|
| LIC of India | 16.08 | 58.98 | -2.84 | 65.84 | 6.62 | 18.52 | 21.53 | 19.31 |
| SBI Life | -2.08 | 8.55 | -1.48 | 8.18 | -36.40 | 7.88 | 12.05 | 7.83 |
| HDFC Life | 13.98 | 8.15 | 16.60 | 4.74 | -25.51 | 18.59 | 0.65 | 13.15 |
| ICICI Prudential Life | 35.43 | 5.55 | 11.65 | 2.44 | -12.39 | 15.90 | 16.32 | 11.32 |
| Bajaj Allianz Life | 13.26 | 3.04 | 12.29 | 2.99 | -10.63 | 6.20 | 17.53 | 6.54 |
| Max Life | 18.81 | 2.79 | 20.77 | 2.95 | -20.23 | 2.05 | 15.60 | 5.28 |
| Tata AIA Life | 20.05 | 2.36 | 27.15 | 3.23 | 3.23 | 1.03 | 20.29 | 9.46 |
| Aditya Birla Sun Life | 37.60 | 2.52 | 31.44 | 1.32 | -2.66 | 1.79 | 59.40 | 4.48 |
| Kotak Mahindra Life | 7.77 | 1.90 | -4.72 | 0.97 | -21.33 | 6.92 | -14.45 | 2.69 |
| Canara HSBC Life | 19.48 | 0.87 | 20.44 | 0.82 | -22.49 | 3.67 | -13.64 | 2.45 |
| PNB Met Life | 50.90 | 1.15 | 14.75 | 1.20 | -28.34 | 0.43 | 5.08 | 1.33 |
| India First Life | -19.85 | 0.74 | -36.40 | 0.73 | -4.08 | 6.60 | 8.10 | 4.11 |
| Reliance Nippon Life | 1.72 | 0.29 | -7.70 | 0.64 | 9.65 | 0.12 | 10.94 | 0.31 |
| Bharti Axa Life | -12.59 | 0.17 | -16.70 | 0.28 | -35.89 | 0.13 | -32.34 | 0.11 |
| Private Sector Total | 15.09 | 41.02 | 10.07 | 34.16 | -17.31 | 81.48 | 17.32 | 80.69 |
| Industry Total | 15.67 | 100.00 | 1.21 | 100.00 | -13.72 | 100.00 | 18.11 | 100.00 |
**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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