IRDAI has uploaded the industry statistics on the First year Premium for Life Insurers for the Period ending October 31, 2024
Summary of the details are as under:
New Business Statement of Life Insurers for the Period ended 31st October 2024
(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 % | Market Share % | Growth over prev year % | Market Share % | Growth over prev year % | Market Share % | Growth over prev year % | Market Share % | |
| LIC of India | 27.52 | 60.43 | 2.76 | 66.99 | 5.50 | 19.30 | 21.05 | 19.78 |
| SBI Life | -3.36 | 8.37 | -0.84 | 7.88 | -41.36 | 7.51 | 6.04 | 7.29 |
| HDFC Life | 14.11 | 7.97 | 19.22 | 4.61 | -23.76 | 18.64 | 8.49 | 13.07 |
| ICICI Prudential Life | 18.58 | 4.72 | 10.89 | 2.37 | -9.39 | 15.84 | 15.74 | 11.08 |
| Bajaj Allianz Life | 16.29 | 3.09 | 19.32 | 2.99 | -9.43 | 6.19 | 10.20 | 6.31 |
| Max Life | 18.49 | 2.70 | 18.14 | 2.79 | -19.70 | 2.04 | 13.58 | 5.20 |
| Tata AIA Life | 21.26 | 2.33 | 26.72 | 3.12 | 8.52 | 0.92 | 19.85 | 9.48 |
| Aditya Birla Sun Life | 41.16 | 2.57 | 33.19 | 1.27 | 3.40 | 1.85 | 78.78 | 4.74 |
| Kotak Mahindra Life | 11.51 | 1.91 | -3.44 | 0.94 | -23.52 | 6.92 | -24.08 | 2.51 |
| Canara HSBC Life | -0.31 | 0.73 | 11.82 | 0.71 | -22.09 | 4.01 | -15.91 | 2.59 |
| PNB Met Life | 46.39 | 1.08 | 12.48 | 1.14 | -31.14 | 0.41 | -3.84 | 1.24 |
| Industry Total | 18.56 | 100.00 | 5.42 | 100.00 | -14.47 | 100.00 | 18.17 | 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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