New Business Statement of Life Insurers for the Period ended 29th February 2024

Dear Sir/Madam, IRDAI has uploaded the Industry statistics on the First year Premium for Life Insurers for the Period ended 29th February 2024 Summary of the details are as under: New Business Statement of Life Insurers for the Period ended 29th February 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 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 -8.35 58.61 -0.48 68.60 44.10 14.18 49.22 18.42 Public sector total 186222.374 Crores 16329346 Policies 38700641 Lives 1442472.84 Crores SBI Life 29.84 10.66 5.08 8.42 96.47 11.06 25.95 9.00 HDFC Life 9.86 7.98 18.59 4.10 2.07 21.42 36.58 15.35 ICICI Prudential Life 5.68 4.68 3.39 2.20 11.87 16.74 -2.15 11.64 Bajaj Allianz Life 5.28 3.00 19.78 2.62 -24.05 6.73 7.23 6.50 Max Life 28.79 2.83 25.63 2.54 82.81 2.37 75.72 5.62 Tata AIA Life 11.06 2.30 17.53 2.69 53.80 0.73 36.41 9.64 Aditya Birla Sun Life 3.85 2.11 18.88 1.01 -5.79 1.74 -0.89 4.03 Kotak Mahindra Life 12.26 2.18 -1.34 1.11 -3.47 7.49 -5.72 3.56 Canara HSBC Life -24.50 0.77 3.13 0.67 45.02 3.11 28.37 2.66 PNB Met Life 6.15 0.90 -0.98 1.03 -37.72 0.56 -43.43 1.68 Star Union Dai-ichi Life 6.90 0.95 -2.62 0.71 -43.53 1.26 -9.85 1.92 India First Life 15.40 0.87 -16.36 0.97 84.44 5.08 106.44 3.60 Shriram Life 65.40 0.49 48.81 1.52 125.71 3.61 48.22 1.15 Reliance Nippon Life 6.91 0.32 15.63 0.65 -15.45 0.10 3.16 0.30 Bharti Axa Life -21.09 0.21 -14.31 0.32 24.25 0.18 -33.32 0.17 Ageas Federal Life 32.12 0.32 23.00 0.21 4591.99 0.56 38.34 0.25 Future Generali Life -18.65 0.14 -15.15 0.12 -29.66 0.03 -11.58 0.32 Pramerica Life 64.78 0.30 9.69 0.14 121.19 1.50 64.15 1.07 Edelweiss Tokio Life 13.02 0.14 3.60 0.20 -6.23 0.08 -0.40 0.11 Exide Life* -100.00 0.00 -100.00 0.00 -100.00 0.00 -100.00 0.00 Aviva Life 19.95 0.10 3.55 0.10 63.34 0.31 143.48 0.68 Acko Life Insurance 0.01 0.00 0.13 0.03 Aegon Life 1446.52 0.03 787.22 0.08 561.79 0.13 959.53 0.16 CreditAccess Life 0.02 0.00 0.27 0.05 Go Digit 0.11 0.00 0.62 2.08 Private Sector Total 14.09 41.39 9.82 31.40 17.90 85.82 21.84 81.58 131524.34 Crores 7474751 Policies 234149391.39 Lives 6388150.062 Crores Industry Total -0.22 100.00 2.54 100.00 21.02 100.00 26.10 100.00 317746.71 Crores 23804097 Policies 272850032.39 Lives 7830622.911 Crores

Source category: IRDAI