New Business Statement of Life Insurers for the Period ended 30th April 2024

IRDAI has uploaded the Industry statistics on the First year Premium for Life Insurers for the Period ended 30th April 2024 Summary of the details are as under: New Business Statement of Life Insurers for the Period ended 30th April 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 113.14 61.13 9.12 64.83 33.90 12.72 122.41 16.90 Public sector total 12383.6371 Crores 856279 Policies 2213639 Lives 115056.124 Crores SBI Life 26.30 8.33 0.96 8.72 -2.48 8.83 -12.65 5.95 HDFC Life 4.31 7.78 38.83 5.32 -9.37 24.97 15.08 13.04 ICICI Prudential Life 28.13 4.64 7.36 2.49 -2.94 15.65 16.82 14.42 Bajaj Allianz Life 25.20 3.40 7.38 2.87 -20.88 7.81 -53.68 6.57 Max Life 40.89 2.50 24.77 2.61 40.21 2.58 48.30 6.22 Tata AIA Life 22.33 2.37 3.49 3.21 -18.28 0.61 20.58 8.30 Aditya Birla Sun Life 10.31 1.98 -11.26 1.07 -28.56 1.67 -32.05 3.33 Kotak Mahindra Life -6.68 1.95 6.50 0.95 -36.89 8.37 -53.31 2.58 Canara HSBC Life 45.14 0.56 282.12 1.41 70.89 0.67 116.50 0.81 PNB Met Life 65.94 1.62 0.56 1.15 -33.28 0.61 -55.05 0.98 Star Union Dai-ichi Life -21.49 0.46 56.77 0.56 -29.23 0.71 -70.67 0.92 India First Life 1.61 0.74 -54.85 0.51 106.42 6.28 305.78 6.77 Shriram Life -59.30 0.44 215.76 2.51 -83.40 2.19 -6.08 1.43 Reliance Nippon Life -19.09 0.45 -33.70 0.80 12.09 0.01 -30.26 0.16 Bharti Axa Life -48.36 0.14 -45.48 0.26 -57.56 0.08 -78.39 0.05 Ageas Federal Life 73.72 0.33 45.51 0.21 1042.77 0.92 70.88 0.25 Future Generali Life 135.44 0.10 -5.84 0.08 -28.34 0.03 18.67 0.44 Pramerica Life 21.82 0.42 26.04 0.16 8.87 1.85 41.75 1.47 Bandhan Life** 332.56 0.07 -17.75 0.07 -36.22 0.13 60.22 0.16 Edelweiss Tokio Life 30.72 0.09 -4.22 0.13 -71.44 0.02 -34.00 0.05 Exide Life* Aviva Life -8.66 0.11 -39.18 0.06 15.84 0.61 109.84 1.38 Acko Life Insurance 0.04 0.01 0.46 0.10 CreditAccess Life 0.03 0.00 0.42 0.06 Go Digit 0.34 0.01 1.80 7.64 Private Sector Total 16.58 38.87 13.77 35.17 -14.58 87.28 6.59 83.10 7875.2231 Crores 464591 Policies 15186009 Lives 565781.1281 Crores Industry Total 61.23 100.00 10.71 100.00 -10.45 100.00 16.88 100.00 20258.860 Crores 1320870 Policies 17399648 Lives 680837.2522 Crores **Aegon life Insurance Company limited has been changed to Bandhan Life Insurance Limited with effect from 05.04.2024

Source category: IRDAI