IRDAI has uploaded the Industry statistics on the First year Premium for Life Insurers for the Period ended 30th June 2024
Summary of the details are as under:
New Business Statement of Life Insurers for the Period ended 30th June 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
28.11
64.02
10.85
66.54
0.13
10.21
82.53
12.34
Public sector total
57440.900 Crores
3572050 Policies
6921031 Lives
295323.09 Crores
SBI Life
13.33
7.84
1.65
7.93
-7.59
5.47
-3.14
5.58
HDFC Life
9.19
7.29
22.37
4.72
-15.60
20.13
0.76
14.06
ICICI Prudential Life
23.51
4.20
15.09
2.47
12.13
15.63
13.38
11.38
Bajaj Allianz Life
17.78
2.83
8.12
2.90
-2.82
6.78
-28.32
6.20
Max Life
11.87
2.31
27.62
2.84
-9.77
2.07
23.31
5.32
Tata AIA Life
11.76
2.02
22.99
3.12
-42.27
0.60
0.08
8.46
Aditya Birla Sun Life
38.69
2.57
26.31
1.30
10.95
2.00
28.07
4.20
Kotak Mahindra Life
7.05
1.70
-7.13
0.85
-24.44
6.94
-42.39
2.46
Canara HSBC Life
17.15
0.80
80.29
0.89
29.75
9.38
35.06
5.86
PNB Met Life
31.77
0.91
1.94
1.11
-31.43
0.46
-26.67
1.19
Star Union Dai-ichi Life
-14.52
0.64
8.43
0.63
-30.57
0.44
-53.08
0.64
India First Life
-6.82
0.76
-50.82
0.51
11.58
12.11
29.44
8.16
Shriram Life
-17.88
0.45
126.29
2.38
-66.37
2.05
100.79
2.22
Reliance Nippon Life
-2.44
0.29
-5.78
0.70
-29.01
0.04
-30.31
0.16
Bharti Axa Life
-25.99
0.14
-25.45
0.28
-28.80
0.13
-61.50
0.08
Ageas Federal Life
64.10
0.30
34.77
0.24
328.57
0.72
54.25
0.24
Future Generali Life
18.15
0.10
-8.92
0.10
9.34
0.03
1.02
0.28
Pramerica Life
18.49
0.29
44.99
0.18
13.99
1.66
26.18
1.18
Bandhan Life**
162.35
0.04
-5.54
0.06
-39.75
0.08
33.25
0.13
Edelweiss Tokio Life
22.09
0.10
-3.87
0.16
-55.12
0.04
-30.25
0.06
Exide Life*
Aviva Life
-15.45
0.08
-51.11
0.06
-22.63
0.40
68.07
0.92
Acko Life Insurance
0.02
0.01
0.27
0.07
CreditAccess Life
1023.68
0.02
1020.00
0.00
987.70
0.44
1120.47
0.06
Go Digit
1238656.89
0.28
32700.00
0.01
21471150.00
1.90
3476547.45
8.74
Private Sector Total
14.62
35.98
14.02
33.46
-3.63
89.79
15.35
87.66
32285.80 Crores
1796199 Policies
60884002 Lives
2098301.80 Crores
Industry Total
22.91
100.00
11.89
100.00
-3.26
100.00
20.84
100.00
89726.70 Crores
5368249 Policies
67805033 Lives
2393625 Crores
**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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