IRDAI has uploaded the Industry statistics on the First year Premium for Life Insurers for the Period ended 31st March 2024
Summary of the details are as under:
New Business Statement of Life Insurers for the Period ended 31st March 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
-4.04
58.87
-0.17
69.91
13.09
13.50
33.44
18.66
Public sector total
222522.9934 Crores
20430305 Policies
41417962 Lives
1651322.98 Crores
SBI Life
29.24
10.12
2.91
7.74
93.49
11.63
24.87
9.30
HDFC Life
3.85
7.93
17.43
3.99
-3.63
21.14
27.49
15.16
ICICI Prudential Life
6.85
4.78
2.94
2.13
11.92
17.48
-1.85
11.55
Bajaj Allianz Life
7.04
3.04
21.77
2.56
-24.08
6.83
7.32
6.37
Max Life
23.00
2.92
20.05
2.45
74.89
2.38
59.06
5.63
Tata AIA Life
4.19
2.35
18.64
2.65
47.13
0.73
31.10
9.93
Aditya Birla Sun Life
5.57
2.14
16.90
0.98
-0.18
1.80
3.95
4.10
Kotak Mahindra Life
12.89
2.29
-0.39
1.19
-3.66
7.53
-7.62
3.59
Canara HSBC Life
-22.95
0.75
-1.05
0.63
45.63
2.83
28.15
2.49
PNB Met Life
5.93
0.90
-1.10
0.97
-36.59
0.55
-39.91
1.69
Star Union Dai-ichi Life
6.37
0.88
-2.93
0.65
-47.51
1.18
-15.22
1.80
India First Life
9.49
0.79
-20.54
0.85
68.15
4.72
87.52
3.33
Shriram Life
61.60
0.50
53.98
1.53
112.82
3.52
45.34
1.16
Reliance Nippon Life
9.32
0.33
21.49
0.62
-13.83
0.09
2.98
0.30
Bharti Axa Life
-23.20
0.21
-15.35
0.30
26.54
0.20
-35.78
0.17
Ageas Federal Life
31.73
0.32
22.76
0.20
2232.75
0.58
38.53
0.26
Future Generali Life
-12.83
0.16
-14.57
0.12
-25.21
0.03
-1.76
0.34
Pramerica Life
58.44
0.29
12.56
0.13
103.90
1.53
52.94
1.06
Edelweiss Tokio Life
6.34
0.15
3.12
0.20
-11.63
0.08
-7.30
0.12
Exide Life*
-100.00
0.00
-100.00
0.00
-100.00
0.00
-100.00
0.00
Aviva Life
7.25
0.10
1.02
0.10
31.04
31.04
131.26
0.74
Acko Life Insurance
0.01
0.00
0.14
0.03
Aegon Life
927.21
0.03
751.49
0.09
147.28
0.13
574.49
0.16
CreditAccess Life
0.03
0.00
0.33
0.07
Go Digit
0.11
0.00
0.75
1.99
Private Sector Total
12.11
41.13
9.19
30.09
15.22
86.50
19.11
81.34
155437.343 Crores
8792231 Policies
265334933.398 Lives
7197282.9135 Crores
Industry Total
2.00
100.00
2.47
100.00
14.93
100.00
21.55
100.00
377960.336 Crores
29222536 Policies
306752895.398 Lives
8848605.900 Crores
Source category: IRDAI
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