Top 10 Insurance Companies In India 2023

Insurance Companies In India

We are not saying that Transformers don’t exist, but if they did, what kind of insurance would they need? They would need life insurance, as well as car insurance. However, it may not be that important for them to get insurance, but for you, getting insurance is vital. As you may be aware, there are different types of insurance available such as life insurance, car insurance, health insurance, term insurance, and many more. 

In this article, we will talk about the top 10 insurance companies in India. 

  1. Acko General Insurance 

Founded in November 2016, Acko General Insurance is a private sector general insurance company in India. It received its license from the Insurance Regulatory and Development Authority of India (IRDAI) in September 2017. 

The products offered by Acko General Insurance are motor insurance, mobile insurance, and in-trip domestic insurance. 

  1. Aditya Birla Health Insurance 

Founded in 2015, Aditya Birla Health Insurance Co. Limited (ABHICL) is a subsidiary of Aditya Birla Capital Ltd. (ABCL) and is a joint venture between Aditya Birla Group and MMI Holdings of South Africa. ABHICL offers its clients health insurance.  

  1. Agriculture Insurance Company of India 

Founded on 20 December 2022, with an authorized capital of Rs. 1,500 crore, Agriculture Insurance Company of India Ltd. (AIC) is a nationalised insurance company, owned by the Ministry of Finance, Government of India. AIC offers yield-based and weather-based crop insurance programs in over 500 districts in India. It is the largest crop insurer worldwide, due to its coverage of approximately 20 million farmers. 

  1. Bajaj Finserv

Founded in May 2007 in Pune, Bajaj Finserv is an Indian non-banking financial services company, which focuses on lending, wealth management, asset management, and insurance. 

It has two subsidiaries, Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance. 

  1. Bharti AXA General Insurance 

Bharti AXA General Insurance Company Ltd. is a joint venture between AXA and Bharti Enterprises. They offer motor and two-wheeler insurance, property and student, individual and family travel, health and critical illness, and crop insurance. 

  1. DHFL General Insurance 

Founded in April 1984 in Mumbai, Piramal Capital and Housing Finance Ltd. (previously known as Dewan Housing Finance Corporation Ltd. (DHFL)) is a non-deposit-taking housing finance company. It was established to provide housing finance to the lower and middle-income groups in semi-urban and rural parts of India. 

  1. ICICI Lombard 

Established in 2001, ICICI Lombard General Insurance Company is a joint venture between ICICI Bank and Fairfax Financial Holdings Ltd. It is a general insurance company that provides its customers with insurance claims management, investment management, reinsurance, and general insurance. 

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  1. Max Bupa Health Insurance 

Niva Bupa Health Insurance Company Ltd. (Previously named Max Bupa Health Insurance) is a joint venture between Max India Limited and Bupa. It was established in 2008 and provides its customers with health insurance. 

  1. National Insurance Company 

Nationalised in 1972, National Insurance Company Ltd. (NICL) is a nationalised general insurance company, owned by the Ministry of Finance, Government of India. It offers multiple general insurance policies, not only in India but also in Nepal. 

  1. Life Insurance Corporation of India

Established on 1 September 1956, Life Insurance Corporation of India (LIC) is an insurance and investment corporation that provides a wide range of policies to its customers.

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