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Insurance Companies in India

Insurance Companies in India

Insurance has been one of the main methods of long-term savings of most Indians. The insurance sector caters to this need by not only providing life insurance policies but also savings and endowment schemes.

However, the reach of the industry is still low in India. Annual premiums collected is around 4-5% of India’s GDP. The industry thus has huge growth potential.

As per industry estimates, by the end of the decade, annual first year premium of life insurers is expected to grow 10 times to US$ 300 bn in FY31 from an estimated US$ 30 bn in FY22.

The key driving forces behind the industry are India’s favourable demographics, a growing middle class, rising disposable incomes, and the growing awareness for the need of life insurance.

The industry is regulated by Insurance Regulatory and Development Authority of India (IRDAI). There are around 57 insurance companies in India, most of them in the private sector. They are divided into life and non-life categories.

Among the life insurance companies, Life Insurance Corporation of India (LIC) is the only company in the public sector and is by far the largest.

Among non-life insurance companies, there are six in the public sector. There is also one national public sector re-insurer, General Insurance Corporation of India (GIC Re).

A nascent InsureTech industry is growing rapidly in India due to the start-up boom. As per S&P Global Market Intelligence, India is already the second-largest insurance technology market in the Asia-Pacific region.

The government has taken several measures to support the industry including direct capital infusions in state-run general insurance companies, raising the FDI limit in the industry to 74% and listing LIC on the stock exchanges.

The future looks bring for this economically vital industry in India.

Here’s a list of insurance companies stocks in the Indian market.

Also check out Equitymaster's powerful stock screener to find the top insurance companies in India.

Why HDFC Life Insurance Share Price is Falling
Jun 30, 2022
The stocks of private sector insurance companies including HDFC Life Insurance have corrected sharply in recent months owing to a slowdown in new business premium.

Are ULIPs a worthwhile Investment Option?
Jun 2, 2022
Unlike mutual funds, ULIPs have a complicated cost structure, which doesn't make them so promising.

All You Need to Know About the LIC IPO's Lot Size, Face Value, Price Band, and More...
Apr 27, 2022
In the grey market, shares of LIC are trading with a premium of Rs 20 at Rs 969 per share.

Short these Stocks on Rallies
Apr 20, 2022
I'm bearish on these stocks.

Top 2 Indian Companies Riding the Insurance Megatrend
Mar 8, 2022
A new law has opened up an investment opportunity in the insurance sector. Which companies make the cut?

LIC IPO is Here: 6 Things to Know Before Applying
Feb 15, 2022
LIC is set to smash all IPO records in Indian market history.

How to Evaluate the LIC IPO?
Jan 28, 2022
There is a credible alternative to buying insurance stocks.

Paytm IPO: Key Things to Know About India's Biggest IPO
Oct 30, 2021
Should you invest in Paytm's IPO given the negative cash flows and its history of losses?

Steep Rise in Claims Hurt HDFC Life's June Quarter Profit
Jul 20, 2021
HDFC Life is anticipating claims to stay elevated in the coming quarter with the threat of a third wave.

HDFC Life Insurance Reports 2% Rise in Net Profit for the Fourth Quarter
Apr 27, 2021
Key takeaways from HDFC Life Insurance Q4FY21 results.

These Insurance Stocks Are Up By More Than 10% In The Past Month. Here's Why
Jun 9, 2022
Despite the fall in LIC's stock price, these smaller players are up by more than 10%.

LIC: Let's Invest Cautiously...
May 2, 2022
The LIC IPO fever is gripping the country. There are many investors who want to participate. But will LIC create long term wealth for its shareholders?

LIC IPO Dates Announced. But is the Timing Right?
Apr 26, 2022
LIC's board is meeting today to finalise issue details such as price band, issue size, and more for its mega IPO.

All we Know About the LIC IPO so far...
Mar 9, 2022
If LIC's IPO is delayed, it would send the government's divestment revenue in this financial year to over a decade low.

LIC IPO: Will Retail Investors Dive in? Our Poll Suggests...
Feb 21, 2022
In a surprising turn of events, a poll conducted by Equitymaster suggests retail investors might stay away from LIC's hyped-IPO.

LIC IPO is Around the Corner. Here's what we Know...
Feb 4, 2022
After the Union Budget 2022, the euphoria around the LIC IPO has become crazier and wilder.

Tech Mahindra's CTC Acquisition: Too Expensive?
Jan 18, 2022
Tech Mahindra's acquisition of European IT-company fails to excite investors.

LIC IPO: All We Know So Far
Aug 23, 2021
The upcoming LIC IPO is so huge that it may be split into two parts.

The 6 Most Affected Sectors by Covid
May 29, 2021
Impact of the second covid-19 wave is taking a toll on financially important sectors.

Health Insurance Policyholders Can Now Select TPA of Their Choice
Dec 18, 2019
PersonalFN explains how IRDAI new regulation relating to TPAs will benefit policyholders.

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Insurance Companies in India

Why HDFC Life Insurance Share Price is FallingJun 30, 2022The stocks of private sector insurance companies including HDFC Life Insurance have corrected sharply in recent months owing to a slowdown in new business premium.

Are ULIPs a worthwhile Investment Option?Jun 2, 2022Unlike mutual funds, ULIPs have a complicated cost structure, which doesn't make them so promising.

All You Need to Know About the LIC IPO's Lot Size, Face Value, Price Band, and More...Apr 27, 2022In the grey market, shares of LIC are trading with a premium of Rs 20 at Rs 969 per share.

Short these Stocks on RalliesApr 20, 2022I'm bearish on these stocks.

Top 2 Indian Companies Riding the Insurance MegatrendMar 8, 2022A new law has opened up an investment opportunity in the insurance sector. Which companies make the cut?

LIC IPO is Here: 6 Things to Know Before ApplyingFeb 15, 2022LIC is set to smash all IPO records in Indian market history.

How to Evaluate the LIC IPO?Jan 28, 2022There is a credible alternative to buying insurance stocks.

Paytm IPO: Key Things to Know About India's Biggest IPOOct 30, 2021Should you invest in Paytm's IPO given the negative cash flows and its history of losses?

Steep Rise in Claims Hurt HDFC Life's June Quarter ProfitJul 20, 2021HDFC Life is anticipating claims to stay elevated in the coming quarter with the threat of a third wave.

HDFC Life Insurance Reports 2% Rise in Net Profit for the Fourth QuarterApr 27, 2021Key takeaways from HDFC Life Insurance Q4FY21 results.

These Insurance Stocks Are Up By More Than 10% In The Past Month. Here's WhyJun 9, 2022Despite the fall in LIC's stock price, these smaller players are up by more than 10%.

LIC: Let's Invest Cautiously...May 2, 2022The LIC IPO fever is gripping the country. There are many investors who want to participate. But will LIC create long term wealth for its shareholders?

LIC IPO Dates Announced. But is the Timing Right?Apr 26, 2022LIC's board is meeting today to finalise issue details such as price band, issue size, and more for its mega IPO.

All we Know About the LIC IPO so far...Mar 9, 2022If LIC's IPO is delayed, it would send the government's divestment revenue in this financial year to over a decade low.

LIC IPO: Will Retail Investors Dive in? Our Poll Suggests...Feb 21, 2022In a surprising turn of events, a poll conducted by Equitymaster suggests retail investors might stay away from LIC's hyped-IPO.

LIC IPO is Around the Corner. Here's what we Know...Feb 4, 2022After the Union Budget 2022, the euphoria around the LIC IPO has become crazier and wilder.

Tech Mahindra's CTC Acquisition: Too Expensive?Jan 18, 2022Tech Mahindra's acquisition of European IT-company fails to excite investors.

LIC IPO: All We Know So FarAug 23, 2021The upcoming LIC IPO is so huge that it may be split into two parts.

The 6 Most Affected Sectors by CovidMay 29, 2021Impact of the second covid-19 wave is taking a toll on financially important sectors.

Health Insurance Policyholders Can Now Select TPA of Their ChoiceDec 18, 2019PersonalFN explains how IRDAI new regulation relating to TPAs will benefit policyholders.