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Top Insurance Stocks 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.


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Jul 19, 2022

The private insurer reported good set of numbers, registering double-digit growth in all metrics.

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Sep 25, 2023

A close look at the top smallcap picks of India's biggest insurer Life Insurance Corp (LIC).

Why HDFC Life Share Price is Rising

Jun 28, 2023

The HDFC group company was under pressure after this year's Union budget announcements. But now, it's all set to capitalize on growth on the back of multiple tailwinds. Continue reading...

Why HDFC Life Insurance Share Price is Falling

Feb 6, 2023

Shares of HDFC Life tumble over 15% in five days. Find out why.

Why ICICI Prudential Share Price is Falling

Oct 31, 2022

The stock is down 11% in 2022 and 20% in the last year. Find out why.

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.

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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...

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In the grey market, shares of LIC are trading with a premium of Rs 20 at Rs 969 per share.