List of major insurance companies in India

Here is a list of major insurance companies in India across both life insurance and general (non-life) insurance sectors, along with a brief overview of their businesses:

Life Insurance Companies:

1.    Life Insurance Corporation of India (LIC)

o   Type: Public sector

o   Founded: 1956

o   Headquarters: Mumbai

o   Business: LIC is the largest life insurance company in India. It provides a wide range of insurance products such as term insurance, pension plans, health insurance, and unit-linked insurance plans (ULIPs).

o   Key Products: Jeevan Amar, Jeevan Labh, New Endowment Plan.

2.    SBI Life Insurance

o   Type: Private sector

o   Founded: 2001 (JV between SBI and BNP Paribas)

o   Headquarters: Mumbai

o   Business: Offers life insurance, pension plans, and ULIPs. They have a significant bancassurance model through SBI's network.

o   Key Products: Smart Shield, Saral Shield, eWealth Insurance.

3.    HDFC Life Insurance

o   Type: Private sector

o   Founded: 2000

o   Headquarters: Mumbai

o   Business: HDFC Life offers individual and group insurance plans, including protection, retirement, savings, and investment plans.

o   Key Products: Click 2 Protect, Sanchay Plus, Sanchay Par Advantage.

4.    ICICI Prudential Life Insurance

o   Type: Private sector

o   Founded: 2001 (JV between ICICI Bank and Prudential Corporation Holdings)

o   Headquarters: Mumbai

o   Business: Specializes in life insurance, health insurance, and pension plans.

o   Key Products: ICICI Pru iProtect Smart, ICICI Pru Guaranteed Wealth Protector.

5.    Max Life Insurance

o   Type: Private sector

o   Founded: 2000

o   Headquarters: Gurugram

o   Business: Max Life provides a wide range of life insurance products such as term plans, savings plans, and child insurance plans.

o   Key Products: Max Life Smart Wealth Plan, Max Life Online Term Plan.

6.    Tata AIA Life Insurance

o   Type: Private sector

o   Founded: 2001 (JV between Tata Sons and AIA Group)

o   Headquarters: Mumbai

o   Business: Provides life insurance products focused on savings, protection, and health.

o   Key Products: Sampoorna Raksha, iRaksha Supreme.

7.    Bajaj Allianz Life Insurance

o   Type: Private sector

o   Founded: 2001 (JV between Bajaj Finserv and Allianz SE)

o   Headquarters: Pune

o   Business: Offers a variety of life insurance products including term plans, ULIPs, and retirement plans.

o   Key Products: Life Goal Assure, Guaranteed Income Goal.

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General (Non-Life) Insurance Companies:

1.    The New India Assurance Company

o   Type: Public sector

o   Founded: 1919

o   Headquarters: Mumbai

o   Business: The largest general insurance company in India, offering health insurance, motor insurance, and property insurance.

o   Key Products: Health Insurance, Motor Insurance, Marine Insurance.

2.    United India Insurance Company

o   Type: Public sector

o   Founded: 1938

o   Headquarters: Chennai

o   Business: Offers general insurance products including health, motor, and personal accident insurance.

o   Key Products: Personal Accident, Health Insurance, Fire Insurance.

3.    National Insurance Company

o   Type: Public sector

o   Founded: 1906

o   Headquarters: Kolkata

o   Business: Offers a wide range of general insurance products, including health, motor, and rural insurance.

o   Key Products: Mediclaim Insurance, Motor Insurance.

4.    ICICI Lombard General Insurance

o   Type: Private sector

o   Founded: 2001

o   Headquarters: Mumbai

o   Business: A major player in health, motor, travel, and home insurance. It offers both retail and corporate insurance solutions.

o   Key Products: Complete Health Insurance, Motor Insurance, Travel Insurance.

5.    Bajaj Allianz General Insurance

o   Type: Private sector

o   Founded: 2001 (JV between Bajaj Finserv and Allianz SE)

o   Headquarters: Pune

o   Business: Provides a wide range of general insurance products such as health, motor, and property insurance.

o   Key Products: Health Guard, Motor Guard, Travel Insurance.

6.    HDFC ERGO General Insurance

o   Type: Private sector

o   Founded: 2002 (JV between HDFC and ERGO International AG)

o   Headquarters: Mumbai

o   Business: Offers a variety of insurance products like health, motor, home, travel, and agriculture insurance.

o   Key Products: Health Suraksha, Home Shield, Two-wheeler Insurance.

7.    Tata AIG General Insurance

o   Type: Private sector

o   Founded: 2001 (JV between Tata Group and American International Group)

o   Headquarters: Mumbai

o   Business: Specializes in motor, health, travel, and home insurance, both for retail and commercial customers.

o   Key Products: Auto Secure, Health Secure, Travel Guard.

8.    Reliance General Insurance

o   Type: Private sector

o   Founded: 2000

o   Headquarters: Mumbai

o   Business: Provides health, motor, travel, and fire insurance products.

o   Key Products: Health Infinity, Motor Secure, Personal Accident Insurance.

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Health Insurance Specialists:

1.    Star Health and Allied Insurance

o   Type: Private sector

o   Founded: 2006

o   Headquarters: Chennai

o   Business: India's first standalone health insurance company. It offers a range of health insurance products such as family floater, senior citizens, and maternity cover.

o   Key Products: Family Health Optima, Senior Citizens Red Carpet.

2.    Max Bupa Health Insurance

o   Type: Private sector

o   Founded: 2008

o   Headquarters: New Delhi

o   Business: Focuses primarily on health insurance, including family plans, individual plans, and critical illness cover.

o   Key Products: Health Companion, GoActive Health Insurance.

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Other Notable Insurers:

1.    Aditya Birla Health Insurance

o   Type: Private sector

o   Founded: 2015

o   Headquarters: Mumbai

o   Business: Focuses on health insurance, wellness programs, and group health insurance.

o   Key Products: Activ Health, Activ Assure Diamond Plan.

2.    Future Generali India Insurance

o   Type: Private sector

o   Founded: 2006 (JV between Future Group and Generali)

o   Headquarters: Mumbai

o   Business: Offers general insurance, including health, motor, and travel insurance.

o   Key Products: Health Surplus, Private Car Insurance.

This list covers many of the major players in the Indian insurance market. Each of these companies provides a variety of products tailored to different customer needs in life insurance, health insurance, and general insurance.

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