List of Insurance Companies (Life & General) in India in 2025

Insurance policies can come to your aid and deliver financial assistance when the need arises. Emergencies can occur at any time, whether medical or otherwise, which is the precise time when such insurance plans come into effect.

However, before you can learn more about insurance in general, you should be able to categorise them based on type.

Broadly, you can divide insurance policies into two types, namely life and general insurance. While life insurance policies indicate just one policy, general insurance can be divided further into subcategories.

For any policyholder, distinguishing between life and general insurance plans is integral.

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What is Life Insurance?
Types of Life Insurance
What is General Insurance?
Types of General Insurance
Life and General Insurance Companies
Life Insurance vs General Insurance
Things to Consider
Frequently Asked Questions

What is Life Insurance?

Life insurance is a contract between the insurance policyholder and the insurer. The insurer agrees to payment of a sum on the death of the person insured or after a defined period in return for the premium paid during his old age by the policyholder.

Life insurance companies help protect your loved ones' future by offering a death benefit in case of unexpected events. Such policies also offer maturity benefits upon completion of the term the scheme has been availed.

Types of Life Insurance

The types of life insurance policies available in India are given in the following table:

S No	Types of Life Insurance	Meaning
1	Term Insurance	It refers to the life insurance category that can provide life coverage in the case of death. You have to pay premiums for a specific duration, and in the case of any unfortunate incident, the nominee will get the insured money.
2	ULIP (Unit Linked Insurance Plans)	Unit Linked Insurance Plans, or ULIPs, provide insurance coverage and investment benefits. Your premium is divided between insurance and investments in debt and equity.
3	Endowment Plans	An endowment plan is a life insurance plan that provides life cover from death or maturity benefits at the expiry of the policy.
4	Child Insurance Plans	In these plans, life insurance is combined with savings. Parents need to pay premiums that accumulate into a maturity benefit for their child's education.
5	Whole Life Insurance	Whole Life Insurance protects the insured person financially for up to 99 years. People buy this life insurance category to provide life coverage to their nominee or family in case of death before reaching the age of 99.
6	Money Back Policy	Money Back Policy is an integrated insurance-cum-investment product that helps generate income annually throughout the policy tenure.
7	Retirement Plans	Retirement plans are more financially designed instruments to build a corpus for your needs at retirement.
8	Pension Plans	Pension plans are generally life insurance, where one receives a certain amount of money at regular intervals during retirement.

What is General Insurance?

A general insurance policy is a contract between a policyholder and an insurer that protects valuable assets from unwanted perils like fire, theft, burglary, etc. The insurance plan is bought by individuals and businesses to protect them against sudden financial losses because of various unforeseen events agendas like ill health, accidents, damage, etc.

With the help of financial recompense and assistance at times of disaster, general insurance reduces the impact of unforeseen events, ensuring peace of mind and stability to policyholders and businesses.

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Types of General Insurance

In the following table, we have mentioned the types of general insurance policies available in the market:

SNo.	Types of General Insurance	Meaning
1.	Health Insurance	This policy protects an individual's finances from a financial crisis in case they fall ill or get injured. It covers all the outlays incurred towards hospitalisation, medical tests, surgeries, etc.
2.	Motor Insurance	Motor insurance policy is like health insurance policy for your vehicle. It provides financial coverage for accidents, theft, damage, fire, or natural disasters. This insurance policy is divided into two categories: car insurance policy and bike insurance policy
3.	Travel Insurance	Travel insurance policies could give protection by way of varied risks, including but not limited to medical emergencies, loss of baggage, trip cancellation, and even travel delays.
4.	Property Insurance	This policy covers the risk of financial damage or loss of property. It protects residential and business property against risks such as fire, burglary, natural catastrophes, vandalism, etc.
5.	Pet Insurance	Pet insurance reimburses the value spent by a veterinarian in keeping the pets healthy. This policy removes the financial strain a pet owner is subjected to in treating their beloved pets.

List of Life Insurance Companies in India

Find the list of life insurance companies in India below

Company Name	IRDA Registration Number	Founding Year	Headquarter Location
Life Insurance Corporation of India	512	1956	Mumbai
Max Life Insurance Co. Ltd.	104	2000	New Delhi
HDFC Life Insurance Co. Ltd	101	2000	Mumbai
ICICI Prudential Life Insurance Co. Ltd.	105	2000	Mumbai
Aditya Birla SunLife Insurance Co. Ltd.	109	2000	Mumbai
Kotak Mahindra Life Insurance Co. Ltd.	107	2001	Mumbai
Pramerica Life Insurance Co. Ltd.	140	2008	Gurugram
TATA AIA Life Insurance Co. Ltd.	110	2000	Mumbai
Bajaj Allianz Life Insurance Co. Ltd.	113	2001	Pune
SBI Life Insurance Co. Ltd.	111	2001	Mumbai
Exide Life Insurance Co. Ltd	114	2001	Bengaluru
Reliance Nippon Life Insurance Company	121	2001	Mumbai
Sahara India Life Insurance Co. Ltd.	127	2000	Kanpur
Aviva Life Insurance Company India Ltd.	122	2002	Gurugram
PNB MetLife India Insurance Co. Ltd	117	2001	Mumbai
Bharti AXA Life Insurance Company Ltd	130	2005	Mumbai
IDBI Federal Life Insurance Company Limited	135	2008	Mumbai
Future Generali India Life Insurance Company Limited	133	2006	Mumbai
Shriram Life Insurance Co. Ltd.	137	2005	Hyderabad
Aegon Life Insurance Company Limited	138	2008	Mumbai
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited	136	2007	Gurugram
Edelweiss Tokio Life Insurance Company Limited	147	2009	Mumbai
Star Union Dai-Ichi Life Insurance Co. Ltd.	142	2007	Mumbai
IndiaFirst Life Insurance Company Ltd.	143	2009	Mumbai

List of General Insurance Companies in India

Find the list of general insurance companies in India below.

Company Name	IRDA Registration Number	Founding Year	Headquarter Location
National Insurance Co. Ltd.	58	1906	Kolkata
Go Digit General Insurance Ltd.	158	2016	Bengaluru
Bajaj Allianz General Insurance Co. Ltd.	113	2001	Pune
Cholamandalam MS General Insurance Co. Ltd.	123	2001	Chennai
Bharti AXA General Insurance Co. Ltd.	139	2008	Mumbai
HDFC ERGO General Insurance Co. Ltd.	146	2002	Mumbai
Future Generali India Insurance Co. Ltd.	133	2007	Mumbai
The New India Assurance Co. Ltd.	190	1919	Mumbai
Iffco Tokio General Insurance Co. Ltd.	106	2000	Gurugram
Reliance General Insurance Co. Ltd.	103	2000	Mumbai
Royal Sundaram General Insurance Co. Ltd.	102	2001	Chennai
The Oriental Insurance Co. Ltd.	556	1947	New Delhi
Tata AIG General Insurance Co. Ltd.	108	2001	Mumbai
SBI General Insurance Co. Ltd.	144	2009	Mumbai
Acko General Insurance Ltd.	157	2016	Mumbai
Navi General Insurance Ltd.	155	2016	Mumbai
Zuno General Insurance Ltd. (formerly known as Edelweiss General Insurance)	159	2016	Mumbai
ICICI Lombard General Insurance Co. Ltd.	115	2001	Mumbai
Kotak Mahindra General Insurance Co. Ltd.	152	2015	Mumbai
Liberty General Insurance Ltd.	150	2013	Mumbai
Magma HDI General Insurance Co. Ltd.	149	2009	Kolkata
Raheja QBE General Insurance Co. Ltd.	141	2007	Mumbai
Shriram General Insurance Co. Ltd.	137	2006	Jaipur
United India Insurance Co. Ltd.	545	1938	Chennai
Universal Sompo General Insurance Co. Ltd.	134	2007	Mumbai
Agriculture Insurance Company of India Ltd.	126	2002	New Delhi
Aditya Birla Health Insurance Co. Ltd.	109	2015	Mumbai
Manipal Cigna Health Insurance Company Limited	151	2012	Mumbai
ECGC Ltd.	124	1957	Mumbai
Max Bupa Health Insurance Co. Ltd	145	2008	New Delhi
Care Health Insurance Ltd	148	2012	Gurgaon
Star Health & Allied Insurance Co. Ltd.	129	2006	Chennai

Difference Between Life Insurance and General Insurance

Factors	Life Insurance	General Insurance
Definition	Covers an individual’s life for a certain sum of money. Upon death of the insured, this money is paid out to next of kin.	All insurance plans, which cannot be classified as life insurance, is known as general insurance policies.
Investment or Insurance	Life insurance is a form of investment.	General insurance policies act as a contract of indemnity.
Contract Tenure	Long term	Short term
Insurance Claim	The sum insured is disbursed as death benefit or upon the maturity of life insurance policy.	Financial reimbursement for unexpected loss or damage of the insured object or person.
Policy Value	A policyholder decides the value of life insurance policy, which is reflected on the policy premiums.	General insurance claims or reimbursement amount on the loss amount suffered by the policyholder.
Insurance Holder	The policyholder must be present when the life insurance contract is being drawn out.	The policyholder must be present during the creation and enforcement of the contract.
Premium	Premium for life insurance plans are payable throughout the year.	General insurance premiums are cleared at once through lump-sum payments.

Things to Consider When Choosing a General Insurance Company

Here are five essential things to remember while choosing a general insurance company:

Policy Options: Look for a company that will provide you with a number of policies that best fit your requirements, be it health, home, travel, or vehicle insurance. The policy should cover most of the probable risks.
Claim Settlement Process: Observe how the company has worked so far regarding efficiency and transparency in settling its claims. Fast and hassle-free processing of claims is extremely important in times of emergency.
Customer Service: Choose an insurance company known for good service and reputation with which they can provide instant solutions to your queries through various communication channels.
Financial Stability: Check the insurance company's financial strength to ensure they can stick to their commitments, even in challenging circumstances.
Premiums and Discounts: Compare premiums offered by different insurers to cover similar risks. Also, check for discounts that are applicable due to no-claim bonuses, bundle policies, etc.

Things to Consider When Choosing a Life Insurance Company

Here are the five essential pointers that you must keep in mind while choosing a life insurance policy:

Policy Options: Look for a firm that provides term plans, whole life insurance, and investment-linked plans to help you achieve your financial goals and be able to provide for the needs of your family.
Settlement Ratio: Check how many claims the firm has settled in the past. The higher the ratio, the better the chances that the sum assured will be given without hassle to the nominees.
Riders: Check for any additional riders or benefits that your policies could extend, majorly in critical illness coverage and accidental death benefits, which will enhance one's coverage based on needs.
Premium Flexibility: Check if the insurance company provides flexible premium payment plans that suit your budget and future goals.
Customer Reviews and Reputation: Get an idea about customer satisfaction levels from the reviews and testimonials of the company's reputation.

In a nutshell, choosing the top insurance companies in India depends on factors like reputation, products, customer service, and claim settlement. Whether you need life insurance for financial security or general insurance for property protection, making smart decisions is essential.

By evaluating these key factors, individuals and businesses can select insurance providers that meet their needs and expectations effectively. People also need to check the features of an insurance policy instead of deciding based on the premium rate alone.

FAQs about List of Insurance Companies in India

All

What is the primary difference between life and general insurance?

Life insurance policies cover the insured individual’s life against a substantial sum of funds for a fixed tenure. If the insured dies during this period, his/her family members are liable to receive this coverage amount from the life insurer as death benefit. However, death benefit clauses are not present in general insurance plans.

What are the benefits of a life insurance policy apart from death benefit?

You should think of life insurance plans as a form of investment. You pay a sum of money as premium throughout the policy tenure.

If the insured outlives this tenure, insurance companies offer a substantial return, based on the amount of premiums you serviced for the policy. Nevertheless, after expiry, the insured’s family member cannot claim death benefit.

How is the claim value determined in case of general insurance policies?

In case of general insurance plans, the claim amount is determined by the extent of damage or the amount of loss suffered by the policyholder.

For instance, in case of a car insurance claim, the insurer will check the extent of damage and assess the cost of initiating repairs. Based on this assessment, the insurance company offers monetary compensation.

However, in the case of life insurance policies, the payout or claim amount remains the same irrespective of other factors.

What is the difference in tenure ranges between general and life insurance policies?

Life insurance plans are long-term contracts, which can range up to 30-40 years in some cases. Therefore, middle-aged individuals opting for such policies can look to secure financial backing for family members in the event of their demise.

General insurance policies have a shorter term, generally between one year and three years. Policyholders can choose to renew coverage before their existing protection lapses.

Failure to renew these plans will lead to suspension of all policy benefits after the end of a particular tenure.

How many insurance companies are listed in India?

There are around 57 insurance companies listed in India, life and general insurance companies.

How many life insurance companies are there in India in 2024?

In 2024, there are approximately 24 life insurance companies active in India and engaged in many life insurance products for customers.

How many General insurance companies are in India?

There are 34 general insurance companies in the country that insure non-life assets such as health, motor vehicles, property, and travel.

How many insurance companies are registered with IRDAI?

Any insurance company operating in the country should mandatorily get itself registered with the Insurance Regulatory and Development Authority of India in order to sell any insurance product.

How to choose the right insurer?

To choose the right insurance company providing the right coverage, you need to consider certain variables such as the insurer's reputation, credibility of claims settlement, product offerings, quality of customer service, and strength in money matters.

What is general insurance in India?

General insurance in India is an insurance policy that covers assets and liabilities other than life insurance. It encompasses Hava policies such as health insurance, motor insurance, home insurance, travel insurance, and a plethora of commercial insurance products.

How does insurance help with taxes?

Insurance helps in taxes by providing deductions on the premiums paid against them. Premiums paid for life insurance policies are eligible for capital deductions under Section 80C of the Income Tax Act and health insurance premiums under Section 80D.

Is general insurance taxable?

In most cases, premiums paid towards any general insurance are not taxable. On the other hand, the benefits that a policyholder draws from some particular categories of policies, such as health insurance or even compensation on motor insurance, are related to tax implications in specific circumstances.

What comes under general insurance?

General insurance has huge coverage of policies that encapsulate assets and liabilities other than life insurance. Ranging from health insurance to motor insurance, travel insurance, and home insurance. It also includes commercial insurance, such as marine and fire insurance.

What are the life insurance companies in India?

The principal business of life insurance companies in India is financial protection products and investment solutions. These are always aligned according to every individual's changing life stages and different needs. Their policies include term insurance, whole life, endowment plans, ULIPs, and pension plans.