Top 10 Insurance Companies in India

By the way, nowadays there are many insurance companies which people are also aware of. But here we will tell you about the top 10 Insurance Companies in India which have achieved great progress and advancement in the field of insurance.

These insurance companies are earning a good name not only in India but also abroad outside India. Also, these companies have been providing their services to people for many years.

The insurance company will discover, for this analysis, we will use the data of individual death claims available in the annual report of IRDA.

1) LIC Insurance Corporation Of India

LIC insurance companies
LIC insurance companies

LIC of India basically stands for ‘Life Insurance Corporation.
LIC Insurance Corporation Of India is the oldest insurance company that provides a life insurance policy.
LIC (Life Insurance Corporation of India) Life Insurance Corporation of India is a very large insurance company operating under the Union Government.

  • It serves life insurance, pension plans, individual and group insurance schemes. It has many different branches such as:
  • Life Insurance Corporation of India
  • International LIC Housing Finance
  • LIC Nepal
  • LIC Lanka
  • LICHFL Care Homes

LIC Insurance Corporation sells many different products such as endowment plans, money back plans, term assurance plans, pension plans, children plans, group schemes, special plans, unit-linked plans, etc.


This insurance company has 12 million people as policyholders and 9 lakh agents. So far this company has given 120 million policies. The biggest secret of its success is its favorable capacity. This company has been in operation since 1964.

2)Tata AIG General Insurance

Tata AIG insurance company
Tata AIG

The secret of the success of this company is its trusted employees. It is the 5th largest company in India, working in the field of banking sector and finance.

Employees of Tata AIG General say that the main reason for working here is that the employment here gives career growth and enough opportunities. It is a very large insurance company working in the field of journal insurance.

Tata AIA Life Insurance Company Limited is a leading joint venture company, formed by Tata Sons Ltd. and AIA Group Ltd.
The Claim Settlement Ratio of this life insurance company is 98%. That means 3,659 claims have been paid by this life insurance company.

3) ICICI Prudential Life Insurance

ICICI  insurance company
ICICI insurance company

ICICI Prudential Life Insurance Company has achieved the National Financial Strength Rating AAA Life Insurance by Fitch.

For three consecutive years, this company has won the title of Trusted Private Life Insurance Company. It has 1900 branches and there are more than 2 lakh advisors.
ICICI Prudential Life Insurance was established in the year 2001. From then it has been serving life insurance companies.

Claim Settlement Ratio of ICICI Prudential Life Insurance is 96.68%. That is 11,546 claims have been paid by this life insurance company till present.

4)ICICI Lombard General Insurance

Lombard General Insurance insurance company
Lombard General Insurance

This insurance company operates in different domains such as General Insurance, Insurance claims, Management, Re-Insurance, and Investment Management. Also, the company is a large general insurance company among private companies.

It is also the first Indian organization to receive ISO 9001: 2000 official recognition. It is also rated AAA by ICRO.

5)Birla Sun Life Insurance

Birla Sun Life  insurance company
Birla Sun Life Insurance


Birla Sun Life Insurance has always been a major contributor to growth in India’s life insurance sector and is currently one of the top 5 private life insurance companies in the country.

It is also the first financial services provider in India to come up with the Business Continuity Plan, Unit Linked Life Insurance Plan, and Free Look facility.

6)HDFC Standard Life Insurance

HDFC Standard Life  insurance company
HDFC Standard Life insurance


This company is now known as HDFC Life. It is a prominent name among private insurance companies. It deals with both individual and group insurance products.

They also have the adequate financial capacity to take care of investment in the long term in a safe manner. HDFC Life works with more than 700 cities and 568 branches. He also has 2 lakh, financial advisors.

7)Oriental insurance

Oriental  insurance company
Oriental insurance company


The Oriental Insurance Insurance Company is also a top-ranked insurance company. AM Best, an international rating agency, has given it a B rating, which is a good ranking. There are 26 regional offices in India and at least 900 operating offices. In addition, it operates in places like Nepal, Dubai, and Kuwait.

8)IFFCO Tokyo General Insurance

IFFCO Tokyo General  insurance company
IFFCO Tokyo General insurance company


The company has 110 offices across the country and 51 strategic business units. It is the only insurer in India that offers a fully owned distribution channel called IFFCO-Tokyo Insurance Services Limited catering to retail customers. It currently has 1400 employees and is one of the major insurance companies in the automobile and fertilizer sector.

9) Max Life Insurance

Max Life  insurance company
Max Life insurance company

Max Life Insurance company ranks as the fifth top life insurance company in India in 2019. Max Life Insurance company offers one of the best life insurance plans in India.

Max Life Insurance company offers a very low premium and one of the best life securing a policy that is why it is listed in top insurance companies in India 2019.

The claim settlement ratio of Max Life Insurance Company is 97.81%. That is 8,804 claims have been settled by this life insurance company till present.

10) PNB Metlife India Insurance

PNB Metlife India insurance company
PNB Metlife India insurance company

The PNB Metlife India Insurance is the tenth best life insurance company in India.

So PNB Metlife India Insurance is one of the best life insurance companies in India. This life insurance company is basically a joint venture between PNB and Metlife companies.

The full- form of PNB is ‘Punjab National Bank’.

PNB Metlife India Insurance company combines the financial strength of Metlife and the reliability and credibility of PNB.

The Claim Settlement Ratio of this life insurance company is 87.14%. That is 2,290 claims have been paid till present by this life insurance company.

So life insurance policy is one of the important things in an individual’s life. These companies provide the best life insurance company and life insurance policy must be issued from these top 10 life insurance companies in India 2020.

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