Dear Sir / Madam, we are trying to give you a short list of top insurace companies list in INDIA.
Top Best Insurance Companies Are Listed Below:
1. Life Insurance Corporation of India (LIC):Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of ₹1560482 crore (US$250 billion). As of 2013 it had total life fund of Rs.1433103.14 crore with total value of policies sold of 367.82 lakh that year.
Top Best Insurance Companies Are Listed Below:
1. Life Insurance Corporation of India (LIC):Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of ₹1560482 crore (US$250 billion). As of 2013 it had total life fund of Rs.1433103.14 crore with total value of policies sold of 367.82 lakh that year.
The company was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalised the private insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state owned Life Insurance Corporation.
2.SBI Life Insurance: is a joint venture life insurance company between State Bank of India (SBI), the largest state-owned banking andfinancial services company in India, and BNP Paribas Assurance. SBI owns 74% of the total capital and BNP Paribas Assurance the remaining 26% of the capital. SBI Life Insurance has an authorized capital of ₹20 billion (US$320 million)and a paid up capital of₹10 billion (US$160 million).
In 2007, CRISIL Ltd, a subsidiary of global rating agency Standard & Poor's, gave the company a AAA/Stable/P1+ rating.
3.Birla Sun Life Insurance Company Limited (BSLI):The Aditya Birla Group is an Indian multinational conglomerate named after Aditya Vikram Birla, headquartered in the Aditya Birla Centre in Worli, Mumbai, India. It operates in 40 countries with more than 120,000 employees worldwide. The group was founded by Seth Shiv Narayan Birla in 1857. The group interests in sectors such as viscose staple fibre, metals, cement (largest in India), viscose filament yarn, branded apparel, carbon black, chemicals, fertilisers, insulators, financial services, telecom (third largest in India), BPO and IT services.
The group had a revenue of approximately US$45 billion in year 2014. With a gross revenue of USD 45 Billion (in 2014) it is the third-largest Indian private sector conglomerate behind Tata Group with revenue of just over US$100 billion and RIL with revenue of US$74 billion.
4.Reliance Life Insurance Company (RLIC): is one of the largest life insurance companies in India with a market share of 5% . The company has over 7 million policy holders and a distribution network of close to 1,230 branches with over 124,000 agents as of 31 March 2013. The firm offers life insurance products targeted at individuals and groups, catering to four distinct segments: protection, children, retirement and investment plans.
5.ICICI Prudential Life Insurance:ICICI Bank is an Indian multinational banking and financial services company headquartered in Vadodara, Gujarat, India. As of 2014 it is the second largest bank in India in terms of assets and market capitalization. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas ofinvestment banking, life, non-life insurance, venture capital and asset management. The Bank has a network of 4,050 branches and 12,642 ATMs in India, and has a presence in 17 countries including India.
ICICI Bank is one of the Big Four banks of India, along with State Bank of India, Punjab National Bank and Bank of Baroda. The bank has subsidiaries in the United Kingdom and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Dubai International Finance Centre and China; and representative offices in United Arab Emirates, South Africa, Bangladesh, Malaysia and Indonesia. The company's UK subsidiary has also established branches in Belgium and Germany.
In March 2013, Operation Red Spider showed high-ranking officials and some employees of ICICI Bank involved in money laundering. After a government inquiry, ICICI Bank suspended 18 employees and faced penalties from the Reserve Bank of India in relation to the activity.
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