Largest Life Insurance Company in the World 2024, List of Top-10

Insurance Financial planning is an important aspect of financial planning that provides protection to individuals and their families in times of need. In India, the life insurance sector has seen significant growth, with many companies emerging as leaders in the industry. Here, we delve deeper into Top 10 Life Insurance Companies in India, His contribution to the insurance landscape of the country was highlighted.

What are insurance companies?

Insurance company Are financial institutions that provide protection against financial loss to individuals and organizations in exchange for premium payments. They assess the risks and provide policies tailored to specific needs, covering various aspects such as life, health, property and automobile. Insurance companies play an important role in reducing uncertainties and promoting financial security for their policyholders.

Life Insurance Companies in India

India’s life insurance sector is driven by giants like Life Insurance Corporation of India (LIC)), offering a wide range of plans. private players like HDFC Life, SBI Life and ICICI Prudential Contribute to the growth of the industry with innovative products and customer-centric services. These companies, along with Max Life, Bajaj Allianz and others, are shaping the life insurance landscape, and providing financial security to millions of people across the country.

India’s largest life insurance company 2024

Life Insurance Corporation of India (LIC), India’s leading life insurance provider, offers a wide range of policies including term, endowment and plans for senior citizens and children. With policies categorized into endowment, money back, term, pension, unit-linked, rural and limited health plans, LIC ensures comprehensive coverage. Some? Plans also extend coverage up to 99 yearsProviding survival, maturity and death benefits to policyholders, strengthening its position India’s largest life insurance company in 2024.

Top 10 largest life insurance companies in India by January 2024

Life Insurance Corporation of India (LIC)), with Market capitalization of Rs. 5,40,660.80 croreholds the title of India’s largest life insurance companyThis is followed by Bajaj Finance Limited, SBI Life Insurance Company and HDFC Life Insurance Company Limited.

Here is the list of top 10 largest life insurance companies in India as of January 2024:

Largest Life Insurance Companies in India 2024
Post company market cap. (in crore rupees) Closing Price (Rs.) P / E ratio (%)

1. Life Insurance Corporation of India 5,40,660.80 854.80 15.02
2. Bajaj Finance Limited 2,59,803.78 1,632.40 40.49
3. SBI Life Insurance Company Limited 1,43,182.36 1,430.05 83.22
4. HDFC Life Insurance Company Limited 1,32,114.11 614.45 96.56
5. ICICI Prudential Life Insurance Company Limited 75,199.70 522.20 92.44
6. ICICI Lombard General Insurance Company Limited 67,580.82 1,372.80 39.09
7. General Insurance Corporation of India 54,596.93 311.20 7.90
8. New India Assurance Company Limited 35,753.36 216.95 34.12
9. Star Health & Allied Insurance Company Limited 32,476.37 555.05 52.50
10. Max Financial Services Limited 32,014.57 927.65 84.59

India’s largest life insurance company – Life Insurance Corporation of India

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Market Capitalization: Rs. 5,40,660.80 crore

LICleading in insurance sector of india For more than a century, has dominated with Highest market share in 2024. With a diverse product range and strong financial indicators, it boasts of the highest market share in the country Capitalization at Rs 5,40,660.80 crore, Its PE ratio of 15.02 and impressive 1-year Investment return of 20.53% Shows its profitability and efficiency with remarkable returns Equity of 124.54%.

India’s second largest life insurance company – Bajaj Finance Limited

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Market Capitalization: Rs. 2,59,803.78 crore

As India’s second largest life insurance company, Bajaj Finserv Serves as the main investment and holding entity for diversified financial services within the Bajaj Group. with a current Market Capitalization Rs. 2,59,803.78 croreIt claims to earn the highest CAGR of 20.19% One of the top 10 insurance companies in India in the last 5 years. it is current PE ratio is at 40.49Reflects strong market performance and growth potential.

Third largest life insurance company in India – SBI Life Insurance Company Limited.

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Market Capitalization: Rs. 1,43,182.36 crore

As India’s third largest life insurance companySBI Life, established in 2000 And listed on both NSE and BSE, it has overtaken HDFC Life in market share. with an authorized Share capital of Rs. 20 billion, And Rs. Paid-up capital of. 10 billion, its current market capitalization is Rs. 1,43,182.36 crore. Its PE ratio is at 83.2When 1,The annual investment return is 9.93%, Reflects stable growth and market performance.

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