General Insurance Companies Of India

The general insurance sector has 06 public sector undertakings and rest are in private sector.

General insurance companies of india. Icici lombard general insurance company limited is one of the leading private sector general insurance companies in india. Hdfc ergo general insurance. There are 34 general insurance companies in india. Of these 05 companies are standalone health insurance companies.

As a result most of the general insurance companies in india have recognized this opportunity beforehand and have introduced attractive features in their policies to attract customers. Insurance sector has shown tremendous growth in the recent years. List of general insurance companies in india. The company offers its services into retail corporate rural sectors.

Is a private public joint venture between three public sector banks namely indian overseas bank iob allahabad bank and karnataka bank. This multinational company is solely owned by the government and is the biggest in the public sector market. One of the leading fmgc companies of india and sompo japan nipponkoa a private japanese insurance company based out in tokyo. Earlier only two insurance companies were there in india life insurance corporation of india lic and general insurance corporation of india gic.

Updated list of top 10 best general insurance companies in india to buy insurance plans 1. The company has a gross written premium gwp of rs 147 89 billion fy 2019. Hdfc ergo is a joint venture of hdfc ltd of india ergo international ag based in munich. New india assurance company limited.

Gic re or gic of india is a state owned enterprise in india it was incorporated on 22 november 1972 under companies act 1956. Gic re has its registered office and headquarters in mumbai it was the sole reinsurance company in the indian insurance market until the insurance market was open to foreign reinsurance players by late 2016 including companies from germany switzerland and france. For corporate sector products. For retail sector products are health motor personal accident travel etc.

Following is the list of insurance companies in india which have been approved by the insurance regulatory and development authority of india irdai which is a statutory body regulating and promoting the insurance and re insurance industries in india. New india assurance company limited. Out of 30 general insurers 4 are public insurance companies 6 standalone health insurers 18 mainstream private general insurance companies and remaining 2specialized. The firm offers policy insurance and renewal through its intermediaries and website.

Universal sompo general insurance company ltd. Four of the public sector general insurers carry on multiline operations whereas two ecgc and aic are specialised companies.