Life Insurance in India — Regulatory Data
India has 26 IRDAI-licensed life insurance companies. The sector is dominated by LIC, the government-owned life insurer. This page covers gross written premium, 13-month persistency, claim settlement ratios, and solvency for life insurers with available data in IRDAI quarterly public disclosures.
Gross Written Premium — FY25-03 (Top 10)
Total across 25 life insurers with data: ₹8.80 lakh crore
| Insurer | GWP | Market Share |
|---|---|---|
| LIC | ₹4.89 lakh crore | 55.5% |
| SBI Life Insurance | ₹84,985 crore | 9.7% |
| HDFC Life Insurance | ₹71,045 crore | 8.1% |
| ICICI Prudential Life Insurance | ₹48,951 crore | 5.6% |
| Axis Max Life Insurance | ₹33,223 crore | 3.8% |
| Tata AIA Life Insurance | ₹31,484 crore | 3.6% |
| Bajaj Life Insurance (formerly Bajaj Allianz Life) | ₹27,160 crore | 3.1% |
| Aditya Birla Sun Life Insurance | ₹20,639 crore | 2.3% |
| Kotak Life Insurance | ₹18,376 crore | 2.1% |
| PNB MetLife Insurance | ₹11,752 crore | 1.3% |
Source: IRDAI Annual Report FY25-03. Market share within life sector only.Full FY24-25 data →
13-Month Persistency — Top 5
13-month persistency measures the proportion of policyholders who renew their policy in the 13th month. Higher is better. Regulatory data from IRDAI L-35 filings.
| Insurer | 13m Persistency | Period |
|---|---|---|
| SBI Life Insurance | 84.35% | Q1 FY26-27 |
| Tata AIA Life Insurance | 83.85% | Q1 FY26-27 |
| IndusInd Nippon Life Insurance | 81.70% | Q1 FY26-27 |
| ICICI Prudential Life Insurance | 81.50% | Q1 FY26-27 |
| Axis Max Life Insurance | 81.00% | Q1 FY26-27 |
Source: IRDAI quarterly L-35 public disclosures. Different insurers may be in different reporting periods.All persistency data →
Claim Settlement Ratio — Top 5
Percentage of life insurance claims settled. Higher is better. Derived from IRDAI L-40 quarterly claim data.
| Insurer | Claim Settlement | Period |
|---|---|---|
| PNB MetLife Insurance | 97.92% | Q1 FY26-27 |
| Axis Max Life Insurance | 97.12% | Q1 FY26-27 |
| Ageas Federal Life Insurance | 97.08% | Q1 FY26-27 |
| IndiaFirst Life Insurance | 96.57% | Q1 FY26-27 |
| IndusInd Nippon Life Insurance | 95.88% | Q1 FY26-27 |
Source: IRDAI quarterly L-40 public disclosures.All CSR data →
Solvency Ratio — Life Insurers
IRDAI regulatory minimum is 1.5×. Values below minimum shown in red.Full solvency history →
Source: IRDAI quarterly L-26 public disclosures.
Analysis
All Life Insurers
- Acko Life
- Aditya Birla Sun Life Insurance
- Ageas Federal Life Insurance
- Aviva Life Insurance
- Axis Max Life Insurance
- Bajaj Life Insurance (formerly Bajaj Allianz Life)
- Bandhan Life Insurance
- Bharti AXA Life Insurance
- Canara HSBC Life Insurance
- Credit Access Life Insurance
- Digit Life Insurance
- Edelweiss Life Insurance
- Exide Life Insurance
- Future Generali Life Insurance
- HDFC Life Insurance
- ICICI Prudential Life Insurance
- IndiaFirst Life Insurance
- IndusInd Nippon Life Insurance
- Kotak Life Insurance
- LIC
- PNB MetLife Insurance
- Pramerica Life Insurance
- SBI Life Insurance
- Shriram Life Insurance
- Star Union Dai-ichi Life Insurance
- Tata AIA Life Insurance