Life Insurance Market Share in India
Annual gross written premium (GWP) and market share for each life insurer — FY2019-20 through FY2024-25. Source: IRDAI Annual Reports, Statement 3.
LIC vs Private Sector — Total GWP
| Segment | FY24-25 | FY23-24 | FY22-23 | FY21-22 | FY20-21 | FY19-20 |
|---|---|---|---|---|---|---|
| LIC | 55.5% | 57.7% | 61.1% | 62.3% | 64.6% | 66.7% |
| Private | 44.5% | 42.3% | 38.9% | 37.7% | 35.4% | 33.3% |
Market Share by Insurer (% of life sector GWP)
Sorted by FY24-25 GWP descending. "—" = data not available for that year.
| Insurer | FY24-25 | FY23-24 | FY22-23 | FY21-22 | FY20-21 | FY19-20 |
|---|---|---|---|---|---|---|
| LIC | 55.5% | 57.7% | 61.1% | 62.3% | 64.6% | 66.7% |
| SBI Life Insurance | 9.7% | 9.9% | 8.7% | 8.5% | 8.1% | 7.1% |
| HDFC Life Insurance | 8.1% | 7.7% | 7.4% | 6.7% | 6.2% | 5.8% |
| ICICI Prudential Life Insurance | 5.6% | 5.2% | 5.1% | 5.4% | 5.7% | 5.9% |
| Axis Max Life Insurance | 3.8% | 3.6% | 3.3% | 3.3% | 3.0% | 2.8% |
| Tata AIA Life Insurance | 3.6% | 3.1% | 2.6% | 2.1% | 1.8% | 1.5% |
| Bajaj Life Insurance (formerly Bajaj Allianz Life) | 3.1% | 2.8% | 2.5% | 2.3% | 1.9% | 1.7% |
| Aditya Birla Sun Life Insurance | 2.3% | 2.1% | 1.9% | 1.8% | 1.6% | 1.4% |
| Kotak Life Insurance | 2.1% | 2.1% | 2.0% | 1.9% | 1.8% | 1.8% |
| PNB MetLife Insurance | 1.3% | 1.2% | 1.1% | 1.1% | 1.0% | 1.0% |
| Star Union Dai-ichi Life Insurance | 0.9% | 0.8% | 0.7% | 0.6% | 0.5% | 0.4% |
| Canara HSBC Life Insurance | 0.9% | 0.9% | 0.9% | 0.9% | 0.8% | 0.7% |
| IndiaFirst Life Insurance | 0.8% | 0.8% | 0.8% | 0.8% | 0.7% | 0.6% |
| Shriram Life Insurance | 0.5% | 0.4% | 0.3% | 0.3% | 0.3% | 0.3% |
| Ageas Federal Life Insurance | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% |
| Bharti AXA Life Insurance | 0.3% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% |
| Future Generali Life Insurance | 0.3% | 0.2% | 0.2% | 0.2% | 0.2% | 0.3% |
| Edelweiss Life Insurance | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% |
| Pramerica Life Insurance | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% |
| Aviva Life Insurance | 0.1% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% |
| Digit Life Insurance | 0.1% | 0.1% | — | — | — | — |
| Bandhan Life Insurance | 0.1% | 0.1% | 0.0% | 0.1% | 0.1% | 0.1% |
| Credit Access Life Insurance | 0.0% | 0.0% | — | — | — | — |
| Acko Life | 0.0% | 0.0% | — | — | — | — |
| Exide Life Insurance | 0.0% | 0.0% | 0.0% | 0.5% | 0.5% | 0.6% |
Source: IRDAI Annual Reports (Statement 3). GWP = gross written premium; market share computed within life sector only.General insurance market share → ·FY2024-25 full data →