Indian Insurance Market in Review — FY2022-23
Data from IRDAI public disclosures — annual period ending 31 March 2023.
₹777338 cr
Total life GWP
₹229538 cr
Total general GWP
₹26244 cr
Total health GWP
3
Below solvency min
of 53 with Q4 data
Life — Top 3 by GWP
| 1 | LIC | ₹474668 cr | 61.1% |
| 2 | SBI Life Insurance | ₹67316 cr | 8.7% |
| 3 | HDFC Life Insurance | ₹57533 cr | 7.4% |
General — Top 3 by GWP
| 1 | New India Assurance | ₹37482 cr | 16.3% |
| 2 | ICICI Lombard General Insurance | ₹21025 cr | 9.2% |
| 3 | United India Insurance | ₹17644 cr | 7.7% |
Standalone Health — Top 3 by GWP
| 1 | Star Health Insurance | ₹12952 cr | 49.4% |
| 2 | Care Health Insurance | ₹5142 cr | 19.6% |
| 3 | Niva Bupa Health Insurance | ₹4073 cr | 15.5% |
Claims highlights
- Lowest ICR (general): ECGC — -74.70% (FY22-23)
Source: IRDAI public disclosures — annual period ending 31 March 2023.Full FY2022-23 data →