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Sunday, July 24, 2016

List of insurance companies in india under IRDA

IRDA: IRDA is an abbreviation of Insurance Regulatory and Development Authority. This authority was established on 29th December, 1999. The Central Government enforced the Insurance Regulatory and Development Authority Act, 1999. Under this Act, they want to protect the interests of Policyholders, promote and ensure about the growth of Insurance Industry and to regulate the matters are collected therewith.

The objective of this authority is only for insurance holders. They protect them from any fraud and mishappenings, by an Insurance Company with their customers.

1. Aviva Life Insurance

Aviva life insurance is a joint venture of two companies and it is one of the largest insurance groups of UK. The joint venture was made between Dabur and Aviva group and the company associate with India in 1834. In india, they expanded their business and opened 134 branches in nearly 1000 towns and cities.

2. Bajaj Allianz General Insurance

Bajaj Allianz General Insurance Co. Ltd. is a joint venture between Allianz SE and Bajaj  Finserv Limited. The company received an IRDA certificate on 2nd May, 2001 and formed an Insurance company in india. The Allianz SE has acquired 26% share and, on the other hand, Bajaj Finserv Limited has acquired 74% share of company. At present, the total paid up capital of company is Rs. 110 crore.

3. Birla Sun Life Insurance

The company is also a joint venture of two companies, which are known as Aditya Birla Group and Sun Life Financial Inc. It is one of the leading insurance companies from Canada.

4. HDFC insurance

HDFC insurance is also included in India’s most popular insurance companies. It was established in india on 12th Dec, 2000. The company is a first private player of insurance company, which get an IRDA certificate from IRDA.

5. ICICI Prudential Life Insurance

It is also a joint venture company between ICICI Bank and a Prudential Plc, a leading international financial services group. The company was getting their Certificate from IRDA in December 2000

6. IDBI Federal Life Insurance

The company is also a joint venture company of IDBI Bank and Federal Bank, both these banks are India’s leading private and commercial banks.

7. Life Insurance Company

Life Insurance company is one of the most popular Insurance companies of india. The company provides various types of insurance policies to their customers. This company was started Five decades ago and it has won the trust of millions of people worldwide.

8. ING Vysya Life Insurance

ING Vysya Life Insurance Co. is also counted in the list of India’s life insurance companies, which fall under the IRDA act. The company was established in india with over a decade in over 200 cities of india. The company communicates with millions of people. The headquarter of this company is established in Bangalore.

9. Reliance Life Insurance

Reliance Life Insurance Co. is owned by the Reliance group of Industries. It is also counted in the list of india’s life insurance companies, which fall under the IRDA act. The company has communicated with millions of people.

10. MAX Life Insurance

The company is counted amongst most popular insurance companies of India. The company wants to become one of the most admired life insurance companies in India for their shareholders or members. The goal of this insurance company is to become the best national player in all insurance companies.

11. SBI Life Insurance

The company is also a joint venture of State Bank of India (SBI) and BNP Paribas Cardif.

All these companies, mentioned above, are most popular and well established insurance companies of India. Below mentioned few other names of companies:

12. TATA ARIA Life Insurance Co. Ltd.

13. Shriram Insurance Co. Ltd.

14. PNB Metlife Insurance Co. Ltd.

15. Sahara India Life Insurance Co. Ltd.

16. DLF Pramerica Life Insurance Co. Ltd.

17. Future Generali Life Insurance Co. Ltd.

18. IndiaFirst Life Insurance Co. Ltd.

19. Aegon Religare Life Insurance Co. Ltd.

20. Edelweiss Tokio Life Insurance Co. Ltd.