Top 5 Life Insurance Companies

Hey guys, well today i am going to tell you about some Life Insurance Companies in India, so without getting late let's check them out =)

List of Top 5 Life Insurance Companies:

1. Life Insurance Corporation of India also known as LIC is an Indian state-owned insurance group and investment corporation owned by the Government of India.

The Life insurance Corporation of India was founded on September 1, 1956, when the Parliament of India passed the Life Insurance of India Act that nationalized

the insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state-owned Life Insurance Corporation of India.

2. HDFC Life Limited (d/b/a HDFC Life Insurance Company Ltd.) is a long-term life insurance provider with its headquarters in Mumbai, offering individual

and group insurance services. The company is a joint venture between Housing Development Finance Corporation Ltd (HDFC), one of India's leading housing

finance institutions and Standard Life Aberdeen plc, a global investment company. As on 31 March 2020, the promoters; HDFC Ltd. and Standard Life

(Mauritius Holdings) 2006 Ltd. hold a 51.4% and 12.3% stake in HDFC Life respectively. The remaining equity is held by public shareholders.

3. Max Life Insurance Company Limited (formerly known as Max New York Life Insurance Company Limited) is a life insurance company in India.

The company is a subsidiary of the publicly listed Max Financial Services and is the largest non-bank private-sector life insurer in India. It was founded in

2000 after the liberalization of the insurance sector in India and its operations began in 2001.

4. Kotak Mahindra Life Insurance Company Limited is a private Life Insurance company in India. The company was founded in 2001. It caters to

15 million customers and has 232 branches in around 167 cities and towns in India with 99,275 agents. Under the umbrella, the company offers various

protection plans, savings and investment plans, child plans and retirement plans.

5. SBI Life Insurance is a joint venture life insurance company between State Bank of India (SBI), the largest state-owned banking and financial services

company in India, and BNP Paribas Cardif. BNP Paribas is a French multinational bank and financial services company with global headquarters in Paris. SBI

has a 62.1% stake in the company and BNP Paribas Cardif owns a 22% stake. Other investors are Value Line Pte. Ltd.