List of Insurance Companies in India (2026)

India has 63 insurance companies registered with the Insurance Regulatory and Development Authority of India as of August, 2026. The register covers 26 life insurers, 26 general insurers, 8 standalone health insurers and 3 reinsurers. 2 more specialised insurers operate besides the 63 insurers. Life Insurance Corporation of India is the only government-owned life insurer, and four public sector companies operate in general insurance.

Key Facts

RegulatorInsurance Regulatory and Development Authority of India (IRDAI)
Life insurers26 (1 government, 25 private)
General insurers26 (4 public sector, 22 private)
Standalone health insurers8 (all private)
Reinsurers3 (1 government, 1 public, 1 private)
Total63
Specialised insurers2, counted separately. See the section below
Governing lawInsurance Act 1938; IRDA Act 1999
Official registerirdai.gov.in
Data verifiedAugust  26, 2026

How Many Insurance Companies are There in India?

India has 63 IRDAI-registered insurance companies in 2026. IRDAI licenses insurers by class of business rather than by corporate group. This is why a single group such as Bajaj or Go Digit appears twice on the register, once for life and once for general.

The table below groups every registered insurer the way the regulator licenses it, so you can match a company to the products it is legally allowed to sell you.

Category Count Government Private Public What they can sell
Life insurance 26 1 25 0 Term, endowment, ULIP, money-back, annuity, pension
General insurance 26 4 22 0 Motor, health, home, travel, marine, fire, liability
Standalone health insurance 8 0 8 0 Health, personal accident, travel only
Reinsurance 3 1 1 1 Reinsurance to other insurers
Total 63 6 56 1

Note:

Two smaller companies sit outside this count. Agriculture Insurance Company of India and ECGC Ltd hold restricted specialised licences. They do not appear on the four registers above, and they cannot sell general insurance to retail buyers. Both are covered further down this page.

Why Published Counts of Indian Insurers Disagree

Published counts of India’s insurance companies range from 24 to 62 because sources count different things. Four differences explain almost all of the variation, and knowing them lets you read any figure correctly, including this one.

  • Different Registers. IRDAI publishes life insurers, general insurers, health insurers and reinsurers as four separate lists. A source that reads two of the four reports a smaller total. This page counts all four, which is where 63 (+2 specialised) comes from.
  • Standalone Health Insurers Folded in or Left Out. Some sources add the 7 standalone health insurers to the 25 general insurers and report 34 non-life companies. Others list them separately, as this page does, and others omit them entirely.
  • Specialised Insurers Included or Excluded. Agriculture Insurance Company and ECGC hold restricted licences and sit outside the four main registers. Counting them gives 62 rather than 60. This page excludes them from the headline figure and covers them separately, because they cannot sell general insurance to a retail buyer and including them overstates the choice available to you.
  • Dormant Registrations and Stale Data. Sahara India Life still holds a registration but writes no new business, after IRDAI directed the transfer of its policy liabilities to SBI Life. Separately, several widely-read pages still list companies that merged years ago, including Exide Life, which merged into HDFC Life, and Bharti AXA General, which merged into ICICI Lombard. Those pages overstate the total while naming companies that no longer exist.

The Rule This Page Follows: 

  • Count every entity currently holding a registration on one of IRDAI’s four main registers.
  • Note dormant registrations where they exist.
  • Cover specialised and foreign-branch entities separately.
  • State the date the count was verified.

Life Insurance Companies in India

India has 26 IRDAI-registered life insurance companies, of which one is government-owned. Life insurers are licensed to sell term plans, endowment and savings policies, unit linked plans, money-back policies, annuities and pension products, and they cannot sell motor, home or standalone health cover.

The list below displays each company’s IRDAI registration number, the regulator’s identifier that appears on every policy document the insurer issues.

#CompanyIRDAI Reg. No.SectorHeadquartersYear of Registration
1Life Insurance Corporation of India512GovernmentMumbai2001
2HDFC Life Insurance101PrivateMumbai2000
3Axis Max Life Insurance104PrivateGurugram2000
4ICICI Prudential Life Insurance105PrivateMumbai2000
5SBI Life Insurance111PrivateMumbai2001
6Kotak Mahindra Life Insurance107PrivateMumbai2001
7Aditya Birla Sun Life Insurance109PrivateMumbai2001
8Tata AIA Life Insurance110PrivateMumbai2001
9Bajaj Life Insurance116PrivatePune2001
10PNB MetLife India Insurance117PrivateMumbai2001
11IndusInd Nippon Life Insurance121PrivateMumbai2002
12Aviva Life Insurance122PrivateGurugram2002
13Sahara India Life Insurance127PrivateLucknow2004
14Shriram Life Insurance128PrivateHyderabad2005
15Bharti AXA Life Insurance130PrivateMumbai2005
16Generali Central Life Insurance133PrivateMumbai2007
17Ageas Federal Life Insurance135PrivateMumbai2007
18Canara HSBC Life Insurance136PrivateGurugram2008
19Bandhan Life Insurance138PrivateMumbai2008
20Pramerica Life Insurance140PrivateGurugram2008
21Star Union Dai-ichi Life Insurance142PrivateMumbai2008
22IndiaFirst Life Insurance143PrivateMumbai2009
23Edelweiss Life Insurance147PrivateMumbai2011
24CreditAccess Life Insurance163PrivateBengaluru2023
25Acko Life Insurance164PrivateBengaluru2023
26Go Digit Life Insurance165PrivatePune2023

LIC remains the largest life insurer in India by premium income and by policies in force, though private insurers have taken a rising share of new business premium since 2020. 

Three companies, CreditAccess Life, Acko Life and Go Digit Life, received licences in 2023 and are the newest entrants to the segment.

Two names on this list changed recently. Bajaj Allianz Life became Bajaj Life after Allianz SE sold its stake to Bajaj Group, and Future Generali India Life became Generali Central Life. Both entities continue to honour policies issued under the old names.

Sahara India Life still holds a registration but no longer writes new policies, because IRDAI directed the transfer of its policy liabilities to SBI Life.

Compare all 26 life insurers on claim settlement ratio and solvency →

General Insurance Companies in India

India has 26 IRDAI-registered general insurance companies, also called non-life insurers, of which four are government-owned. General insurers cover motor, health, home, travel, marine, fire and liability risks, and every one of them is permitted to sell health insurance alongside a standalone health insurer.

Public Sector General Insurance Companies

Four general insurers are wholly owned by the Government of India. All four trace back to the nationalisation of general insurance in 1972, though each was founded decades earlier.

Company IRDAI Reg. No. Headquarters Year of Registration
The New India Assurance 190 Mumbai 1919
United India Insurance 545 Chennai 1938
The Oriental Insurance 556 New Delhi 1947
National Insurance 58 Kolkata 1906

New India Assurance is the largest general insurer in India by gross direct premium and the only Indian insurer with a substantial overseas book. National Insurance, founded in Kolkata in 1906, is the oldest general insurance company still operating in the country.

Private General Insurance Companies

Twenty-one private general insurers hold IRDAI registrations. They entered after the sector opened to private capital in 2000 and now account for most of the premium growth in Indian non-life insurance.

#CompanyIRDAI Reg. No.HeadquartersYear of Registration
1ICICI Lombard General Insurance115Mumbai2001
2Bajaj General Insurance113Pune2001
3HDFC ERGO General Insurance146Mumbai2002
4Tata AIG General Insurance108Mumbai2001
5SBI General Insurance144Mumbai2009
6IFFCO-Tokio General Insurance106Gurugram2000
7IndusInd General Insurance103Mumbai2000
8Cholamandalam MS General Insurance123Chennai2001
9Generali Central Insurance132Mumbai2006
10Royal Sundaram General Insurance102Chennai2000
11Shriram General Insurance137Jaipur2006
12Universal Sompo General Insurance134Mumbai2007
13Magma General Insurance149Mumbai2009
14Liberty General Insurance150Mumbai2010
15Raheja QBE General Insurance141Mumbai2007
16Acko General Insurance157Mumbai2016
17Go Digit General Insurance158Bengaluru2017
18Navi General Insurance155Bengaluru2016
19Zuno General Insurance159Mumbai2016
20Zurich Kotak General Insurance152Mumbai2015
21Kshema General Insurance162Hyderabad2018
22Kiwi General Insurance171Bengaluru2026

Five of these names changed in the last five years. Bajaj Allianz General became Bajaj General, Future Generali became Generali Central Insurance, Kotak Mahindra General became Zurich Kotak General after Zurich acquired a majority stake, Edelweiss General became Zuno, and Magma HDI became Magma General. The renamed insurers table further down maps each one.

Kshema General, licensed in 2023, is the first private insurer set up with a primary focus on crop and agricultural risk. It holds a general insurance licence rather than a specialised one, which several published lists get wrong.

Kiwi General Insurance Limited has been issued IRDAI registration recently and may not be covered by most published lists of insurers. The company is focused on technology-led insurance built on AI and new-age systems.

Full guide to general insurance companies in India →

Specialised Insurance Companies

Two government-owned insurers hold restricted specialised licences that limit them to a single class of business. Neither appears on IRDAI’s main general insurance register, and neither sells cover to retail buyers, which is why this page counts them separately from the 26.

Company IRDAI Reg. No. Specialisation Year of Registration
Agriculture Insurance Company of India 126 Crop and agricultural insurance 2002
ECGC Ltd 124 Export credit insurance 2002

Agriculture Insurance Company implements government crop insurance schemes for farmers. ECGC insures Indian exporters against the risk of an overseas buyer failing to pay.

Standalone Health Insurance Companies in India

A standalone health insurance company is an insurer that IRDAI registers to transact health insurance business exclusively. India has seven, and none of them can sell motor, home or fire cover the way a general insurer can.

#CompanyIRDAI Reg. No.HeadquartersYear of Registration
1Star Health and Allied Insurance129Chennai2006
2Care Health Insurance148Gurugram2012
3Niva Bupa Health Insurance145New Delhi2010
4Aditya Birla Health Insurance153Mumbai2015
5ManipalCigna Health Insurance151Mumbai2013
6Galaxy Health Insurance167Chennai2024
7Narayana Health Insurance166Bengaluru2023
8Prudential HCL Health Insurance Limited172Mumbai2026

Standalone health insurers may also sell personal accident and travel cover because both fall inside the health licence class. Galaxy Health and Narayana Health both received licences in 2023 and Prudential HCL Health Insurance Limited in 2026, making them the newest entrants. Two of the eight have traded under different names: Niva Bupa was Max Bupa until 2021, and Care Health was Religare Health Insurance.

Health cover is not limited to these eight companies. Every general insurer listed above is also permitted to sell health policies, which is why anyone comparing plans encounters far more than eight brands. Counting both groups, around 33 companies can sell you a health policy in India.

However, not all insurers listed in the general insurers’ list sell health insurance. Kiwi General Insurance, for instance, only offers car and two-wheeler insurance, as of August, 2026. They are yet to announce health policies.

Health insurance companies in India compared →

Reinsurance Companies in India

A reinsurer is a company that insures other insurers, taking on part of the risk they underwrite so that a single large loss does not threaten their solvency. India has three domestic reinsurers, and until 2025 it had only one.

Company IRDAI Reg. No. Sector Year of Registration
General Insurance Corporation of India (GIC Re) 112 Government 2001
Valueattics Reinsurance 168 Private 2025
Allianz Jio Reinsurance Limited 170 Public 2026

IRDAI granted Valueattics Reinsurance the first private-sector reinsurance licence in March 2025, ending the monopoly GIC Re had held in domestic reinsurance since 1972. Valueattics is backed by Prem Watsa’s Fairfax group and Kamesh Goyal. Allianz Jio Reinsurance Limited received its license a year after Valueattics Reinsurance and commenced operations right away.

Several foreign reinsurers, including Munich Re, Swiss Re, SCOR, Hannover Re and Lloyd’s India, also operate in India through registered branch offices. Those branches are not Indian companies, so they do not appear on the domestic register or in the count of 63 on this page.

Renamed, Merged and Exited Insurers

Multiple insurers in India have changed their names or opted for mergers in the last six years. Old lists and articles still display discontinued names. The table here lists all discontinued names and maps them to the current name the respective entity holds. This updated table will help you identify a company named on an old policy document or on an outdated comparison page.

Former nameCurrent entityWhat happenedYear of Registration
Reliance Nippon Life InsuranceIndusInd Nippon Life InsuranceRenamed after the parent entity of IndusInd Bank acquired Reliance Capital 2002
Bajaj Allianz Life InsuranceBajaj Life InsuranceRenamed after Allianz SE sold its stake to Bajaj Group2025
Bajaj Allianz General InsuranceBajaj General InsuranceRenamed after the same transaction2025
Future Generali India Life InsuranceGenerali Central Life InsuranceRenamed after ownership restructuring2025
Future Generali India InsuranceGenerali Central InsuranceRenamed after ownership restructuring2025
Max Life InsuranceAxis Max Life InsuranceRenamed after Axis Bank raised its stake2024
Aegon Life InsuranceBandhan Life InsuranceAcquired by Bandhan Financial Holdings and renamed2024
Exide Life InsuranceHDFC Life InsuranceMerged into HDFC Life. No longer a separate insurer2022
IDBI Federal Life InsuranceAgeas Federal Life InsuranceRenamed after Ageas raised its stake2020
Edelweiss Tokio Life InsuranceEdelweiss Life InsuranceRenamed after Tokio Marine exited2024
Max Bupa Health InsuranceNiva Bupa Health InsuranceRenamed after True North acquired Max’s stake2021
Religare Health InsuranceCare Health InsuranceRenamed2020
Apollo Munich Health InsuranceHDFC ERGO General InsuranceAcquired and merged2020
Bharti AXA General InsuranceICICI Lombard General InsuranceMerged into ICICI Lombard2021
Kotak Mahindra General InsuranceZurich Kotak General InsuranceRenamed after Zurich acquired a majority stake2024
Edelweiss General InsuranceZuno General InsuranceRebranded2023
Magma HDI General InsuranceMagma General InsuranceRenamed after HDI Global exited2025
Sahara India Life InsuranceSBI Life InsuranceIRDAI directed transfer of policy liabilities2023

If you hold a policy issued under a former name, the policy remains valid, and the successor company is legally bound to honour it on its original terms. Contact the current entity using the policy number printed on your original document.

Public vs Private Insurance Companies in India

Public and private insurers in India are regulated identically, hold the same minimum solvency requirement, and are equally bound to honour a valid claim. The practical differences appear in branch reach, servicing speed and product range rather than in financial safety.

ParameterPublic sector insurersPrivate insurers
OwnershipGovernment of IndiaIndian and foreign private capital
Number of companies657
Branch reachDeepest, including tier-3 towns and rural districtsConcentrated in metros and tier-1 and tier-2 cities
Digital servicingImproving, generally slowerStronger apps, instant policy issue, faster onboarding
Claim turnaroundGenerally slower, more documentationGenerally faster, wider cashless networks
Premium pricingOften lower on basic coverWider range, more risk-based pricing
Product innovationConservativeFaster launches, more riders and niche covers
Minimum solvency ratio1.50, set by IRDAI1.50, set by IRDAI
Policyholder protectionIdentical under IRDAI rulesIdentical under IRDAI rules

Verdict:

Choose a public sector insurer if branch access in a smaller town matters to you, or if you prefer government ownership. Choose a private insurer if you want faster digital servicing, quicker claim settlement and a wider product range. Both are safe, because IRDAI’s solvency and policyholder protection rules apply equally to every registered insurer.

Important Reminder:

One common misconception is that government ownership of an insurer equals a government guarantee on your payout. That’s not true. LIC and the four public sector general insurers are majority government-owned, which shapes their capital position and branch network. However, it does not add a sovereign guarantee behind an individual policy.

How to Check if an Insurance Company is Registered with IRDAI

Verify an insurer’s registration before you pay any premium, because only a registered company can legally issue an insurance policy in India. The check takes under two minutes.

  1. Open the IRDAI Register. Go to irdai.gov.in and open the register for the relevant class: life insurers, general insurers, health insurers or reinsurers.
  2. Match the Full Legal Name. Compare the name on the register against the name on your proposal form, not the brand name in the advertisement. Several insurers market under a short brand that differs from the registered entity.
  3. Check the Registration Number. Every registered insurer has an IRDAI registration number that must appear on its policy documents and in its website footer. Match it against the register.
  4. Verify the Intermediary Separately. If you are buying through an agent, broker or web aggregator, check their licence on the IRDAI intermediary register. An intermediary licence is separate from an insurer registration, and one does not imply the other.

Treat any entity that cannot produce an IRDAI registration number as unregistered, however established the brand appears.

How to Choose an Insurance Company in India

The IRDAI register tells you which companies are licensed. Three published measures tell you which of them is worth your premium, and all three are available free from IRDAI rather than from the insurer.

  • Claim Settlement Ratio. The claim settlement ratio is the percentage of claims a life insurer settled against the claims it received in a financial year. Read it alongside claim volume, because a high ratio on a very small claim book carries less evidence than the same ratio on a large one.
  • Solvency Ratio. The solvency ratio measures an insurer’s available capital against the minimum IRDAI requires it to hold. IRDAI mandates a minimum of 1.50 for every registered insurer, so any company sitting at or near that floor deserves a closer look.
  • Grievance Data. IRDAI publishes complaint counts by insurer. A rising complaint rate relative to policy count predicts servicing friction more reliably than any advertising campaign, and it is the measure insurers feature least.

General and health insurers are judged on a different metric. Incurred claim ratio is the measure for non-life insurers and not claim settlement ratio. Moreover, a higher figure is not automatically better. The general insurance companies page explains why.

Beyond the numbers, check network reach for the specific cover you are buying: cashless hospitals for health, cashless garages for motor, and branch presence in your own city for anything that may need in-person servicing.

Life Insurance vs General Insurance: What is the Difference

Life insurance covers a person’s life and pays a fixed sum on death or maturity. General insurance covers assets and liabilities and reimburses the actual loss suffered. The two are licensed, regulated and measured as separate businesses, which is why no single company holds both licences.

FactorLife insuranceGeneral insurance
What is coveredA person’s lifeAssets, health, liabilities
Payout basisFixed sum assured, agreed in advanceActual loss suffered, capped at the sum insured
Contract typeLong-term contractContract of indemnity
Typical tenure10 to 40 years1 to 3 years, renewable
Premium paymentRegular, over the policy termUsually a single annual premium
Investment elementPresent in ULIPs, endowment and money-back plansAbsent
Performance metricClaim settlement ratioIncurred claim ratio
Tax deduction
  • Section 80C on premium of up to ₹1.5 lakhs (if old regime selected)
  • Section 10(10D) on payout

Section 80D on health insurance premium (if old regime selected)

  • Premium up to ₹25,000 for self, spouse, and dependent children
  • Premium up to ₹50,000 for parents
  • Preventive health check-up up to ₹5,000

Verdict:

Buy life insurance to replace your income for the people who depend on it, and general insurance to protect the assets and health risks you could not pay for out of savings. Most households need both, because neither substitutes for the other.

Recent Changes to India's Insurance Sector

India’s insurer list and its operating rules changed materially in the last two years. These developments are what make older articles on this topic unreliable.

  • FDI cap raised to 100 per cent. The Union Budget 2025 lifted the foreign direct investment ceiling in Indian insurance companies from 74 per cent to 100 per cent. 
  • First private reinsurer licensed. IRDAI granted Valueattics Reinsurance a licence in March 2025, ending GIC Re’s domestic monopoly of 53 years. 
  • Allianz exited its Bajaj joint ventures. Bajaj Group acquired Allianz SE’s 23% stake in both the life and general ventures for approximately 2.1 billion euros on Jan 06, 2026, after which both companies dropped Allianz from their names. 
  • Future Generali became Generali Central. Both the life and general entities were renamed following ownership restructuring on Aug 4, 2025. 
  • GST exemption on health premiums. Individual and family health insurance premiums were exempted from GST with effect from September 2025. 
  • Edelweiss rebranding. Edelweiss Tokio Life Insurance was rebranded as Edelweiss Life Insurance in June 2024, to underline the company’s focus on simplicity, innovation, and a new-age approach to insurance.
  • Two new standalone health insurers. Galaxy Health and Narayana Health began operations after receiving licences in 2023.

Frequently Asked Questions

As of 2026, there are 63 IRDAI-registered insurance companies in India. This list includes 26 life insurers, 26 general insurers, 8 standalone health insurers and 3 reinsurers. There are also 2 specialised insurers, Agriculture Insurance Company and ECGC. They hold restricted licences and are counted separately here. The details on the register change when IRDAI grants new licences or when insurers merge.

Six government-owned insurance companies operate in India, as per the IRDAI register. LIC in life insurance, four general insurers (New India Assurance, United India, Oriental Insurance and National Insurance), and one reinsurer, GIC Re, are included in the list. The remaining two are government-owned specialised insurers with restricted licenses, Agriculture Insurance Company and ECGC. The rest of the insurance companies are private.

The oldest insurance company in India is National Insurance Company. It was founded in Kolkata in 1906. It is still operating.  The oldest life insurance company is LIC. It was established in 1956 following the nationalisation of the 245 private life insurers. That said, the first life insurance company was Oriental Life Insurance Company. It started operations in 1818 in Kolkata, but no longer exists.

A standalone health insurance company is an insurer that IRDAI registers to transact health insurance business exclusively. India has seven, including Star Health, Care Health and Niva Bupa. They may also sell personal accident and travel cover, but they cannot sell motor, home or fire insurance the way a general insurer can.

LIC is a government company. The Government of India remains the majority shareholder following LIC’s 2022 initial public offering, which listed a minority stake on Indian stock exchanges. LIC is the only public sector life insurer in India. Majority government shareholding is not the same as a government guarantee on individual policy payouts.

Foreign insurance companies can operate in India through an Indian-registered subsidiary or joint venture, and foreign reinsurers can operate through registered branch offices. The Union Budget 2025 raised the foreign direct investment ceiling in Indian insurers from 74 per cent to 100 per cent. A foreign insurer still cannot sell policies in India without an IRDAI registration.

Claim settlement ratios change every year, and IRDAI publishes them annually in its Annual Report and Statistical Handbook. Compare the ratio alongside the number of claims an insurer handled, because a very small claim book can produce a flattering percentage. Life insurers are measured on claim settlement ratio and general insurers on incurred claim ratio.

Your policy remains valid if your insurer merges with another company. IRDAI approves every merger, and the acquiring company assumes all policy liabilities, so the successor is legally bound to honour existing contracts on their original terms. Contact the successor company using the policy number printed on your original document.

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