10 BEST INSURANCE COMPANIES
Best insurance companies- Life Insurance is one thing that should be owned by one of the leading insurance companies. The need for insurance would be needed when a family member passes away, especially who was the breadwinner of the family. Most of the time, people just take it for granted on the subject of insurance. However Best insurance companies, it is important to know that, if you do not take one now, then you would be much better. Here given below Best insurance companies
1. LIC (Life Insurance Corporation of India)
LIC is the oldest and most trusted brand among the best life insurance companies in India. The company is a favored choice among millions of Indians for its best claim settlement ratio of over 98%.
Over a period of time, LIC has grown leaps and bounds and still continues to dominate. LIC has up to 2, 04, 04,281 policies. It is a Best insurance company
2. ICICI Prudential Life Insurance
ICICI Prudential life insurance is among the first private companies that began insurance by 2000 December. This is a joint venture between ICICI Bank and ICICI Prudential Life Insurance Company. The capital of ICICI Prudential Life insurance stands at RS 4,793 Crores on 31st March 2013. ICICI Prudential has sold up to 7,85,938 policies.
3. Reliance Life Insurance
The Reliance Life Insurance is a part of the Reliance Group and is a Reliance Capital Company. In terms of net worth, Reliance Capital Company is one of the leading private sector financial services of India and ranks among the top three in the private sector financial services. Reliance Life insurance has sold up to 6,98,109 policies
4. Bajaj Allianz Life Insurance
This is a joint venture between Bajaj Finserv Limited and Allianz SE. In the last four years, Bajaj Allianz made a profit of about Rs.180 Crores and made a margin of 100 Crores before tax, which is a remarkable growth. They have made a sale of 6, 40,483 policies.
5. Birla Sunlife Insurance
This is one of the leading insurance companies in India and is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a leading financial corporate service from Canada. They have made a sale of 5, 89,855 policies.
6. SBI Life Insurance
SBI Life Insurance is a joint venture between State Bank Of India and BNP Paribas Cardiff. Of the total capital, SBI own is 74% and BNP Paribas owns the remaining 26%. They have made sales of 4, 91,927 policies.
7. Max Life Insurance
Max Life Insurance is a joint venture between Max India Ltd and Mitsui Sumitomo Insurance Co. Ltd. Mitsui Sumitomo Insurance Co.Ltd is a member of MS & AD Insurance Group, which is one of the top general insurers in the world. They have a good number of customers and great policies. About 4.05,662 policies have been sold according to records.
8. HDFC Standard Life Insurance
This is one of the leading private insurance companies and an outcome of the joint ventures between Housing Development Finance Corporation Ltd. (HDFC), and Standard Life plc, a leading provider of financial services in the United Kingdom. In this venture, HDFC Ltd. holds 72.37% equity and Standard Life Ltd. holds about 26% equity. They have a sole around 3, 97,408 policies.
9. Tata AIA Life Insurance
A joint venture between Tata Group and American International Group, Inc. (AIG) is what leads to Tata AIG Life Insurance. Tata’s position in India and AIG’s global position in financial services has made this company a huge success. They have made a sale of 1,99,275 policies as per the study.
10. ING Vysya Life Insurance
ING Vysya Life Insurance Company Limited is owned by Exide Industries and is one of the most trusted companies in the world. The products of ING Vysya Life Insurance are distributed through Tied Agency, Alliances, and Banc Insurance.
These are India Best insurance companies.