Top 10 General Insurance Companies in India
ICICI Lombard motor insurance
ICICI Lombard General insurance company limited is one of the best Leading private sector general insurance companies in India. This is the one of the best vehicle insurance companies in India, this company which also offers vehicle insurance has the Gross Written Premium, of Rs. 109.60 billion in 2017 financial Year. ICICI Lombard has 249 branches across the India, You can get Vehicle insurance from all the branches .
ICICI Lombard General insurance company Established in 2001, this is the join venture between ICICI bank (India’s second largest insurance company and Fairfax Financial holding limited based in Toronto. This join venture has 64/36 stake, ICICI BANK has 64% stake and the other side Fairfax Financial hold 36% of stake. This join venture is one of the best Vehicle Insurance companies in India.
TATA- AIG General insurance company limited
TATA-AIG ( American International group ) is an Indian general insurance company started operation on 22 January 2001 provides insurance to individuals and corporates , Tata group has 51% of stake and the AIG has 26 % of stake, this also consider a leading vehicle insurance companies in india.
Bajaj Allianz general insurance.
Bajaj- Allianz is a private general insurance company in India. This company is a join venture between Bajaj finserv and Allianz SE, a German financial service company. This company started in 2 may 2001 with the plan of general insurance and health insurance, during the first year of working this join venture op 36 office and hired more than 100 employee Bajaj Allianz Headquarter is located in Pune, this general insurance company has more than 3500 employee. In this join venture Bajaj has 74% stake and Allianz has 26% stake.
Bharti AXA Life Insurance
Bharti AXA started operations in India from August 2008. This general insurance company has 79 branches around the country which is managed by CEO and MD srinivasan. Bahrti AXA General insurance company is a joint venture between Bharti Enterprises and AXA Group ( an international insurance and asset management company operating out of France), this general insurance company Headquarter is located in Bangalore.
Oriental insurance company
Oriental insurance founded on 12 September 1947 as a government-owned non-life insurance company, it was completely owned subsidiary of oriental Government Security Life Assurance Company ltd. To execute its parent body’s general insurance operations. In 1956 when insurance business was nationalized, Oriental insurance became part of LIC till 1973, after 1973 this company became a subsidiary of general insurance corporation of India till 2003 when the company was de-linked from parent company and set-up as an independent insurance company in 2003, the union Government acquired all the shares of Oriental insurance Company Ltd from general insurance corporation of India.
National insurance company
National insurance company Limited is a state owned Genera insurance company in India, its pouch line is “Trusted since 1906” this general insurance company was established in 1906 and nationalized in1972, national insurance company’s Headquarter is located in Kolkata, this general insurance company also serves its service in Nepal. After the nationalization of NIC, this company started operating as a subsidiary of general Insurance Company limited, inn April 2004 NIC signed an agreement with Nainital bank for distribution of its general insurance products through the bank’s branches in Utrakhand, Haryana and New Delhi. This General Insurance company has more than 16000 employee.
Sriram general insurance company
Shriram General insurance Co. is a joint venture between Shriram Capital Ltd. And Sanlam Limited sriram is licensed with IRDAI and preferred insurance partner of IRCTC. Shriram general insurance offers a wide range of general insurance solution including Motor , home , and more than are designed to fit every need , every situation.
8. Reliance General Insurance
Reliance General Insurance Established on 17 August 2000. IRDAI given license to Reliance general insurance to conduct General insurance in India on 23 October 2000. This company got promoted by Reliance Capital. Reliance General Insurance is a part of Reliance Group. This general insurance company saved GROSS WRITTEN PREMIUM for the year of 31 march 201, was at 4007 crores with a distribution of over 129 branches and more than 24500 intermediaries.
New India Assurance
New India Assurance co.ltd. is “ largest general insurance company of India on the basis of gross premium collection inclusive of foreign operations” it was founded by Sir Dorabji Tata in 1919 and it ws nationalized in 1973. Previously it was a subsidiary of the General Insurance Corporation Of India, later GIC became Re-Insurance company as per the IRDA Act 1999.
IFFCO-TOKIO General Insurance
This general insurance company is a joint venture between Indian farmers fertilizer cooperative(IFFCO) and Tokio marine and Nichido fire Group. IFFCO holds 51% state and TOKIO hold 49% stake, IFFCO-TOKIO general insurance founded on 8 September 2000 and with 65 business units. This general insurance company as a very strong network with 122 lateral Spread Centers and 255 Bima Kendra. In 2013-14 IFFCO-TOKIO wins the National Award for successfully implementing the Indian Government Labor Department’s RSBY.
List of Top 10
- 1 ICICI Lombard motor insurance
- 2 TATA- AIG General insurance company limited
- 3 Bajaj Allianz general insurance.
- 4 Bharti AXA Life Insurance
- 5 Oriental insurance company
- 6 National insurance company
- 7 Sriram general insurance company
- 8 8. Reliance General Insurance
- 9 New India Assurance
- 10 IFFCO-TOKIO General Insurance