It is India’s largest insurance corporation, as well as one of the largest insurance companies and a large investor. The government owns the entire LIC. It first appeared in 1956. The company’s headquarters are in Mumbai. It has 2048 branches and 101 divisional offices spread across India, employing 1 million agents.
Bajaj Allianz Insurance
It is a leading insurance company with a presence in over 70 countries. It has approximately 1200 branches across the country. It is related to traditional, child, and pension policy. Its headquarters are in Pune. The paid-up capital is approximately Rs 110 crores. It is a private insurer with a profit of Rs 180 crores. Its profit has increased from Rs 121 crores to Rs 121 crores after tax.
ICICI Prudential Life Insurance
It is a major insurance company with operations in over 70 countries. It has about 1200 branches spread across the country. It has something to do with traditional, child, and pension policy. Its headquarters are located in Pune. The paid-up capital is estimated to be around Rs 110 crores. It is a private insurer that makes Rs 180 crores in profit. Its profit after tax has increased from Rs 121 crores to Rs 121 crores.
SBI Life Insurance
SBI is a joint venture between SBI and BNP Paribas that has been rapidly expanding since 2000. It has Rs 2000 crores in authorised capital and Rs 1000 crores in paid up capital. SBI life insurance’s most recent products are SBI smart performer and Unit plus super. Aside from these, it offers protection products, pension products, and term insurance.
Reliance Life Insurance
It is a leading financial company that is ranked among the top three financial sector banks. The equity share capital is approximately 26%. With a revenue of Rs 12,199 crore, it is one of the largest revenue insurers. In 2011, it ranked over 500 businesses. The insurance company offers four different plan categories: Young & Single, Just Married, Proud Parents, and Pre-retirement.