Life insurance is a crucial aspect of financial planning, offering protection and security to individuals and their families in times of need. In India, the life insurance sector has witnessed significant growth, with several companies emerging as leaders in the industry. Here, we delve into the top 10 life insurance companies in India, highlighting their contributions to the country’s insurance landscape.
Insurance companies are financial institutions that offer protection against financial losses to individuals and organizations in exchange for premium payments. They assess risks and provide policies tailored to specific needs, covering various aspects such as life, health, property, and automobiles. Insurance companies play a crucial role in mitigating uncertainties and promoting financial security for their policyholders.
India’s life insurance sector is anchored by giants such as Life Insurance Corporation of India (LIC), offering a comprehensive range of plans. Private players like HDFC Life, SBI Life, and ICICI Prudential contribute to the industry’s growth with innovative products and customer-centric services. These companies, along with Max Life, Bajaj Allianz, and others, continue to shape the landscape of life insurance, providing financial security to millions across the nation.
The Life Insurance Corporation of India (LIC) remains the country’s largest life insurance company in 2025. Known for its wide range of policies, LIC offers plans such as term, endowment, money-back, pension, child, senior citizen, unit-linked, rural, and health policies. Some of its plans provide coverage up to 99 years, offering survival, maturity, and death benefits. With its strong presence and trusted services, LIC continues to be India’s leading provider of life insurance.
Life Insurance Corporation of India (LIC), with the market capitalization of Rs. 5,40,660.80 crore, holds the title of the biggest life insurance company in India, followed by Bajaj Finance Ltd., SBI Life Insurance Company, and HDFC Life Insurance Company Ltd.
Here is the list of top-10 largest life insurance companies in India by 2025:
| LARGEST LIFE INSURANCE COMPANIES IN INDIA 2025 | ||||
| Rank | Company | Market Cap. (Rs. in crore) | Close Price (Rs.) | PE Ratio (%)
|
| 1. | Life Insurance Corporation of India | 5,40,660.80 | 854.80 | 15.02 |
| 2. | Bajaj Finance Ltd. | 2,59,803.78 | 1,632.40 | 40.49 |
| 3. | SBI Life Insurance Company Ltd. | 1,43,182.36 | 1,430.05 | 83.22 |
| 4. | HDFC Life Insurance Company Ltd. | 1,32,114.11 | 614.45 | 96.56 |
| 5. | ICICI Prudential Life Insurance Company Ltd. | 75,199.70 | 522.20 | 92.44 |
| 6. | ICICI Lombard General Insurance Company Ltd. | 67,580.82 | 1,372.80 | 39.09 |
| 7. | General Insurance Corporation of India | 54,596.93 | 311.20 | 7.90 |
| 8. | New India Assurance Company Ltd. | 35,753.36 | 216.95 | 34.12 |
| 9. | Star Health and Allied Insurance Company Ltd. | 32,476.37 | 555.05 | 52.50 |
| 10. | Max Financial Services Ltd. | 32,014.57 | 927.65 | 84.59 |
Market Capitalization: Rs. 5,40,660.80 crore
LIC, a pioneer in India’s insurance sector for over a century, dominates with the highest market share in 2024. With a diverse product range and robust financial indicators, it boasts the country’s highest market capitalization at Rs. 5,40,660.80 cr. Its PE ratio of 15.02 and impressive 1-year investment return of 20.53% reflect its profitability and efficiency, with a remarkable return on equity of 124.54%.
Market Capitalization: Rs. 2,59,803.78 crore
As India’s second-largest life insurance company, Bajaj Finserv serves as the core investment and holding entity for diverse financial services within the Bajaj Group. With a current market cap of Rs. 2,59,803.78 cr, it boasts the highest earnings CAGR of 20.19% over the last 5 years among the top 10 insurance companies in India. Its current PE ratio stands at 40.49, reflecting strong market performance and growth potential.
Market Capitalization: Rs. 1,43,182.36 crore
As India’s third-largest life insurance company, SBI Life, established in 2000 and listed on both NSE and BSE, has surpassed HDFC Life in market share. With an authorized share capital of Rs. 20 bn. and a paid-up capital of Rs. 10 bn., it commands a current market cap of Rs. 1,43,182.36 cr. Its PE ratio stands at 83.2, while the 1–year investment return is 9.93%, reflecting steady growth and market performance.
Life Insurance Corporation of India (LIC), with the market capitalization of Rs. 5,40,660.80 crore, holds the title of the biggest life insurance company in India.
As India's second-largest life insurance company, Bajaj Finserv serves as the core investment and holding entity for diverse financial services within the Bajaj Group.
Life Insurance Corporation (LIC) India Company, established in 1956, one of the largest insurance companies in India and is a state-owned insurance group and investment firm that offers a range of insurance products to its customers.
UnitedHealth Group has retained its number-one slot in AM Best's ranking of the world's 25 largest insurance companies for the ninth straight year, according to the credit rating agency.
The top-5 largest life insurance companies in India are: Life Insurance Corporation of India, Bajaj Finserv, SBI Life Insurance Company Ltd., HDFC Life Insurance Company Ltd., and ICICI Prudential Life Insurance Company Ltd.
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