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Life Insurance Market Appears Vibrant

The life insurance market grew from US$ 10.5 billion in FY02 to US$ 27.5 billion in
FY16
Over FY02FY16, life insurance premiums expanded at a CAGR of 7.5 per cent.
The life insurance industry has the potential to grow 2-2.5 times by 2020 in spite of
multiple challenges supported by long-term trends and fundamentals underlying
household savings.

Quality healthcare and Apollo have become synonymous in the Indian subcontinent, a fact
reiterated by global healthcare experts and international accreditation bodies. Committed to bring
world class health care within the reach of every individual, Apollo Hospitals Group has joined
hands with Munich Health, a world leader in the field of health i...

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Liberty Videocon General Insurance Company Ltd is a joint venture between the Videocon
Industries Ltd and Liberty Citystate holdings PTE Ltd, a group company of US based Liberty
Mutual Group, a leading global property and casualty group. With Liberty Mutual's 100 years of
supervision in the insurance industry globally, Liberty Videocon Gene...

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Kotak Mahindra Old Mutual Life Insurance Ltd is a 74:26 joint venture (JV) between Kotak
Mahindra Bank Ltd, its affiliates, and Old Mutual. Kotak Mahindra is one of India's leading
banking and financial services organizations, offering a wide range of financial services that
encompass every sphere of life. From commercial banking, to stock broking...

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Bharti AXA Life is a life insurance player that was started in 2006. The company brings together
strong financial expertise of the Paris-headquartered AXA Group and Bharti Enterprises - one of
the India's leading business groups with interests in telecom, agricultural business, financial
services, and retail. The joint venture (JV) has a 51 p...

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It's is a joint venture between Bajaj Finserv Ltd (recently demerged from Bajaj Auto Ltd) and
Allianz SE. Both enjoy a reputation of expertise, stability and strength. Bajaj Allianz received
the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on May
2, 2001 to conduct various businesses (including health insuran...

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Reliance Life Insurance Company (RLIC) is amongst the top five private sector life insurance
companies in terms of individual weighted received premium (WRP) and new business WRP.
The company has over 1 crore policy holders with a strong distribution network of over 900
branches with over 100,000 agents as of March 31, 2014. Reliance Life offers li...

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Max Life Insurance, one of the life insurers, is a joint venture (JV) between Max India Ltd and
Mitsui Sumitomo Insurance Co Ltd. Max India is an Indian multi-business corporate, while
Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, a general insurer. Max
Life Insurance offers comprehensive life insurance and retirement solutions fo...

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Future Generali is a joint venture (JV) between India's leading retailer Future Group and Italy-
based insurance major Generali. The company was incorporated in 2006 and brings together the
unique qualities of both the founding companies - local experience and knowledge with global
insurance expertise. Future Generali operates in both Life and Ge...

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Exide Life Insurance Company Ltd was formerly known as ING Vysya Life Insurance Company
Ltd. It commenced operations in 2001 and is headquartered in Bengaluru. The company is fully
owned by Exide Industries Ltd and is part of a 100-year-old brand heritage in India. The
company is profitable and serves over one million customers across India and man...

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The Life Insurance Company or LIC is an Indian state-owned insurance group and investment
company which was established with the passing of the Life Insurance Corporation Act on June
19, 1956 in the Parliament of India. It was formed from a merger of about 154 Indian insurance
companies, 16 non-Indian and 75 provident companies. Initially, in 19...

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Birla Sun Life Insurance Company Ltd(BSLI) is a joint venture (JV) formed in 2000, between
the Aditya Birla Group, a well-known Indian conglomerate and Sun Life Financial Inc, one of
the leading international financial services organisations from Canada. With experience of over a
decade, BSLI has contributed to the growth and development of the Ind...

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HDFC Life was founded in 2000. It is a joint venture (JV) between Housing Development
Finance Corporation (HDFC) and Standard Life plc of United Kingdom. HDFC Ltd has 72.37
per cent equity in the venture while Standard Life has 26 per cent of equity, with the rest lying
with others. HDFC Life has a product portfolio which comprises solutions for...

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ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier
financial powerhouse, and Prudential plc, a leading international financial services group
headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector
insurance companies to begin operations in December 2000 after receiving approv...

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Tata AIA Life Insurance Co Ltd (Tata AIA Life) is a joint venture (JV) company, formed by
Tata Sons and AIA Group Ltd (AIA). Tata AIA Life combines Tata's preeminent leadership
position in India and AIA's presence as the largest, independent listed pan-Asia life insurance
group in the world spanning 15 markets in AsiaPacific. Tata Sons holds a...

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SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Cardif. SBI
owns 74 per cent of the total capital and BNP Paribas Cardif the remaining 26 per cent. SBI Life
Insurance has an authorized capital of Rs 2,000 crores (US$ 332.96 million) and a paid up capital
of Rs 1,000 crores (US$ 166.56 million). SBI Life has a un...

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New India Assurance Co Ltd, today, is a 100 per cent Government owned multinational general
insurance company operating in 22 countries and headquartered at Mumbai, India. New India
Assurance global business crossed Rs 12,500 crore (US$ 2.01 billion). Founded by Sir Dorabji
Tata in 1919, it is the market leader in non-life business in India for m...

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Insurance India
Market share of major companies in terms of Gross Direct Premium collected (FY15)

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