General Insurance Companies in India

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01.Acko General Insurance Limited

Acko General Insurance limited started in 2016 and is the fastest growing insurance company in the country with over 50 million customers. Its joint venture partners include Catamaran, Accel Partners and others. Acko has partnered with major tech companies such as Amazon and Ola.

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02.Aditya Birla Health Insurance Company Limited

Aditya Birla Health Insurance Company Limited is a subsidiary of Aditya Birla Capital Limited. Aditya Birla Health Insurance Company was incorporated in 2015.

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03.HDFC EGRO Health Insurance Company Limited

HDFC EGRO Health Insurance Company was previously known as Apollo Munich Health Insurance Company Limited. It is a standalone health insurance provider. The company has received the Outlook Money: Gold Award Health Insurance provider of the year 2018 for being the best insurance provider in the private sector.

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04.Bajaj Allianz General Insurance Company

Bajaj Allianz General Insurance Company Limited was incorporated in the year 2001. The company is a joint venture between Bajaj Finserv Limited and Allianz SE holding 76% and 26% shares respectively.

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05.Bharati AXA General Insurance Company Limited

Formed in August 2008,Bharati AXA General Insurance Company is a joint venture of Bharti Enterprises and AXA in the ratio of 51% and 49% shares respectively..

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06.Cholamandalam MS General Insurance Company Limited

Cholamandalam Ms General Insurance is one of the leading insurance brands in the country. The company was established in 2005 when Murugappa group and Mitsui Sumitomo Insurance Company of Japan joined hands. During the financial year 2019, the company reported a net profit of INR 178.9 crore on a GDP of INR 4,428.2 crore. 

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07.Manipal Cigna Health Insurance Company Limited

Manipal Cigna Health Insurance Company Limited is a joint venture between Manipal Group and Cigna Corporation which came into existence in 2014. It has over 6500 network hospitals and over 20,000 agents all over the country.

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08.Navi General Insurance Company Limited

Navi General Insurance formerly known as DHFL General Insurance Limited was previously promoted by Wadhawan Global Capital and was formed in 1984. Currently, the company is promoted by Sanchin Bansal, a technology entrepreneur known co-founding Flipkart.

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09.Edelweiss General Insurance Company Limited

Edelweiss General Insurance is an Indian Non-government Company and a member of the Edelweiss Group which is a home-grown multinational corporation.

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10.Future Generali India Insurance Company Limited

Future Generali India Insurance Company was founded in the year 2006 as a joint venture between Future Group and Generali Group. The asset under management of the company as on 31st March, 2019 was worth INR 3,629 crores.

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11.Go Digit General Insurance Limited

Owned by Fairfax Group, Go Digit General Insurance Limited has been awarded as the Asia’s General Insurance Company of the year in 2019. It was founded in the year 2016 with headquarter located in Bengaluru, Karnataka. It is a non-life general insurance company currently having a customer base of over 50 Lakh customers. 

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12.HDFC EGRO General Insurance Company Limited

HDFC EGRO General Insurance Company Limited was formed as a joined venture between HDFC Limited and EGRO International AG. It has over 120 branches in 106 cities all across the country with over 3000 employees in India..

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13.ICICI Lombard General Insurance Company Limited

ICICI Lombard General Insurance Company Limited is one of the leading private sector general insurance companies in India. The company was founded in 2001 and owned by ICICI Bank Limited.

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14.IFFCO Tokio General Insurance Company Limited

IFFCO Tokio General Insurance Company Limited is a joint venture between Indian Farmers Fertiliser Corporative and Tokio Marine Group founded in 2001, it is now one of the most popular insurance companies in India. The company has won Asia’s Top Most Influencer Insurance Leaders Award in 2020.

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15.Kotak Mahindra General Insurance Company Limited

Incorporated in December 2014, Kotak Mahindra General Insurance Company Limited is 100% subsidiary of Kotak Mahindra Bank Limited. 

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16.Liberty General Insurance Limited

Liberty General Insurance Limited is a joint venture between Liberty Citystate holdings PTE Limited and Liberty Industries Limited. It was formed in 2013.

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17.Magma HDI General Insurance Company Limited

Magma HDI General Insurance is a privately owned company held by Magma Fincorp Limited and HDI Global SE from Germany. It has over 135 offices all over India with customer base of 24 Lakhs.

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18.Max Bupa Health Insurance Company Limited

Max Bupa is a standalone health insurance company which was formed in 2010 when two reputed companies- Max India Limited and Bupa joined hands. From December 2019 onwards, Max Bupa Limited has exited its shares and is transferred to Fettle tone LLP.

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19.National Insurance Company Limited

National Insurance Company Limited is owned by the Government of India. It is one of the four public sector companies in the general insurance segment in India. It was incorporated in Kolkata in 1972. It has over 1730 offices all over India and also has an office in Nepal. It is India’s oldest general insurance company.

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20.Raheja QBE General Insurance Company Limited

Raheja QBE General Insurance is a joint venture between Raheja Group and QBE Insurance with 74% and 26% shareholding respectively.

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21.Reliance General Insurance Company Limited

Reliance General Insurance Company Limited Founded in 2000, the company is a 100% subsidiary of Reliance Capital, a part of Anil Dhirubhai Ambani Group. The company has received ‘’ET Best Brands’’ award at ET Edge Award 2019.

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22.Religare Health Insurance Company Limited

Launched in July, Religare Health Insurance Company is 100% subsidiary of Religare Enterprises Limited. It has been awarded as the Best Health Insurance Company of the year 2019..

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23.Royal Sundaram General Insurance Company Limited

Royal Sundaram General Insurance Company Limited is a joint venture between Sundaram Finance, Ageas Insurance International N.V and other shareholders. The company has over 4.50 million customers, 2000+ employees and 156 branches across India.

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24.SBI General Insurance Company Limited

SBI General Insurance Company Limited is a collaboration of State Bank of India and Insurance Australia Group (IAG) which commenced its operations in 2010. The company has over 6.8 customers served till date. It has over 6000 network hospitals.

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25.Shriram General Insurance Company Limited

Established in 2008, Shriram General Insurance Company Limited is a 100% subsidiary of Shriram Capital Limited.

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26.Star Health and Allied Insurance Company Limited

Star Health and Allied Insurance Company limited was formed as a joint venture of ICICI Ventures, Oman Insurance Company, Sequoia Capital, Alpha TC holdings and Tata Capital Growth Fund in the year 2006.

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27.Tata AIG General Insurance Company Limited

Tata AIG General Insurance Company Limited is a collaboration of Tata Group and American International Group (AIG). The company commenced its operations in January 2001.

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28.The New India Assurance Company Limited

Founded by Sir Dorabji Tata in 1919, The New India Assurance Company Limited is a 100% Government owned company headquartered in Mumbai, India. It is the largest public sector general insurance company operating in 128 countries.

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29.The Oriental Insurance Company Limited

Oriental Insurance Company Limited was incorporated in 1947 as wholly owned subsidiary of Oriental Government Security Life Assurance Company Limited but now it is owned by the Central Government of India. The company has its head office at New Delhi with 29 regional offices and nearly 1800+ operating offices in various cities in India.

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30.United India Insurance Company Limited

Established in 1938, United India Insurance Company Limited is one of the oldest companies in the insurance sector in India. The company has over 14000 employees spread across 2276 offices providing insurance to 1.74 crore customers.

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31.Universal Sompo General Insurance Company Limited

Universal Sompo General Insurance Company Limited is a privately held company owned collectively by Indian Overseas Bank, Allahabad Bank, Dabur Investments, Karnataka Bank Limited and Sompo Japan Nipponkoa Insurance Incorporation.

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Specialized general insurance companies

The above-mentioned companies offer general insurance solutions for retail as well as commercial clients. Besides these companies, there are two specialized general insurance companies which deal in only specialized general insurance products.

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1. Agriculture Insurance Company of India Limited

The Agriculture Insurance Company of India Limited is a Government owned general insurance company which deals only in agriculture insurance policies. The policies are designed to offer financial security to farmers and are specialised as per the needs of specific farmers.

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2. Export Credit Guarantee Corporation of India Limited

ECGC Limited is also owned by the Government of India. The company offers specialised general insurance policies to protect the credit risks involved in the export of goods. The policies of the company are designed to cover export credit risks faced by exporters, banks, MSMEs and other financial institutions.