Life Insurance Company Marketshare

The Private Life Insurance Companies have put a fantastic effort to break into the monopoly of LIC India. LIC controlled 100% of the market in 2000 and since then its market share has slipped to less than 50% and at the end of October-08, it was at 37.1%. Private Insurance Companies control 62.9% of the Life Insurance market in India.

Top 5 Private Life Insurance companies Marketshare at the end of Oct-08 is as follows,

  • ICICI Prudential – 14.1%
  • SBI Life 9.1%
  • Bajaj Allianz – 8.5%
  • Reliance Life – 5.6%
  • HDFC Standard – 5.5%

The following chart [courtesy IRDA] shows the market share of the rest of life insurance companies operating in India.
Life Insurance Companies market share in India