Life and Non-Life Insurance companies in India – LIST of Insurance companies in India

India is a vast country with a 130 Crore population. Providing Life insurance or Health insurance cover to each and every one is not possible. Earlier there was only one life insurance company in India and that is Life Insurance Corporation of India.

During globalization, the Government of India opened doors to foreign insurance companies also to join in India. Many Indian companies from banking and finance collaborated with foreign companies and started Life and health Insurance companies.

LIC of India is a Government-owned Life Insurance company that was already very popular, become more reachable due to the awareness created by all other newcomers in the market.

The government of India constituted a governing body to regularise Insurance Industry. The insurance Regulatory Development Authority of India ( IRDAI )was formed and given the charge to give licenses to all kinds of insurance companies in India.

Today we have a number of Insurance companies in India.