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Life Insurance Corporation of India, SBI Life Insurance and HDFC Life Insurance are the most profitable insurance companies, reveals an analysis of financial disclosures.
These companies rank the top three in the terms of profit before tax (PBT) as well as profit after tax (PAT).
Following them, Kotak Mahindra Life Insurance and ICICI Prudential Life Insurance reported the forth-highest and fifth-highest profits. Like-wise Tata AIA Life Insurance and Max Life Insurance finished sixth and seventh.
Bajaj Allianz Life Insurance, Shriram Life Insurance and Aditya Birla Sun Life Insurance are the next three companies who made it to the top-ten list.
In absolute terms, Life Insurance Corporation of India, Kotak Mahindra Life Insurance and Tata AIA Life Insurance recorded the highest year-on-year growth.
And in percentage terms, Shriram Life Insurance, Life Insurance Corporation of India and Canara HSBC Oriental Bank of Commerce Life Insurance reported the highest growth.
PBT Details
|
Name |
31-Mar-23 |
31-Mar-22 |
Change |
% Change |
|
Life Insurance Corporation of India |
36,457 |
4,067 |
32,390 |
796% |
|
SBI Life Insurance |
1,758 |
1,561 |
198 |
13% |
|
HDFC Life Insurance |
1,268 |
1,180 |
88 |
7% |
|
Kotak Mahindra Life Insurance |
1,090 |
462 |
629 |
136% |
|
ICICI Prudential Life Insurance |
897 |
791 |
106 |
13% |
|
Tata AIA Life Insurance |
543 |
90 |
453 |
506% |
|
Max Life Insurance |
505 |
417 |
88 |
21% |
|
Bajaj Allianz Life Insurance |
370 |
319 |
51 |
16% |
|
Shriram Life Insurance |
163 |
13 |
150 |
1156% |
|
Aditya Birla Sun Life Insurance |
154 |
141 |
13 |
9% |
|
AGEAS Federal Life Insurance |
126 |
104 |
21 |
21% |
|
PNB MetLife India Insurance |
123 |
-71 |
194 |
-273% |
|
Reliance Nippon Life Insurance |
108 |
65 |
43 |
65% |
|
Canara HSBC Oriental Bank of Commerce Life Insurance |
100 |
10 |
90 |
875% |
|
IndiaFirst Life Insurance |
76 |
-282 |
358 |
-127% |
|
Pramerica Life Insurance |
49 |
-4 |
53 |
-1339% |
|
Aegon Life Insurance |
-111 |
-88 |
-23 |
26% |
|
Aviva Life Insurance |
-118 |
-86 |
-33 |
38% |
|
Future Generali India Life Insurance |
-197 |
-184 |
-13 |
7% |
|
Edelweiss Tokio Life Insurance |
-198 |
-225 |
27 |
-12% |
|
Bharti AXA Life Insurance |
-203 |
-342 |
139 |
-41% |
|
Sahara India Life Insurance |
||||
|
Star Union Dai-ichi Life Insurance |
1. Figures in crore 2. Source: Company disclosures 3. Details of Sahara India Life Insurance and Star Union Dai-ichi Life Insurance were not available at the time of filing the story 4. Audited figures were not available for all companies
PAT Details
|
Name |
31-Mar-23 |
31-Mar-22 |
Change |
% Change |
|
Life Insurance Corporation of India |
36,397 |
4,043 |
32,354 |
800% |
|
SBI Life Insurance |
1,721 |
1,506 |
215 |
14% |
|
HDFC Life Insurance |
1,356 |
1,208 |
148 |
12% |
|
Kotak Mahindra Life Insurance |
1,053 |
425 |
628 |
148% |
|
ICICI Prudential Life Insurance |
811 |
754 |
57 |
7% |
|
Tata AIA Life Insurance |
506 |
71 |
435 |
615% |
|
Max Life Insurance |
435 |
387 |
49 |
13% |
|
Bajaj Allianz Life Insurance |
390 |
324 |
65 |
20% |
|
Shriram Life Insurance |
156 |
3 |
153 |
6031% |
|
Aditya Birla Sun Life Insurance |
138 |
127 |
12 |
9% |
|
AGEAS Federal Life Insurance |
114 |
94 |
20 |
21% |
|
PNB MetLife India Insurance |
112 |
-71 |
183 |
-258% |
|
Reliance Nippon Life Insurance |
108 |
65 |
43 |
65% |
|
Canara HSBC Oriental Bank of Commerce Life Insurance |
91 |
10 |
81 |
791% |
|
IndiaFirst Life Insurance |
76 |
-282 |
358 |
-127% |
|
Pramerica Life Insurance |
43 |
-5 |
48 |
-952% |
|
Aegon Life Insurance |
-111 |
-88 |
-23 |
26% |
|
Aviva Life Insurance |
-118 |
-86 |
-33 |
38% |
|
Future Generali India Life Insurance |
-197 |
-184 |
-13 |
7% |
|
Edelweiss Tokio Life Insurance |
-198 |
-225 |
27 |
-12% |
|
Bharti AXA Life Insurance |
-203 |
-342 |
139 |
-41% |
|
Sahara India Life Insurance |
||||
|
Star Union Dai-ichi Life Insurance |
1. Figures in crore 2. Source: Company disclosures 3. Details of Sahara India Life Insurance and Star Union Dai-ichi Life Insurance were not available at the time of filing the story 4. Audited figures were not available for all companies