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Life Insurance Council data shows that HDFC Life, LIC and Tata AIA Life have added the highest number of life insurance agents in April-Sept 2024.
HDFC Life tops the list by adding 43,800 agents between April and September 2024.
The largest insurer, LIC, occupies the second spot by adding 24,900 individuals in its agent count. Tata AIA Life is third on the list with addition of 18, 700 new agents.
Further, SBI Life and Max Life take the next two spots by adding 18,000 and 15,300 new agents, respectively.
Among other players in the top 10 in terms of new agent addition are Bajaj Allianz, Reliance Nippon, PNB Metlife, Bharti and ICICI Prudential.
Overall, the life insurance industry added 1.33 lakh new agents in the first six months of FY 2025. The total number of life insurance agents has increased from 28.95 lakh in March 2024 to 30.28 lakh in September 2024 indicating a 4.6% increase.
Of the total new agents, private insurers added 1.08 lakh agents in April – Sept 2024.
Let us look at the table to know more:
|
Life Insurer |
No. of Agents (September 2024) |
No. of Agents (March 2024) |
Change |
|
HDFC |
258103 |
214275 |
43828 |
|
LIC |
1439658 |
1414743 |
24915 |
|
TATA AIA |
136375 |
117656 |
18719 |
|
SBI |
264058 |
246078 |
17980 |
|
Max Life |
117998 |
102693 |
15305 |
|
Bajaj Allianz |
159122 |
150841 |
8281 |
|
Reliance Nippon |
66532 |
61036 |
5496 |
|
PNB Metlife |
32930 |
28172 |
4758 |
|
Bharti Axa |
56320 |
52942 |
3378 |
|
ICICI Prudential |
211498 |
209521 |
1977 |
|
Star Union Dai-Ichi |
2532 |
1540 |
992 |
|
Pramerica |
17452 |
16704 |
748 |
|
AGEAS Federal |
5809 |
5444 |
365 |
|
GoDigit |
42 |
14 |
28 |
|
CreditAccess |
0 |
0 |
0 |
|
Exide |
0 |
0 |
0 |
|
Sahara India |
0 |
0 |
0 |
|
Shriram |
3002 |
3003 |
-1 |
|
Bandhan |
171 |
172 |
-1 |
|
ACKO |
0 |
2 |
-2 |
|
Future Generali |
9677 |
9718 |
-41 |
|
IndiaFirst |
1594 |
1678 |
-84 |
|
Canara HSBC |
25 |
126 |
-101 |
|
Aviva Life Insurance Company Limited |
2816 |
2921 |
-105 |
|
Edelweiss Tokyo |
75761 |
75904 |
-143 |
|
Aditya Birla Sun Life |
59938 |
60613 |
-675 |
|
Kotak Mahindra |
106149 |
119016 |
-12867 |
|
Private Total |
1587904 |
1480069 |
107835 |
|
Grand Total |
3027562 |
2894812 |
132750 |
In terms of the total number of agents, LIC is the leader with 14.40 lakh agents in September 2024. Private life insurers, SBI Life and HDFC Life are next with agent count of 2.64 lakh and 2.58 lakh agents, respectively.
ICICI Prudential and Bajaj Allianz complete the top 5 with 2.11 lakh and 1.59 lakh agents, respectively.
Other life insurers who have a healthy agency count include Tata AIA, Max Life, Kotak Mahindra, Edelweiss Tokyo and Reliance Nippon.
Let us look at the table to know more.
|
Life Insurer |
No. of Agents (September 2024) |
|
LIC |
1439658 |
|
SBI |
264058 |
|
HDFC |
258103 |
|
ICICI Prudential |
211498 |
|
Bajaj Allianz |
159122 |
|
TATA AIA |
136375 |
|
Max Life |
117998 |
|
Kotak Mahindra |
106149 |
|
Edelweiss Tokyo |
75761 |
|
Reliance Nippon |
66532 |
|
Aditya Birla Sun Life |
59938 |
|
Bharti Axa |
56320 |
|
PNB Metlife |
32930 |
|
Pramerica |
17452 |
|
Future Generali |
9677 |
|
AGEAS Federal |
5809 |
|
Shriram |
3002 |
|
Aviva Life Insurance Company Limited |
2816 |
|
Star Union Dai-Ichi |
2532 |
|
IndiaFirst |
1594 |
|
Bandhan |
171 |
|
GoDigit |
42 |
|
Canara HSBC |
25 |
|
Private Total |
1587904 |
|
Grand Total |
3027562 |