List Of Insurance Companies In India: Establishment Date & Other Detail

List Of Insurance Companies In India: There are mainly three categories of Insurance Companies in India such as Life Insurance Company, Health Insurance Company and General Insurance Company. Insurance has a long history in India. Manu’s Manusmrithi, Yagnavalkya’s Dharmasastra, and Kautilya’s Arthasastra all make mention of it. The works discuss gathering resources that could be given again in the event of disasters like fires, floods, epidemics, and famine. This most likely served as the forerunner to contemporary insurance. In the form of marine trade loans and carriers’ contracts, ancient Indian history has retained the oldest indications of insurance. India’s insurance industry has developed over time with significant influence from other nations, notably England. In this article we will be discussing List of insurance companies in India.

List Of Insurance Companies In India

The future is very uncertain therefore it is very necessary in today’s time to take the insurance. There are many private and public sector companies which provides insurance cover and this is one of the field where government wants to hold its stake as it has a direct impact on the earnings of general public. The government can’t fully allow private players to dominate the insurance sector as it will lead to monopoly and unfair charges.

What is Insurance?

Insurance is a contract, represented by a policy, in which a policyholder receives financial protection or reimbursement against losses from an insurance company in which the loss is happened due to the cause insured. The company pools clients’ risks to make payments more affordable for the insured. Insurance policies are used to hedge against the risk of financial losses, both big and small, that may result from damage to the insured or their property, or from liability for damage or injury caused to a third party. As an individual you can compare the insurance policies offered by various insurance companies in India.

List Of Insurance Companies In India: Life Insurance Company

Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period. Here we are providing below the list of life insurance companies in India including both public & private insurance companies.

There is primarily only one public life insurance company which is LIC.

List Of Insurance Companies In India: General Insurance Company

Insurance contracts that do not come under the ambit of life insurance are called general insurance. The different forms of general insurance are fire, marine, motor, accident and other miscellaneous non-life insurance. Here we are providing below the list of private insurance companies in India providing General insurance.

In the table given below, candidates can check the establishment year of the public general insurance companies.

List Of Insurance Companies In India: Health Insurance Company

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FAQs: List Of Insurance Companies In India

Q.1 How many insurance companies are there in India?
Ans A list of all the Insurance companies in India is provided in the article above

Q.2 Where can I get list of private insurance companies in India?
Ans We have provided the list of private insurance companies in India in the article above

Q.3  Who is the Chairman of IRDA?
Ans Shri Debasish Panda is the chairman of IRDA