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ICICI Lombard General Insurance is the largest private-sector general insurance company in India. [5] In a 2016 fiscal, ICICI Bank sold a 9.0% stake in ICICI General to its joint venture partner, Fairfax Financial Holdings, at a company valuation of ₹ 172.25 billion (equivalent to ₹ 250 billion or US$2.9 billion in 2023). [6]
Star Health Insurance launched its ₹ 7,249 crore (US$980.68 million) initial public offering (IPO) in December 2021. [ 6 ] [ 7 ] [ 8 ] After the issue was undersubscribed, it reduced the IPO size to ₹ 6,400 crore (US$865.82 million).
Pramerica Life Insurance Co. Ltd. Private Gurugram: 2008 21: Star Union Dai-ichi Life Insurance: Private Mumbai: 2008 22: IndiaFirst Life Insurance Co. Ltd. Private Mumbai: 2009 23: Edelweiss Tokio Life Insurance Co. Ltd. Private Mumbai: 2011 24: Credit Access Life Insurance limited: Private Bengaluru: 2023 25: Acko Life Insurance Limited ...
ICICI Bank Limited is an Indian multinational bank and financial services company headquartered in Mumbai with a registered office in Vadodara.It offers a wide range of banking and financial services for corporate and retail customers through various delivery channels and specialized subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management.
ICICI Prudential Life Insurance started its operations in 2001. The life insurance arm was established as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited [10] with assets under management (AUM) of approx. ₹ 1 billion (US$12 million). [11] In 2005, the company crossed the mark of 1 million policies. [12]
Policy price range: Insurance companies offer health insurance from a sum insured of ₹ 5,000 [11] for micro-insurance policies to a higher sum insured of ₹ 5 million (US$58,000) and above. The common insurance policies for health insurance are usually available from ₹ 100,000 (US$1,200) to ₹ 500,000 (US$5,800).
National Insurance Company Limited (NICL) is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance. It is headquartered at Kolkata and was established in 1906 by Gordhandas Dutia and Jeevan Das Dutia. National Insurance company and Asian Insurance company was nationalised in 1972.
The insurance sector has gone through a number of phases by allowing private companies to solicit insurance and also allowing foreign direct investment. India allowed private companies in insurance sector in 2000, setting a limit on FDI to 26%, which was increased to 49% in 2014, [ 2 ] and further increased to 74% in May 2021.