List of health insurance companies in india

By | September 25, 2013
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List of health insurance companies in India includes the top 10 best government and private health insurers in Mumbai, Delhi, Chennai, Bangalore, Pune and other cities providing cashless medical claim.

List of top 10 best health insurance companies in India

New India Assurance Company Limited

This company was incorporated on July 23rd, 1919 and founded by the House of Tata Founder member – Sir Dorab Tata. It was nationalised in 1973 with the merger of Indian companies.

It is the largest Non-Life insurer in Afro-Asia excluding Japan and the first Indian non-life company to reach Rs. 10073.88 crores Gross Premium and has an overseas presence in countries like Japan, U.K, Middle East, Fiji and Australia.

The company has the largest number of Offices – In India and abroad, trained and technically qualified staff and is the first domestic company to be rated by an International Rating Agency Rating based upon following factors:

Superior capital position, strong operating performance, strong market position, only company to develop significant International operations and a long record of successful trading outside India.

United India Insurance Company Limited

United India Insurance Company Limited was incorporated as a Company on 18th February 1938 and the General Insurance Business in India was nationalized in 1972.

12 Indian Insurance Companies, 4 Cooperative Insurance Societies and Indian operations of 5 Foreign Insurers, besides General Insurance operations of southern region of Life Insurance Corporation of India were merged with United India Insurance Company Limited.

list of health insurance companies in india

After nationalization, United India has grown by leaps and bounds and has 18300 work force spread across 1340 offices providing insurance cover to more than 1 Crore policy holders.

The Company has a variety of insurance products to provide insurance cover from bullock carts to satellites.

National Insurance Company Limited

National Insurance Company (NIC) was incorporated on 6th December 1906 at the height of the country’s nationalist Swadeshi movement as an expression of the Indian aspiration to establish a strong indigenous Company even in the midst of foreign rule.

Today, 107 years after its incorporation, NIC stands tall as the oldest insurance company in India and the only PSU non life insurance Company headquartered in the Eastern part of the country.

The company has a strength of more than 15,000 skilled Human assets and 1340 offices including 373 Business Centers pan India.

These business centers have been successful in reaching general insurance to hitherto unrepresented areas and segments across the country and stands as a model platform for penetration of the Insurance market.The Company also has operations in Nepal.

The Oriental Insurance Company Limited

The Oriental Insurance Company Ltd was incorporated at Bombay on 12th September 1947. The Company was a wholly owned subsidiary of the Oriental Government Security Life Assurance Company Ltd and was formed to carry out General Insurance business.

The Company was a subsidiary of Life Insurance Corporation of India from 1956 to 1973 ( till the General Insurance Business was nationalized in the country).

The Company is a pioneer in laying down systems for smooth and orderly conduct of the business. The strength of the company lies in its highly trained and motivated work force that covers various disciplines and has vast expertise.

Oriental specializes in devising special covers for large projects like power plants, petrochemical, steel and chemical plants.

The company has developed various types of insurance covers to cater to the needs of both the urban and rural population of India. The Company has a highly technically qualified and competent team of professionals to render the best customer service.

ICICI Lombard General Insurance Company Limited

ICICI Lombard GIC Ltd. is a joint venture between ICICI Bank Limited, India’s second largest bank with consolidated total assets of over USD 99 billion at March 31, 2013 and Fairfax Financial Holdings Limited, a Canada based USD 37 billion diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management.

list of health insurance companies in india

ICICI Lombard GIC Ltd. is the largest private sector general insurance company in India with a Gross Written Premium (GWP) of Rs. 6,420 crore for the year ended March 31, 2013.

Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz SE. Both enjoy a reputation of expertise, stability and strength.

Bajaj Allianz General Insurance received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 2nd May, 2001 to conduct General Insurance business (including Health Insurance business) in India.

The Company has an authorized and paid up capital of Rs 110 crores. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE.

IIFCO Tokio General Insurance Company Limited

IFFCO-Tokio General Insurance was incorporated on 4th December 2000 with a vision of being industry leader by building customer satisfaction through fairness, transparency, and quick response.

It is a joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group which is also the largest listed insurance group in Japan.

Reliance General Insurance Company Limited

Reliance General Insurance is one of the leading private general insurance companies of India.

They offer an exhaustive and customized basket of insurance products that include motor, health, travel, student travel insurance etc with over 94 customized insurance products catering to the corporate, SME and individual customers.

To pursue their belief in providing easy access to customers and distributors, they have 139 offices spread across 102 cities over 24 states.

list of health insurance companies in india

Apart from this, they also provide easy access to customers with a dedicated 24×7 call center, a transactional website, tie-ups through banks, channel partners and brokers.

Tata AIG General Insurance Company Limited

Tata AIG General Insurance Company Limited (Tata AIG General) is a joint venture company, formed by the Tata Group and American International Group, Inc. (AIG).

Tata AIG General combines the Tata Group’s pre-eminent leadership position in India and AIG’s global presence as the world’s leading international insurance and financial services organization.

The Tata Group holds 74 per cent stake in the insurance venture with AIG holding the balance 26 percent. Tata AIG General Insurance Company, which started its operations in India on January 22, 2001, provides insurance solutions to individuals and corporate.

Royal Sundaram Alliance Insurance Company Limited

Royal Sundaram Alliance Insurance Company Limited takes pride to be the first private sector general insurance company in India to be licensed since 2001.

Since then they have been at the forefront of providing innovative general insurance solutions to individuals, families and businesses.

They offer Motor, Health, Personal Accident, Home and Travel Insurance to individual customers.

They also have a wide specialised insurance offerings in Fire, Marine, Engineering, Liability and Business Interruption risks to the commercial customers.

Royal Sundaram also offers specially designed products to the Small and Medium enterprises and Rural customers.


The next list of top 10 best health insurance companies in India includes:

Cholamandalam MS General Insurance Company Limited

HDFC Ergo General Insurance Company Limited

Star Health and Allied Insurance Company Limited

Apollo Munich Health Insurance Company Limited

Future Generali India Insurance Company Limited

Universal Sompo General Insurance Company Limited

Bharti AXA General Insurance Company Limited

SBI General Insurance Company Limited

Max Bupa Health Insurance Company Limited

Religare Health Insurance Company Limited




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