Life Insurance Corporation of India (LIC): LIC is the largest and oldest life insurance company in India with a market share of around 70%. It was founded in 1956 and is owned by the Indian government.
ICICI Prudential Life Insurance: ICICI Prudential Life Insurance is one of the largest private life insurance companies in India with a market share of around 14%. It was founded in 2001 and is a joint venture between ICICI Bank and Prudential Corporation Holdings Limited.
HDFC Life Insurance: HDFC Life Insurance is another leading private life insurance company in India with a market share of around 10%. It was founded in 2000 and is a joint venture between HDFC Ltd. and Standard Life Aberdeen.
SBI Life Insurance: SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Cardif. It has a market share of around 8%.
Max Life Insurance: Max Life Insurance is a joint venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. It has a market share of around 6%.
Other notable life insurance companies in India include Bajaj Allianz Life Insurance, Aditya Birla Sun Life Insurance, and Kotak Mahindra Life Insurance.