High 10 Listed Insurance coverage Corporations in India in 2024

Final Up to date on Sep 11, 2024 by Anjali Chourasiya

The insurance coverage market in India is steadily rising as the attention of insurance coverage is rising among the many plenty. The Covid-19 pandemic may also be thought-about a significant contributing issue to the identical. Furthermore, there have been many adjustments within the insurance coverage sector lately. Many insurers have gone public and have listed themselves on the Indian inventory exchanges. So, should you put money into shares, you’ll be able to moreover choose the shares of listed insurance coverage corporations and profit from their profitability. Here’s a listing of the highest 10 listed insurance coverage corporations primarily based on market cap.

High 10 Listed Insurance coverage Corporations in India (2024)

Put money into Distinctive Themes with smallcases!

Let’s dive into the important thing monetary metrics of the listed insurers.

Life Insurance coverage Company Of India

Popularly generally known as LIC, the corporate made its debut in India over 100 yrs in the past. The corporate has the best market share of life insurance coverage corporations in India 2024. It has a diversified product portfolio masking varied segments throughout particular person merchandise and group merchandise. It’s thought-about the highest insurance coverage firm in India.

• The market capitalisation of LIC stands at Rs. 651,032.01 cr., positioning it as a significant participant within the large-cap phase.
• The efficiency rating of LIC is 1.8/10, reflecting below-average efficiency in comparison with its friends.
• LIC has a Return on Fairness (ROE) of 63.31%, making it the 2nd highest amongst 12 comparable peer shares.
• Over the previous three years, LIC’s EPS has grown by 139.61%, highlighting its sturdy earnings development potential.
• LIC’s inventory is 2.99 instances extra unstable than Nifty, which classifies it as a moderate-risk funding.

Be taught extra in regards to the inventory’s monetary efficiency right here.

Bajaj Finserv Restricted

The corporate is a core funding firm and the holding firm for the assorted monetary providers enterprise beneath the Bajaj Group, India’s most diversified non-banking finance firm. Bajaj Finserv additionally participated in housing and developer financing by way of Bajaj Housing Finance Ltd and digital broking, fairness buying and selling, and wealth administration by way of Bajaj Monetary Securities Ltd. It ranks 2nd within the listing of high 10 insurance coverage corporations in India.

• Bajaj Finserv has a market capitalisation of Rs. 296,493.17 cr., putting it amongst large-cap shares.
• The inventory’s efficiency rating is beneath common. Nonetheless, there aren’t any pink flags within the inventory.
• Return on Fairness (ROE) stands at 8.98%, highlighting average profitability in comparison with its friends.
• The inventory displays average threat, being 1.65 instances extra unstable than the Nifty index.
• During the last three years, Bajaj Finserv has proven income development, with its newest fiscal 12 months income reaching ₹1,10,391.09 crore.

Take a look at the inventory’s efficiency compared to its friends right here.

SBI Life Insurance coverage Firm Restricted

SBI Life Insurance coverage Firm Ltd, based in 2001, is without doubt one of the main life insurance coverage suppliers in India. It’s listed on each the NSE and the BSE. The corporate gives a variety of insurance coverage merchandise, together with retirement plans, baby schooling plans, and tax calculators, catering to numerous monetary wants. It’s ranked 51st in market capitalisation amongst Indian corporations, with a market cap of Rs. 190,515.15 cr. SBI Life has proven sturdy profitability and effectivity metrics, though its development has lagged in comparison with business averages. The corporate’s inventory is taken into account overvalued relative to the market, but it stays in a steady place with out main pink flags. It ranks third within the listing of high 10 life insurance coverage corporations in India.

• The inventory has a price-to-book (PB) ratio of 12.45, indicating it’s buying and selling considerably above its e-book worth, which suggests a excessive valuation in comparison with friends.
• Over the previous 5 years, SBI Life’s income grew at an annual price of 24.45%, outperforming the business common of 11.59%, reflecting its rising market share.
• The inventory displays 1.77 instances extra volatility in comparison with the Nifty, classifying it as a comparatively higher-risk funding inside its class.
• SBI Life’s web earnings development price of seven.38% over the past 5 years is notably decrease than the business common of 34.26%, indicating room for enchancment in revenue growth.

Be taught in regards to the inventory’s occasions right here.

HDFC Life Insurance coverage Firm Restricted 

Fashioned as a three way partnership between HDFC Restricted and Normal Aberdeen PLC, HDFC Life is India’s main life insurance coverage supplier. Deepak S. Parekh based the corporate. It at present boasts a market capitalisation of Rs. 158,266.69 cr., rating it because the 61st largest listed firm in India. HDFC Life is taken into account a low-risk funding with volatility 1.76 instances that of Nifty. Regardless of its development challenges, the corporate demonstrates sturdy profitability and operational effectivity. Listed below are the important thing monetary highlights of the corporate:

• Over the previous 5 years, HDFC Life’s income has grown at an annual price of 32.14%, considerably outpacing the business common of 11.59%.
• The corporate’s web earnings development has been sluggish, averaging 0.2% per 12 months in comparison with the business’s 59.5% development price.
• HDFC Life’s present Worth-to-Earnings (P/E) ratio is 96.05, significantly larger than the sector common of 18.05, indicating overvaluation.
• The inventory has proven sturdy profitability metrics, positioning it among the many environment friendly gamers within the business regardless of decrease development charges.
• Institutional investor holdings have decreased barely, with overseas institutional possession dropping by 3.40% over the past three months.

Discover extra in regards to the inventory’s monetary efficiency right here.

ICICI Lombard Common Insurance coverage Firm Restricted

ICICI Lombard Common Insurance coverage Firm Ltd, based in 2001, is one among India’s largest private-sector non-life insurers, offering varied insurance coverage merchandise, together with motor, well being, journey, and company insurance policies. With a market capitalisation of Rs. 110,385.32 cr., the corporate ranks 93rd amongst listed corporations in India. It’s categorised as a low-risk inventory however is 1.77 instances as unstable as Nifty, reflecting larger market sensitivity. The important thing monetary highlights of the corporate are as follows:

• ICICI Lombard’s income has grown at an annual price of 13.46% over the past 5 years, barely above the business common of 11.59%.
• The corporate’s web earnings has grown at a yearly price of 14.09%, which is decrease than the business common of 59.5%, indicating challenges in matching sector profitability development.
• The inventory’s P/E ratio stands at 55.70, which is considerably larger than the sector common of 18.05, suggesting potential overvaluation.
• ICICI Lombard’s dividend yield is 0.51%, providing average returns by way of dividends to buyers.
• The corporate has seen a gentle enhance in promoter holdings, which rose by 3.91% within the final six months, reflecting administration’s optimistic outlook.

Be taught in regards to the inventory’s occasions right here.

ICICI Prudential Life Insurance coverage Firm Restricted

ICICI Prudential Life Insurance coverage Firm Ltd, a three way partnership between ICICI Financial institution and Prudential Company Holdings, is a number one life insurer in Indi, providing quite a lot of insurance coverage merchandise, together with life, well being, and pension plans. With a market capitalisation of Rs. 109,476.02 cr., it ranks 92nd amongst Indian corporations. The inventory is assessed as average threat and is 2.09 instances extra unstable than Nifty, reflecting larger sensitivity to market fluctuations. The monetary highlights of the corporate are as follows:

• ICICI Prudential’s income has grown at a sturdy annual price of 52.66% over the previous 5 years, outperforming the business common of 11.59%.
• The inventory’s P/E ratio is 126.63, considerably above the sector common of 18.05, indicating potential overvaluation.
• ICICI Prudential’s present dividend yield is a low 0.08%, offering minimal earnings return to buyers.
• The corporate’s market share has elevated from 4.95% to six.21% over the past 5 years, showcasing its rising presence within the aggressive insurance coverage market.

Take a look at the inventory’s efficiency compared to its friends right here.

Common Insurance coverage Company of India

Common Insurance coverage Company of India (GIC Re), established in 1972, is India’s largest reinsurance firm, offering providers to each home and worldwide insurance coverage markets. With a market capitalisation of Rs. 70,640.92 cr., it’s ranked 143rd amongst listed corporations in India. The inventory is taken into account high-risk with a volatility 4.17 instances that of Nifty, reflecting vital market sensitivity.

• GIC Re’s income has grown at a meagre annual price of 0.94% over the past 5 years, considerably underperforming the business common of 11.59%.
• The corporate’s web earnings has grown at a yearly price of 253.51%, which is larger the business common of 59.5%.
• The inventory’s P/E ratio is 10.40, which is decrease than the sector common of 18.05, suggesting that it may be reasonably valued.
• GIC Re’s dividend yield stands at 2.52%, providing engaging earnings potential in comparison with different insurance coverage friends.
• During the last 5 years, the corporate’s market share has decreased from 5.3% to three.15%, indicating a decline in its aggressive positioning.

Discover extra in regards to the inventory’s monetary efficiency right here.

New India Assurance Firm Ltd

The New India Assurance Firm Ltd, based in 1919, is a government-owned multinational basic insurance coverage firm providing a variety of merchandise, together with private, industrial, industrial, and legal responsibility insurance coverage. With a market capitalisation of Rs. 42,361.84 cr., it ranks 213th amongst listed corporations in India. The inventory is assessed as high-risk and is 4.78 instances extra unstable than Nifty, indicating the next sensitivity to market fluctuations.

• Over the previous 5 years, New India Assurance’s income has grown at a yearly price of 9.51%, which is beneath the business common of 11.59%.
• The corporate’s web earnings has grown at an annual price of 101.86%, considerably larger than the business common of 59.5%.
• The inventory’s P/E ratio is 36.53, which is significantly larger than the sector common of 18.05, suggesting that the inventory is overvalued.
• The corporate’s present dividend yield is 0.78%, providing restricted earnings potential for buyers.
• New India Assurance’s market share has declined from 3.26% to 2.95% over the previous 5 years, lowering its aggressive positioning.

Be taught in regards to the inventory’s occasions right here.

Max Monetary Companies Ltd

Max Monetary Companies Ltd, the holding firm for Max Life Insurance coverage, is a outstanding participant within the life insurance coverage sector in India. With a market capitalisation of Rs. 38,740.86 crore, it ranks 223rd amongst listed corporations in India. The inventory is assessed as average threat, with volatility 2.22 instances that of Nifty, indicating larger sensitivity to market adjustments.

• Over the previous 5 years, Max Monetary’s income has grown at an annual price of twenty-two.76%, outperforming the business common of 11.95%.
• Regardless of sturdy income development, the corporate’s web earnings has grown at a slower price of 29.48% per 12 months, lagging behind the business common of 59.5%.
• The inventory’s P/E ratio is 115.29, considerably larger than the sector common of 18.05, suggesting potential overvaluation.
• Max Monetary has not paid dividends within the final 5 years, limiting its attractiveness to income-focused buyers.
• The corporate’s market share elevated from 2.3% to three.15% over the past 5 years, highlighting its rising presence within the aggressive life insurance coverage market.

Take a look at the inventory’s efficiency compared to its friends right here.

Star Well being and Allied Insurance coverage Firm Restricted

Star Well being and Allied Insurance coverage Firm Ltd is a number one well being insurer in India, specializing in varied medical health insurance plans for people, households, and senior residents. With a market capitalisation of Rs. 36,773.07 cr., it’s ranked 235th amongst Indian listed corporations and categorised as a low-risk inventory with a volatility of 1.73 instances that of Nifty.

• Over the previous 5 years, Star Well being’s income has grown at a formidable annual price of 34.68%, considerably outperforming the business common of 11.95%.
• Regardless of the sturdy development, the inventory’s P/E ratio of 43.07 suggests it’s overvalued in comparison with the sector common of 18.05.
• Star Well being has not distributed any dividends up to now 5 years, making it much less engaging to buyers looking for common earnings.
• The corporate’s market share elevated from 0.44% to 0.95% over the past 5 years, demonstrating its increasing footprint within the aggressive medical health insurance sector.

Discover extra in regards to the inventory’s monetary efficiency right here.

Observe: Knowledge of all insurance coverage corporations has been taken from the Tickertape web site’s official inventory pages and the respective insurance coverage firm web sites.

Significance of insurance coverage

Based on Benori Data, a analysis and analytics firm, India ranks tenth within the international life insurance coverage market at 3.2% penetration and forward of China (at 2.4%) and the UK (at 3%). However why? Is getting insurance coverage essential? Listed below are some causes to get insurance coverage:

• It supplies you with monetary safety and a security web if one thing unexpected occurs.
• It safeguards you and your loved ones’s future objectives.
• Insurance coverage is an effective method of wealth creation and encourages financial savings.
• It’s an efficient threat administration software.
• Insurance coverage may give you peace of thoughts.

Additional, with rising uncertainties, having ample insurance coverage protection is extra necessary than ever.

Elements to Think about Earlier than Investing within the Finest Life Insurance coverage Firm Shares in India

1. Monetary Stability: Evaluating the monetary well being of an insurance coverage firm, together with its income, revenue margins, and asset high quality, can present insights into its skill to maintain and develop. Corporations with sturdy financials could also be higher positioned to climate financial fluctuations.
2. Market Share: Contemplating the corporate’s market share can point out its competitiveness and the extent of belief it has garnered amongst clients. The next market share typically displays an organization’s skill to draw and retain shoppers.
3. Progress Potential: Trying on the firm’s development prospects, together with new product choices and growth plans, might help assess future efficiency. Corporations that innovate and broaden their choices could have higher development potential.
4. Declare Settlement Ratio: A excessive declare settlement ratio signifies the corporate’s reliability in honouring claims, which is a important issue for policyholders. It signifies how effectively an insurance coverage firm processes and pays out claims.
5. Buyer Service: Assessing the standard of customer support and assist can affect policyholders’ general expertise and satisfaction. Corporations with good customer support usually tend to have excessive buyer retention charges.

Advantages of Investing within the High Life Insurance coverage Corporations in India

1. Steady Returns: Investing within the high 10 life insurance coverage corporations in India gives steady returns, making them a dependable funding possibility. Their enterprise fashions, characterised by long-term contracts and constant premium funds, assist keep regular money circulate. Furthermore, listed corporations reminiscent of basic insurance coverage shares additionally provide a degree of stability typically sought by buyers.
2. Dividend Payouts: Many high insurance coverage corporations, together with these within the listing of insurance coverage corporations in India, present common dividends to their shareholders, creating a further earnings stream. This makes them engaging to buyers looking for constant earnings. Investing in India’s high insurance coverage corporations, together with these listed among the many high 10 basic insurance coverage corporations in India, generally is a strategic alternative for dividend-focused portfolios.
3. Threat Mitigation: Diversifying your investments by including insurance coverage shares, whether or not from the highest 5 life insurance coverage corporations in India or automotive insurance coverage corporations in India, might help cut back general portfolio threat. The insurance coverage sector, typically encompassing each basic insurance coverage shares and specialised segments, tends to behave in another way from different sectors, offering a hedge towards market volatility.
4. Progress Potential: The quickly increasing insurance coverage market in India, fueled by rising consciousness and a rising center class, presents substantial development alternatives for main corporations. This development is clear throughout varied segments, from the listing of medical health insurance corporations in India to high authorities insurance coverage corporations. Understanding which insurance coverage firm is greatest in India might help you capitalize on this burgeoning market, aligning your funding technique with the very best insurance coverage firm in India.

Find out how to Select the Finest Life Insurance coverage Firm in India?

Listed below are key issues to bear in mind when choosing the highest life insurance coverage firm in India to your wants:

1. Status and Belief: A well-reputed firm with a long-standing historical past of belief and repair could also be a safer guess. Search for corporations with sturdy reputations and optimistic monitor information.
2. Product Choices: Consider the variety and adaptability of the insurance coverage merchandise supplied by the corporate. A variety of merchandise can cater to various buyer wants, enhancing satisfaction and loyalty.
3. Declare Settlement Ratio: The Declare Settlement Ratio (CSR) is a important metric indicating the proportion of claims settled by the corporate towards the entire claims filed within the earlier monetary 12 months. It’s advisable to check the CSR values and time period plans of various corporations to search out probably the most appropriate life insurance coverage plan.
4. Sturdy Buyer Assist: Assessing the insurer’s buyer assist is significant. Go for a life insurance coverage supplier that provides devoted assist for patrons and claims. Round the clock help is essential for addressing any points all through the period of the coverage.
5. Shopper Suggestions and Critiques: Analyzing critiques and suggestions from current clients can provide precious insights into the standard of service offered by life insurance coverage corporations in India, aiding you in making an knowledgeable resolution.
6. Availability of Riders: Indian life insurance coverage corporations current an array of time period riders that may be added to your base plan for expanded protection at a nominal further premium. These embrace riders for Important Sickness, Unintended Demise, Unintended Whole and Everlasting Incapacity, and Premium Waiver choices.
7. Regulatory Compliance: Making certain the corporate complies with all regulatory necessities can present added safety. Corporations that adhere to rules are typically extra reliable and steady.

Find out how to Put money into the Finest Listed Insurance coverage Corporations in India?

Investing in the very best listed insurance coverage corporations in India might be simplified with Tickertape’s superior instruments:

1. Set Up Your Account: Create a Tickertape account and arrange your funding profile.
2. Use Inventory Screener: Filter insurance coverage shares by market cap, P/E ratio, and monetary well being utilizing Tickertape’s Inventory Screener.
3. Analysis and Analyse: Use Tickertape’s analytics to assessment firm efficiency, developments, and professional insights. 
4. Monitor and Handle: Monitor your investments, set alerts, and handle your portfolio on Tickertape.

Begin researching and investing at this time! 

To Conclude

These are among the high insurers listed within the Indian inventory market. You possibly can choose these shares and diversify your portfolio within the Banking, Monetary Companies and Insurance coverage (BFSI) sector. Research the monetary metrics of the shares that you simply choose after which select the best-performing shares for enhancing the profitability of your portfolio. Seek the advice of your monetary advisor earlier than investing in any insurance coverage inventory or scheme.

FAQs About Listed Insurance coverage Shares

I’m a finance fanatic who loves exploring the world of cash by way of my lens. I’ve been devoted to constructing methods that work and curating content material that helps individuals be taught.

As an insatiable reader and learner, I’ve spent the final two years exploring the world of finance. With my artistic thoughts and curious spirit, I like making complicated finance subjects simple and enjoyable for everybody to know. Be part of me on my journey as we navigate the world of finance collectively!

Newest posts by Anjali Chourasiya (see all)