2. INDUSTRY OVERVIEW
• The Indian insurance industry has undergone transformational
changes since 2000 when the industry was liberalised.
• The industry has moved from a 1 player-market to 24 players
in last 13 years.
• It has witnessed phases of rapid growth in the earlier decade,
with a phase of low growth in the recent years.
0.00
50000.00
100000.00
150000.00
200000.00
250000.00
300000.00
350000.00
Industry Growth(Based on Total Premium)
FLAT
GROWTH
In Crore
Source: IRDA
4. TOTAL LIFE INSURANCE PREMIUM
98%
2%
2002-03
86%
14%
2005-06
70%
30%2009-10
75%
25%2013-14
Source: IRDA
Industry Total : Rs 55,747 Crore Industry Total: Rs 1,05,875 Crore
Industry Total: Rs 2,65,447 CroreIndustry Total: Rs 3,14,283 Crore
LIC
PRIVATE
COMPANIES
5. TOTAL PREMIUM: PRIVATE PLAYERS
OUT OF THE TOP 10 COMPANIES - ICICI PRUDENTIAL, HDFC STANDARD, SBI LIFE
ACCOUNT FOR ALMOST 50% OF THE TOTAL PREMIUM COLLECTION FOR THE YEAR
2013-14
Industry Total: Rs 50,260 Crore
21%
13%
12%
11%
7%
7%
6%
4%
4%
15%
2013-14
ICICI PRUDENTIAL
SBI LIFE
BAJAJ ALLIANZ
HDFC STANDARD
MAX LIFE
BIRLA SUNLIFE
RELIANCE
TATA AIA
KOTAK MAHINDRA
OTHERS
Source: IRDA
6. AEGON RELIGARE, 130.38%
AVIVA, 90.92%
BAJAJ ALLIANZ, 126.98%
BHARTI AXA, 204.60%
BIRLA SUNLIFE, 165.20%
CANARA HSBC, 68.59%
DHFL PRAMERICA, 237.74%
EXIDE LIFE, 94.15%
FUTURE GENERALI, 501.36%
HDFC STANDARD, 351.27%
ICICI PRUDENTIAL, 120.92%
IDBI FEDERAL, 33.81% IDBI FEDERAL, 33.81%
MAX LIFE, 180.7%
PNB METLIFE, 159.2%
RELIANCE, 206.1%
SAHARA, 128.9%
SBI LIFE, 106.7%
SHRIRAM LIFE, 126.2%
STAR UNION DAI-ICHI, 225.1%
TATA AIA, 76.4%
0.00%
100.00%
200.00%
300.00%
400.00%
500.00%
600.00%
CAGR OF LIFE INSURANCE PLAYERS(BASED ON TOTAL PREMIUM) 2000-2010
Industry Average 243%
Source: IRDA
7. AEGON RELIGARE
AVIVA
BAJAJ ALLIANZ
BHARTI AXA
BIRLA SUNLIFE
CANARA HSBC
DHFL PRAMERICA
FUTURE GENERALI
HDFC STANDARD
ICICI PRUDENTIAL
IDBI FEDERAL
IDBI FEDERAL
MAX LIFE
PNB METLIFE
RELIANCE
SBI LIFE
SHRIRAM LIFE
STAR UNION DAI-ICHI
TATA AIA
STAR UNION DAI-ICHI
TATA AIA
LIC
-20.00%
-10.00%
0.00%
10.00%
20.00%
30.00%
40.00%
CAGR OF LIFE INSURANCE PLAYERS(BASED ON TOTAL PREMIUM) 2011-2013
Industry average 1.8%
Source: IRDA
8. AUM GROWTH OF LIFE INSURANCE
COMPANIES
19.2
8.5
17.2
28.5
6.9
14.3
15.2 15.9
14.9 15.0
0.0
5.0
10.0
15.0
20.0
25.0
30.0
%
(In %)
Source: IRDA
9. TOTAL AUM MARKET SHARE
99%
1%
2003-04
97%
3%
2006-07
LIC
PRIVATE
COMPANIES
94%
6%2011-12
Industry Total: 3,07,210 Crore
Industry Total: 12,88,225 Crore
Industry Total: 4,65,439 Crore
Industry Total: 9,74,620 Crore
2013-14
92%
8%
Source: IRDA
10. AUM MARKET SHARE- PRIVATE PLAYERS
15%
13%
12%
12%
11%
7%
7%
4%
4%
4%
11%
2013-14
ICICI PRUDENTIAL
BAJAJ ALLIANZ
MAX LIFE
HDFC STANDARD
SBI LIFE
TATA AIA
RELIANCE
PNB METLIFE
EXIDE LIFE
KOTAK MAHINDRA
OTHERS
Industry Total: Rs 393382 Crore
THE TOP 4 COMPANIES (ICICI PRUDENTIAL, BAJAJ ALLIANZ, MAX LIFE AND HDFC STD)
ACCOUNT FOR 50% OF THE AUM GROWTH FOR THE FY 2013-14
Source: IRDA
11. AEGON RELIGARE, 35%
AVIVA, 28%
BAJAJ ALLIANZ, 46%
BHARTI AXA, 18%
BIRLA SUNLIFE, 32%
CANARA HSBC, 24%
DHFL PRAMERICA, 33%
EXIDE LIFE, 49%
FUTURE GENERALI, 36%
HDFC STANDARD, 40%
ICICI PRUDENTIAL, 33%
IDBI FEDERAL, 40%
KOTAK MAHINDRA, 35%
MAX LIFE, 44%
PNB METLIFE, 38%
RELIANCE, 52%
SAHARA, 17%
SBI LIFE, 37%
SHRIRAM LIFE, 21%
STAR UNION DAI-ICHI, 38%
TATA AIA, 37%
LIC, 13%
0%
10%
20%
30%
40%
50%
60%
CAGR OF LIFE INSURANCE PLAYERS(BASED ON AUM)-: 2004-2014
Industry average 14%
Source: IRDA
14. AEGON RELIGARE, 24%
AVIVA, 28%
BAJAJ ALLIANZ, 14%
BHARTI AXA, 41%
BIRLA SUNLIFE, 5%
CANARA HSBC, 35%
DHFL PRAMERICA, 55%
ICICI PRUDENTIAL, 8%
IDBI FEDERAL, 22%
INDIA FIRST, 24%
KOTAK MAHINDRA, 30%
RELIANCE, 25%
SAHARA, 16%
SBI LIFE, 12%
SHRIRAM LIFE, 18%
0%
10%
20%
30%
40%
50%
60%
CAGR OF LIFE INSURANCE COMPANIES(BASED ON NO. OF POLICIES):
2004-2012
Series1
Industry
Average: 10.2%
Source: IRDA
15. CLAIMS SETTLEMENT RATIO
• Claim Settlement Ratio refers to the total number of death claims
settled by an insurance company.
Calculation: No of claims settled * 100
Total No of claims registered
• Ex: if a life insurance company receives 1000 death claims and
settles 980, the claim settlement ratio of that company would be
(980/1000)*100 = 98%
• The higher the claim settlement ratio of the company, the more
favourable it is for the policy holders
Source: IRDA
16. CLAIM SETTLEMENT RATIOS OF INSURANCE COMPANIES
INSURER 2009-10 2010-11 2011-12 2012-13 2013-14
LIC 96 97 98 98 98
HDFC STANDARD 90 95 97 96 95
FUTURE GENERALI 91 95 96 96 94
MAX LIFE 66 78 89 94 93
STAR UNION DAI-
ICHI 58 81 86 90 92
BAJAJ ALLIANZ 88 89 91 89 91
KOTAK MAHINDRA 87 89 92 92 91
SBI LIFE 83 82 95 95 91
ICICI PRUDENTIAL 49 65 67 80 90
PNB METLIFE 83 85 81 84 90
BEST INSURERS AS PER CLAIM SETTLEMENT RATIO
BASIS: Ranking based on claim settlement ratio For FY 2013-14
* The industry has shown an improvement in the claim settlement ratios over a period
of time
Improved Settlement Ratio
Source: IRDA
18. INSURER 2009-10 2010-11 2011-12 2012-13 2013-14
SHRIRAM LIFE 40 56 65 67 68
EDELWEISS TOKIO 10 45 60
DHFL PRAMERICA 40 51 24 27 22
CLAIM SETTLEMENT RATIOS OF INSURANCE COMPANIES
• Although there has been a growth in their claim settlement ratio, SHRIRAM LIFE,
EDELWEISS TOKIO and DHPL PRAMERICA have the lowest ratio.
Source: IRDA