Insurance is an arrangement that provides financial aid in case of emergencies. It can be bought by paying premiums either monthly or annually. General Insurance service covers natural disasters, severe medical conditions, vehicle accidents, loss in business and several such casualties. The numerous types of insurance policies may seem very confusing, hence given below are some of the top general insurance companies in India the current Indian insurance market.
Here are the 13 Top General Insurance Company in India
- National Insurance Company Limited
Recognized as one of the top premium insurance companies in India by Economic Times, National Insurance Company Limited offers complete insurance cover from natural calamities to rural and urban businesses and households. Established in 1906, it is a public sector company and has its head office in Kolkata, West Bengal. For more info visit: https://nationalinsurance.nic.co.in/
- New India Assurance Company Limited
Sir Dorabji Tata established it in the year 1919, New India Assurance Company Limited, and is considered as one of the best general insurance companies in India, offering its services globally around 22 countries with 1600 branches. Headquartered in Mumbai, NIA is solely owned by the government and offers services in various sectors such as jewelry, oil, and energy, petrochemicals, aviation, etc. For more info visit: https://www.newindia.co.in/portal/
- Bajaj Allianz General Insurance Company
Bajaj Allianz General Insurance Company is known for being one of the most ‘financially robust insurers’ in the General Insurance market, Bajaj Allianz offers services that are IRDA certified. Therefore, it ranges among the top general insurance companies in India and provides excellent customer-oriented services. For more info visit: https://www.bajajallianz.com/
- Oriental Insurance Company Limited
Established in 1947, Oriental Insurance Company Limited is one of the foremost contenders in the public sector industry for General Insurance. Due to its customer-friendly nature, it finds its place in the top general insurance companies in India.
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Oriental Insurance Company offers its services to various sectors, including steel, chemical, petrochemical, and power plants ranging from small-scale to large-scale industries in rural as well as urban areas of the country. It is a multinational company with its headquarters in New Delhi and 31 regional offices and over 1800 branches in the country. For more info visit: https://orientalinsurance.org.in/
- United India Insurance Company Limited
United India Insurance Company Limited had a dominating presence in the general insurance market since 1938 and has a head office in Chennai. It provides insurance covers ranging from small-scale to large-scale organizations. It offers many benefits to its customers throughout the year, such as the no-claim bonus of 3% and free medical check-ups. For more info visit: https://uiic.co.in/
- TATA AIG General Insurance Company Limited
With its headquarters in Mumbai, this company was a joint venture between these two companies- TATA Group and American International Group (AIG) established in the year 2001. TATA AIG Limited offers services in all sectors- home, travel, lifestyle, health, and motor insurance. With over 200 offices, 22,000+ licensed agents, and 390+ licensed brokers, it ranges among the top general insurance companies in India. For more info visit: https://www.tataaig.com/
- ICICI Lombard General Insurance Company Limited
One of the best companies in the private sector for general insurance, ICICI Lombard, is a joint project between ICICI Bank and Fairfax Financial Holdings Limited, established in 2001. It provides automobile insurance, health insurance, and business protection. For more info visit: https://www.icicilombard.com/
- IFFCO Tokio General Insurance Company Limited
It is integrated as a joint venture between Indian Farmers Fertilizer Cooperative (IFFCO) and Tokio Marine Group from Japan. IFFCO Tokio provides comprehensive Insurance covers ranging from health, home, motor, and travel, etc. IIFCO is the first company to underwrite mega policies for a fertilizer company and an automobile company. For more info visit: https://www.iffcotokio.co.in/
- HDFC ERGO General Insurance Company Limited
HDFC ERGO is a joint project between HDFC Limited of India and Ergo International AG, which is a Munich based company. The has an extensive product portfolio catering to the needs and insurance requirements of the customers. HDFC ERGO has won various awards like Product of the Year and Brand Excellence award in the past years. It is thus considered one of the best general insurance companies in India as well as globally. For more info visit: https://www.hdfcergo.com/
- Reliance General Insurance Company Limited
With over 12000 intermediary offices, 139 main offices, and online facilities, Reliance Company has firmly set its foot in the top general insurance companies in India.
It offers services in various sectors enlightening the people to make a tension-free and good standard of living. Established in 2000, it is an auxiliary of Reliance Capital Ltd and is a private general insurance company. For more info visit: https://www.reliancegeneral.co.in/Insurance/Home.aspx
- SBI General Insurance Company Limited
SBI General Insurance Company Limited was established as a joint project between the State Bank of India (SBI) and Insurance Australia Group (IAG) in 2010, it has branches in more than 110 cities across India. It has several insurance policies ranging from health, car, home, travel, personal accidents, etc. For more info visit: https://www.sbigeneral.in/portal/
- Cholamandalam MS General Insurance Company Limited
Cholamandalam MS General Insurance Company, also known as Chola MS, is one of the top general insurance companies in India providing insurance in various sectors such as accidents, travel, engineering, health, property and rural insurance for both corporates and individuals. Established in 2001 as a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Group (MSIG), the company has 93 branches and over 6,000 agents across the country. For more info visit: https://www.cholainsurance.com/
- Future Generali India Insurance Company Limited
Future Generali India Insurance Company was founded in 2007 as a joint venture between the Future Group and Assicurazioni Generali. It is a private general insurance company.
Future Generali provides a diverse range of insurance, including personal, commercial, and social/rural insurance to individuals, small firms as well as large organizations.
In 2019, Future Generali had over 16 lakh customers in 126+ locations across India, making it one of the top general insurance companies of India. For more info visit: https://general.futuregenerali.in/