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It should be your top priority to ensure the safety of the assets which are valuable to you. Your assets such as a brand new car, bike, house, gold, silver, etc. are also highly valuable assets and they must be safeguarded from any unforeseen events. This is why it is absolutely necessary to get general insurance.
Tired of searching for the right General Insurance company for purchasing a policy? In this article, we have listed the top 10 general insurance companies in India for you.
Founded: 2015
Headquarters: Mumbai, Maharashtra
We decided to start the list with Kotak Mahindra General Insurance as it has been in the news since RBI gave approval to Zurich Insurance Company to acquire 70 percent stakes in the general insurance company.
As you can already imagine, Kotak Mahindra General Insurance company’s parent organization is none other than Kotak Mahindra Bank. It was founded in 2015 to service the growing non-life insurance segment in India. As of September 2020, it has a national footprint of 19 branches spread across India.
This general insurance company provides various general insurance policies in India such as car insurance, two-wheeler insurance, health insurance, home insurance, fire insurance, marine insurance, liability insurance, etc. It has a network of 4000+ hospitals, according to Wikipedia.
Founded: 2000
Headquarters: Gurugram, Haryana
IFFCO Tokio laid its foundation stone in 2000 as a result of a collaboration between Tokio Marine, Farmer Fertilizers Co-operative and Nichido Fire Group, a famous fire insurance group based in Japan.
Since its inception, the IFFCO Tokio has been serving various non-life insurance products including health, motor, home, travel, SME etc. to its policyholders and is considered amongst the most popular insurance companies in India.
Founded: 2007
Headquarters: Connaught Place, New Delhi
AXA Business Group and Bharti Enterprises collaborated to form an insurance company known as Bharti AXA, in 2007. Bharti Axa’s main office is located in Mumbai. The general insurance company provides a variety of insurance products to clients in the trade and business sectors as well as to individuals.
The company offers insurance policies for automobile, health, and serious illness, valuable possessions, crop insurance, and travel inside India or overseas for individuals, families, and students. With 135 branches nationwide, the company is well-known in India.
Founded: 2009
Headquarters: Mumbai, Maharashtra
SBI General Insurance was established in 2009 as a joint venture by State Bank of India (SBI) and Insurance Australia Group (IAG). The insurer is well-known in India and provides a variety of insurance solutions for both retail and commercial spaces at reasonable costs. A wide range of products are offered, such as house, auto, health, and personal accident insurance.
Founded: 2001
Headquarters: Mumbai
Regarded as one of India's leading insurance businesses, TATA AIG General Insurance was established in 2001 and has its headquarters located in Mumbai. The company is one of the most sought-after insurers and is the outcome of the collaboration with American International Group.
The insurance company launched a number of cutting-edge solutions to meet the various demands of its clients. Travel, health, and auto insurance are among the well-known offerings from Tata AIG. In addition to this, the insurance company provides insurance to the Private Client Group, which consists of people including royal families, business owners, and artists.
Tata AIG’s products are available through various channels of distribution such as agency which has more than 83,500 licensed agents and a very strong Broking channel which consists of more than 600 licensed brokers.
Founded: 2008
Headquarters: Jaipur, India
Shriram General Insurance was founded in 2008 as a result of the collaboration between Joint Venture between Shriram Capital Ltd. and South Africa-based company Sanlam Limited.
The insurer believes in offering comprehensive insurance solutions through its innovative products such as car insurance, bike insurance, travel insurance, home insurance, personal accident insurance, commercial vehicle insurance and business insurance.
Founded: 2000
Headquarters: Pune, Maharashtra
Bajaj Allianz General Insurance is jointly held by Bajaj Finserv Limited and Alliaz SE who own 74% and 26% shares in the company, respectively. The insurance company has allowed millions of individuals, groups, and entities to effectively manage risks by giving them customized solutions. Bajaj Allianz General Insurance provides various insurance policies such as automobile insurance, home insurance, health insurance and cyber insurance.
Founded: 2001
Headquarters: Chennai, Tamil Nadu
Cholamandalam MS General Insurance Firm Ltd., or Chola MS, is an Indian general insurance firm that was established through a joint venture between the Tokyo-based insurance giant Mitsui Sumitomo Insurance Group and Chennai-based Murugappa Group.
The insurance company's "T3" motto comprises three essential elements namely technology, trust, and transparency. Property insurance, property and casualty insurance, engineering insurance, marine insurance, and rural insurance are just a few of the many insurance products and services offered by the Cholamandalam MS General Insurance to both private citizens and commercial clients.
Founded: 2018
Headquarters: Mumbai, Maharashtra
Zuno General Insurance, formerly known as Edelweiss General Insurance Company, was founded in 2018 to enter the non-life insurance market. Zuno General Insurance is a division of Edelweiss Financial Services Ltd., which entered the insurance market with the aim to provide customers a wide range of insurance products such as those for automobiles, homes, health care, businesses, fire and engineering hazards and two wheelers. The insurance policies offered by Zuno General Insurance are made to meet the requirements of customers and offer quick and easy fixes.
Founded: 1938
Headquarters: Chennai, Tamil Nadu
United India Insurance Company was incorporated in the year 1938. However, its general insurance business was nationalized in 1972.
The insurer offers a variety of insurance products such as motor, health, personal accident, travel, shopkeeper’s insurance etc. Among its other product categories, there are fire insurance, marine insurance, liability insurance, industrial insurance, credit, micro insurance etc. Interestingly, the company also provides bullock cart insurance.
When purchasing general insurance, it is really important to choose a general insurance company. This list mentioned above has listed some of the most popular general insurance companies available in the country. All of these insurance companies possess IRDA License.
Disclaimer: The insurance companies mentioned in this article are not listed according to any official ranking data. We recommend you to do your own market research and seek professional advice before choosing the right general insurance policy.
Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.
