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TMI BlogApproved Public/Private Insurance CompaniesX X X X Extracts X X X X X X X X Extracts X X X X ..... Approved Public/Private Insurance Companies - News and Press Release Dated:- 30-11-2012 - News - Press Information Bureau Government of India Ministry of Finance 30-November-2012 15:18 IST The Insurance Regulatory and Development Authority (IRDA) has informed that in India, foreign companies can only form joint ventures with Indian companies. The list of the approved private life insurance companies operating in India and details of their joint venture partners company-wise, year-wise and State-wise details of registered office are enclosed in Annexure I . The number of policyholders complaints received against private life insurance companies for the financial year 2011-12 are placed at Annexure II . IRDA has furth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er informed that they have a centralized system- the Integrated Grievance Management System (IGMS) which creates the Central repository of complaints of policy holders against all insurance companies. Action, including imposition of penalties and warnings, is taken against the companies where deemed necessary. This was stated by the Minister of State for Finance, Shri Namo Narain Meena in a written reply to a question in the Lok Sabha today. ***** DSM/RS/ka Annexure-I List of Private Life Insurance Companies Sl.No. Insurers Foreign Partners RegnNo. Date of Registration Year of Operation Registered Office located in (City/State) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. HDFC Standard Life Insurance Co. Ltd. Standard Life (Mauritius Holdings), 2006 Ltd. 101 23.10.2000 2000-01 Mumbai (Maharashtra) 2. Max Life Insurance Co. Ltd. Mitsui Sumitomo Insurance co.Ltd, Japan 104 15.11.2000 2000-01 Mumbai (Maharashtra) 3. ICICI-Prudential Life Insurance Co. Ltd. Prudential Corporation Holdings Ltd , UK 105 24.11.2000 2000-01 Mumbai (Maharashtra) 4. OM Kotak Life Insurance Co. Ltd. Old Mutual Plc,, South Africa 107 10.01.2001 2001-02 Mumbai (Maharashtra) 5. Birla Sun Life Insurance Co. Ltd. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sun Life Financial (India) Insurance Investment Inc, Canada 109 31.01.2001 2000-01 Mumbai (Maharashtra) 6. Tata-AIG Life Insurance Co. Ltd. American International Assurance Co.(Bermuda Ltd.) 110 12.02.2001 2000-01 Mumbai (Maharashtra) 7. SBI Life Insurance Co. Ltd. BNP Paribas Cardif, France 111 29.03.2001 2001-02 Mumbai (Maharashtra) 8. ING Vysya Life Insurance Co. Ltd. ING Insurance International B.V., Netherlands 114 02.08.2001 2001-02 Bangalore (Karnataka) 9. Bajaj Allianz Life Insurance Co. Ltd. Allianz, SE Germany 116 0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.08.2001 2001-02 Pune (Maharashtra) 10. Metlife India Insurance Co. Ltd. Metlife International Holdings Inc, USA 117 06.08.2001 2001-02 Bangalore (Karnataka) 11. Reliance Life Insurance Co. Ltd. Nippon Life Insurance Co.Ltd. Japan. 121 03.01.2002 2001-02 Mumbai (Maharashtra) 12. AVIVA India Life Insurance Co.Ltd Aviva International Holdings Ltd., UK 122 14.05.2002 2002-03 Gurgaon (Haryana) 13. Sahara Life Insurance Co. Ltd. --- 127 06.02.2004 2004-05 Lucknow (Uttar Pradesh) 14. Shriram Life Insurance Co. Ltd. ---- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 128 17.11.2005 2005-06 Hyderabad (Andhra Pradesh) 15. Bharti AXA Life Insurance Co. Ltd. AXA India Holdings, France 130 14.07.2006 2006-07 Mumbai (Maharashtra) 16. Future Generali India Life Insurance Company Ltd. Participatie Maatschapij Graafsschap Holland NV, Netherlands ( Generali ) 133 04.09.2007 2007-08 Mumbai (Maharashtra) 17. IDBI Federal Life Insurance Company Ltd. Aegis Insurance International NV. Netherlands 135 19.12.2007 2007-08 Mumbai (Maharashtra) 18. Canara HSBC OBC Life Insurance Company Ltd. HSBC Insurance (Asia Pacific) Holdings Ltd. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 136 08.05.2008 2008-09 Gurgaon (Haryana) 19. Aegon Religare Life Insurance Company Ltd. Aegon India Holdings BV, Netherlands 138 27.06.2008 2008-09 Mumbai (Maharashtra) 20. DLF Pramerica Life Insurance Co. Ltd. Prudential International Insurance Holdings Ltd. USA 140 27.06.2008 2008-09 Gurgaon (Haryana) 21. Star Union Dai-Ichi Life Insurance Co. Ltd. Dai-Ichi Life Insurance Co Ltd. Japan 142 26.12.2008 2008-09 Mumbai (Maharashtra) 22. IndiaFirst Life Insurance Co. Ltd. Legal General Middle East Ltd. 143 05.11.2009 2009-10 Mumb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ai (Maharashtra) 23. Edelweiss Tokio Life Insurance Company Ltd. Tokio Marine Nichido Fire Insurance Co.Ltd. Japan 147 10.05.2011 2011-12 Mumbai (Maharashtra) Annexure II POLICYHOLDER COMPLAINTS AND MOVEMENT OF COMPLAINTS AGAINST PRIVATE LIFE INSURERS FOR THE FINANCIAL YEAR 2011-12 S.No Name of the Insurer Death Claims Policy Servicing Proposal Processing Survival Claims ULIP Related Unfair Business Practice Others Total Movement of Complaints in 2011-12 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reported during the year Attended during the year 1 Aegon Religare 18 365 107 25 26 2878 21 3440 3440 2774 2 Aviva 38 4201 1113 870 1392 4203 1703 13520 13520 13467 3 Bajaj Allianz 2936 3043 1901 6562 2748 4762 438 22390 22390 22388 4 Bharti AXA 44 551 873 184 429 5199 30 7310 7310 7285 5 Birla Sunlife 66 1827 710 990 474 7685 159 11911 11911 11632 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6 Canara HSBC 28 877 2819 11 126 1324 73 5258 5258 5256 7 DLF Pramerica 3 51 67 0 5 490 5 621 621 619 8 Edleweiss Tokio 0 1 3 0 0 2 0 6 6 6 9 Future Generali 50 94 14451 10 11 1035 16 15667 15667 15640 10 HDFC Standard 461 5781 5934 2634 1301 17910 1197 35218 35218 35205 11 ICICI Prudential 154 2336 1973 755 1170 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5499 129 22016 22016 22016 12 IDBI Federal 29 23 20 9 14 397 10 502 502 500 13 IndiaFirst 4 84 255 0 29 360 6 738 738 738 14 ING Vysya 21 2719 1349 3512 338 1509 1050 10498 10498 10497 15 Kotak Mahindra 22 275 194 109 139 5921 2190 8850 8850 8844 16 Max NewYork 149 3806 3674 333 72 2224 104 10362 10362 10360 17 MetLife ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 99 221 219 143 179 2032 47 2940 2940 2940 18 Reliance 258 5251 33847 721 515 9956 259 50807 50807 50802 19 Sahara 12 5 4 3 2 2 1 29 29 29 20 SBI Life 115 955 9378 622 252 6791 377 18490 18490 18482 21 Shri Ram 5 21 17 11 10 69 16 149 149 142 22 Star Union Daichi 2 23 40 1 12 193 13 284 284 283 23 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tata AIG 395 4264 1111 875 918 8657 87 16307 16307 16291 Private Total: 4909 36774 80059 18380 10162 99098 7931 257313 257313 256196 - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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