Regulation
IRDA is the regulator forthe insurance industry in India.
The insurance sector in India has come a full circle from being an open competitive market to nationalization and back to a liberalized market place yet again.
Tracing the developments from the Indian insurance sector reveals the 360 degree turn witnessed in excess of a time period of more or less two hundreds of years.Insurance sector reforms
In 1993 Malhotra Committee headed by previous Finance Secretary and RBI Governor R.
N. Malhotra was formed to evaluate the Indian insurance market place and recommend its
upcoming route.A brief heritage belonging to the Insurance sector
The business enterprise of existence insurance in India in its current type began in India within the 12 months 1818 with all the establishment from the Oriental Everyday life Insurance Provider in Calcutta.
A lot of the critical milestones within the life insurance online business in India are- 1912- The Indian Existence Assurance Corporations Act enacted as the initial statute to regulate the daily life insurance internet business. Cab trip sheet format office chennai 1928- The Indian Insurance Corporations Act enacted to permit the govt to gather statistical information and facts about equally lifetime and non-life insurance firms. 1938- Before legislation consolidated and amended to through the Insurance Act when using the objective of safeguarding the interests of your insuring public. 1956- 245 Indian and foreign insurers and provident societies taken around through the central govt and nationalized. LIC formed by an Act of Parliament viz. LIC Act 1956 with a money contribution of Rs. five crore in the Authorities of India. Establishment of Insurance Regulatory and Advancement Authority 1996 Passing of IRDA Invoice 1999 Licensing of very first batch of non-public insurers 2000
Normal insurance business enterprise
Several of the crucial milestones inside the basic insurance online business in India are- The Typical insurance company in India can trace its roots into the Triton Insurance Corporation Ltd. the 1st common insurance organization established inside the yr 1850 in Calcutta through the British. 1907- The Indian Mercantile Insurance Ltd. construct the 1st firm to transact all classes of typical insurance business. 1957- Typical Insurance Council a wing in the Insurance Association of India frames a code of carry out for making certain truthful carry out and audio small business practices. 1968- The Insurance Act amended to regulate investments and set minimal solvency margins as well as Tariff Advisory Committee put together. 1972- The Typical Insurance Business Nationalization Act 1972 nationalized the normal insurance online business in India with effect from 1st January 1973. 107 insurers amalgamated and grouped into four firms viz. the National Insurance Provider Ltd. the newest India Assurance Business Ltd. the Oriental Insurance Service Ltd. and also the United India Insurance Provider Ltd. GIC included as a company.
Life Insurers
Knowledge inserted on 23.12.2008
S.No
Identify In the Agency
Name OF PRINCIPAL OFFICER
Name OF APPOINTED ACTUARY
Phone NO.FAX No.E-MAIL WEB ADDRESS
1.
Bajaj Allianz Lifestyle Insurance Enterprise Limited .GE Plaza Airport Road YerawadaPune 411 006
Mr.Kamesh Goyal
Mr. Anil Kumar Singh
Tel – 020-4026666 Fax – 020-4026789.
2.
Birla Sun Daily life Insurance Co. Ltd 6th Floor Vaman Centre Makhwana Roadoff Andheri-Kurla Road AndheriE MUMBAI-400 059.
Mr. Vikram J. Mahmi
Mr. Fabien Jeudy
Tel – 022 5678 3333Fax- 022 5678 3232
3.
HDFC Standard Living Insurance Co. Ltd 2nd Floor Trade StarKondivita JunctionAndheri Kurla RoadAndheri EastMumbai 400059.
Mr.D.M. Satwalekar
Mr. William John Martin
Tel – 022-67516666Fax- 022-2822 8844
4.
ICICI Prudential Daily life Insurance Co. Ltd ICICIPrulifeTowers 1089 Appasaheb Marathe Marg Prabhadevi Mumbai 400 025.
Ms. Shikha Sharma
Mr. Avijit Chatterjee
Tel -022-56621996Fax- 022-56622031
5.
ING Vysya Living Insurance Business Ltd.ING Vysya Home 5th Floor 22 Mahatma gandhi RoadBangalore-560 001.
Mr.Kshitij Jain
Ms. Hemamalini Ramakrishnan
Tel – 080-25328000Fax- 080-25559764
6.
Existence Insurance Corporation of India Yogakshema Jeeva Bima Marg Post Box No. 19953 MUMBAI 400 021
Shri T S. Vijayan
Mr. T Bhargava
Tel 5659870156598702Fax- 22824386E-Mail
7.
Max New York Life Insurance Co. Ltd 11th Floor DLF Square Jacaranda Marg DLFCity Phase-II GURGAON 122 002.
Shri Rajesh Sud
Mr.John Charles Poole
Tel – 0124-2561717Fax- 0124-2561764
8.
Met Everyday life India Insurance Enterprise Ltd.Brigade Seshamahal No. 5 Vani Vilas Road BasavanagudiBANGALORE-560 004.
Mr. Rajesh Relan
Mr. M S V S Phanesh
Tel – 080-26438638Fax- 080-26521970Toll Free No. 1-600-44-6969
9.
Kotak Mahindra Old Mutual Lifestyle Insurance Limited
9th Floor Godrej ColiseumBehind Everard NagarSion EastMUMBAI-400 022..
Mr. Gaurang Shah
Mr. Andrew Willis Cartwright
Tel – 022-6621 5999Fax-022-6621 5757 6621 5858
10.
SBI Existence Insurance Co. Ltd TurnerMorrisonBuilding 2nd Floor 16 Bank Street Fort Mumbai-400 023.
Mr.Uday Sankar Roy
Mr. Sanjeev Kumar Pujari
Tel – 022-56392000Fax- 022-56621471
11.
Tata AIG Lifestyle Insurance Business Limited 5th 7 6th Floor Peninsula Tower Peninsula Corporate ParkGanpatrao Kadam Marg Lower Parel MUMBAI 400 013.
Mr.Trevor Bull
Mr. Heerak Basu
Tel -022-66516000 Fax – 022-66550711
twelve
Reliance Lifetime Insurance Business Limited.1st Floor Mdas SaharPlazaAndheri Kurla RoadAndheri East Mumbai 400059.
Mr. P Nandagopal
Ms. Pournima Gupte
Tel – 022-3047960030479784Fax- 022-30479650
13
Aviva Everyday life Insurance Company India LimitedAvivaTower Sector Road Opposit Golf Course DLF-Phase V Sector-43Gurgaon – 122 003
Mr. T. R. Ramachandran
Mr. Chandan Khasnobis
Tel- 0124-270 900001Fax- 0124-270 9007.
14
Sahara India Lifestyle Insurance Co Ltd. SaharaIndia Bhawan Kopoorthala ComplexLucknow 226024
Mr.N.C. Sharma
Mr. K K Dharni
Tel- 0522-2337777Fax- 0522-2378200
15
Shriram Everyday life Insurance Co Ltd. Regd. Office – 3-6-478 3rd Floor Anand Estate Liberty Road Himayat Nagar Hyderabad – 500029
Mr R Duruvasan
Mr N S Sastry
Tel- 040-23434466-72Fax- 040-23434488
16
Bharti AXA Lifestyle Insurance Business Ltd. 6162 Kalpataru Synergy Vakola Opp. Grand Hyatt Hotel Santacruz E Mumbai – 400 055
Mr. Nitin Chopra
Mr. G L N Sarma
Tel- 022 – 403063006301Fax- 022 – 40306347
17
Long run Generali India Lifetime Insurance Firm Limited 001 Trade Plaza Ground Floor 414 Veer Sarvarkar Marg PrabhadeviMumbai 400 025.
Mr. Jayant Khosla
Mr. Gorakhnath Agarwal
Tel No.- 022-40976666
Fax No.- 022-40976600
18
IDBI Fortis Living Insurance Agency Ltd. Tradeview Oasis Complex Kamala City P.B. Marg Lower Panel WMumbai-400 013
Mr. G.V. Nageswara Rao
Mr. Michael J Wood
Tel No.- 022-2490810910
Fax No.- 022-24941016
19
Canara HSBC Oriental Bank of Commerce Everyday living Insurance Firm Ltd. Co. HSBC at Amsoft Systems Unitech Trade Centre Sector-43 Sushant Lok-1Opp. Park Plaza HotelGurgaon-122 001.
Mr. Harpal S. Karlcut
Mr. Paul Beresford
Tel- 0124- 44215706Fax- 0124- 4201109
20
AEGON Religare Existence Insurance Corporation Limited. GYS Heights 2nd Floor Paranjpe -B- Scheme Subhash Road Near Garware HouseVile Parle E Mumbai – 400 057
MR. Rajiv Jamkhedkar
Mr. K.S. Gopalakrishnan
Tele No.-022-67292929Fax No.- 022 67293333
21
DLF Pramerica Living Insurance Co. Ltd.
6th Floor DLFGatewayTower R Block DLFCity Phase-III Gurgaon-122002.
Source-
Non-Life Insurers
Info inserted on 23.12.2008
S.NO
Identify Belonging to the Firm
Title On the PRINCIPAL OFFICER
Title Within the APPOINTED ACTUARY
Phone NO.FAX No.E-MAIL WEB ADDRESS
1.
Bajaj Allianz Standard Insurance Co. Ltd.
GE Plaza Airport Road YerawadaPune411 006.
Mr.Swaraj Krishnan
Ms. Asha J. Joshi
Tel – 020-6602 6666Fax- 020-6602 6667
2.
ICICI Lombard Typical Insurance Co. Ltd.
Zenith HouseKeshavrao Khade MargMahalaxmiMUMBAI-400 034.
Mr. Sandeep Bakshi
Mr. Liyaquat Khan
Tel – 022-24906999Fax- 022-24927624
3.
IFFCO Tokio Basic Insurance Co. Ltd.
4 and 5th Floors IFFCOTower Plot No.3 Sector 29GURGAON-122001Haryana
Mr.S. Narayanan
Mr. K.K. Wadhwa
Tel – 0124-2850100Fax- 0124-2577923-2577924
4.
Nationwide Insurance Co.Ltd.
3 Middleton Street P.B. No. 9229KOLKATA 700 071.
Mr.V. Ramasaamy
Mr. BhudebChatterjee
Tel – 033-22831705 to 9Fax – 033-22831712
5.
The newest India Assurance Co. Ltd.
New India Assurance Bldg. 87 M.G. Road Fort Mumbai 400 001.
Mr.B. Chakrabarthi
Mr.A.R.Prabhu
Tel- 022-22674617 – 22 Fax- 022-22652811 Email- cmd. Web-site- www.newindia.co.in
6.
The Oriental Insurance Co. Ltd.
A-2527 Asaf Ali RoadNew Delhi 110 002.
Mr. M. Ramadoss
Mr. Yash Paul Sabharwal
Tel -011-23279221-25Direct-23265024Fax- 2328719223287193 23283971
7.
Reliance Standard Insurance Co. Ltd.
570 Naigaum Cross Road Next to Royal Industrial Estate WadalaWest MUMBAI – 400 031
Mr. K. A. Somasekaran
Mr.Gopalakrishna Pai
Tel.No.022-30479602 Board no-022-30479600 Fax. No.022-330479650
8.
Royal Sundaram Alliance Insurance Co. Ltd SundaramTowers 45-46 Whites Road RoyapetahCHENNAI-600 014.
Mr. Ajay Singh Bimbhet
Mr.O.Lakshminarayana
Tel- 044-42227373Fax- 044-28517376Email-ajay.Web-site- ww.royalsundaram.com
9.
Tata AIG Common Insurance Co. Ltd.Peninsula Corporate ParkNicholasPiramalTower 9th Floor Ganpatrao Kadam MargLower ParelMUMBAI 400 013.
Mr. Gaurav Garg
Mr.K.Hanumanth Rao
Tel – 022-66699696Fax- 022-56546464
Email- gaurav.Web-site- www.tata-aiggeneral.com
10.
United India Insurance Co. Ltd.
24 Whites RoadCHENNAI – 600 014.
Mr. G. Srinivasan
Mr.S.Krishnan
Tel – 044-28520161Fax – 044-28523825
11.
Cholamandalam MS Standard Insurance Co. Ltd.Dare House 2nd Floor New No.2 Old No. 234 N.S.C. Bose Road Chennai – 600 001
Mr. S. S. Gopalarathnam
Mr.K. P. Sharma
Tel – 044-42166000Fax – 044-42166001
twelve.
HDFC ERGO Basic Insurance Co. Ltd. 6th Floor Leela Enterprise Park Andheri Kurla RoadAndheri EastMumbai – 400 059.
Mr. Ritesh Kumar
Mr. Narayanan Laksmanan
Tel – 022-6638 3600 Fax – 022-6638 3699
13.
Export Credit Guarantee Corporation of India Ltd.10th Floor ExpressTowers Nariman PointMumbai – 400021
Sri A.V. Muralidharan
Tel-022-56590512-515Fax – 022-56590517022-56590530
14.
Agriculture Insurance Co. of India Ltd.13th Floor 14 K.G. Marg Connaught PlaceNew Delhi – 110001
Mr. M. Parshad
Mr. S. Chidambaram
Tel-011-41081991-4Fax – 011-41081995Email- Web-site- www.aicofindia.org
15.
Star Health and Allied Insurance Provider Limited
No.1 New Tank StreetVlluvarkottam High RoadNungambakkam Chennai – 600 034
Mr. V. Jagannathan
Mr. R. Soundararajan
Tel-044-28260053
Fax -044-28260062
16.
Apollo DKV Insurance Agency LimitedMasterpiece BuildingGolf Course Road Sector-54Gurgaon 122002Haryana India
Dr. Axel Munaretto
Mr. Gautam Kakar
Tel No- 91-124-4584100
17.
Future Generali India Insurance Enterprise Limited001 Trade Plaza Ground Floor414 Veer Sarvarkar MargPrabhadevi Mumbai 400 025
Mr. Deepak Sood
Mr. Biresh Giri
Phone No.- 91-22-4097-6666
Fax No.- 91-22-40976868
18
Universal Sompo Basic Insurance Co. Ltd.310-311 Trade CentreOpp. MTNL BuildingBandra Kurla ComplexBandraEMumbai-400 051.
Mr. O.N. Singh
Mr. Varadarajan Govindan
Tele. No.- 022-4028 7777Fax No.-022-4028 7781
19
Shriram Normal Insurance Company Limited
Greams Dugar5th Floor No.-149Greams RoadChennai-600 006
Mr. P A Balasubramanian
Tele. No.- 0141-3220896 898 900 902Fax No.-0141-2770426
20
Bharti AXA Common Insurance Corporation LimitedRMZ Infinity Tower B II Floor
Old Madras Road
Bangalore – 560016
Mr Milind Chalisgaonkar
Mr M Venkatesan
Phone no-080-40260100
Fax. No 080-40260101
www.bharti-axagi.co.in
Source-
Mr. Kapil Mehta CEO
Mr. Pradeep Kumar Thapliyal
Ph. No.-91-124-271700
Fax No.-91-124-2717200
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