IRDAI data · updated 2026-07-29
Claim-settlement ratios published by the Insurance Regulatory and Development Authority of India, reproduced with the study period attached to every figure. We publish only numbers we can trace to the regulator's own report.
Metric: share of claims paid within three months of intimation.
| # | Insurer | Ratio | Period |
|---|---|---|---|
| 1 | IndusInd General Insurance (formerly Reliance General) | 99.57% | FY2023-24 |
| 2 | HDFC ERGO | 99.16% | FY2023-24 |
| 3 | ICICI Lombard | 97.16% | FY2023-24 |
| 4 | Bajaj General Insurance (formerly Bajaj Allianz) | 95.99% | FY2023-24 |
| 5 | Tata AIG | 95.43% | FY2023-24 |
| 6 | New India Assurance | 92.7% | FY2023-24 |
Metric: IRDAI death-claim settlement ratio.
| # | Insurer | Ratio | Period |
|---|---|---|---|
| 1 | Axis Max Life | 99.51% | FY2022-23 |
| 2 | HDFC Life | 99.39% | FY2022-23 |
| 3 | ICICI Prudential | 99.17% | FY2022-23 |
| 4 | Bajaj Life Insurance (formerly Bajaj Allianz Life) | 99.04% | FY2022-23 |
| 5 | LIC of India | 98.74% | FY2022-23 |
| 6 | SBI Life | 98.39% | FY2022-23 |
It is the share of claims an insurer settled out of those it received, published by IRDAI in its annual report. It shows how reliably an insurer pays.
On the IRDAI figures shown here, IndusInd General Insurance (formerly Reliance General) leads the general insurers for FY2023-24, and Axis Max Life leads the life insurers for FY2022-23. Ratios move each year, so always check the study period.
No. It is a useful signal about an insurer's track record, but an individual claim is settled on the policy wording, the facts of the loss and the documentation. Correct wording and disclosure matter more than the headline ratio.
How we source and check figures: editorial standards. Insurer profiles: our insurer network.