Counted from IRDAI's registers · last updated 27 October 2026
Indian Insurance Statistics 2026
Most insurance statistics you will find are averages taken from somebody else's study. These are not. Every figure below is counted by us from IRDAI's own published registers on the date shown, and each states how it was counted, so you can check it. Last updated 27 October 2026.
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Key takeaways
- RFS indexes 3,592 product filings from IRDAI's non-life register, of which 792 are main products and 2,800 are optional add-on covers (counted 27 October 2026).
- Every one of those 3,592 filings carries a link to its policy wording published by IRDAI, which is where the terms of cover actually live.
- India has 28 general insurers, 8 standalone health insurers and 26 life insurers on IRDAI's register, plus 3 reinsurer entries (counted 27 October 2026).
- 7 general and health insurers on the register currently trade under a name different from the one on older policies, so a policy bought a few years ago may name a company that no longer exists under that name.
The market: who is actually registered
IRDAI's register lists 28 general insurers, 8 standalone health insurers, 26 life insurers and 3 reinsurer entries — 65 entities in total, counted on 27 October 2026.
Of the general and standalone health insurers, 7 are recorded under a former name as well as a current one.
The renames on the register today are: Bajaj General Insurance Limited (formerly Bajaj Allianz General Insurance Company Limited); Care Health Insurance Ltd. (formerly Religare Health Insurance Co. Ltd.); Galaxy Health Insurance Company Limited (formerly Galaxy Health and Allied Insurance Co. Ltd); IndusInd General Insurance Company Limited (formerly Reliance General Insurance Company Limited); Magma General Insurance Limited (formerly Magma HDI General Insurance Company Limited); Zuno General Insurance Ltd. (formerly Edelweiss General Insurance Company Limited); Zurich Kotak General Insurance Company (India) Limited (formerly Kotak Mahindra General Insurance Company Limited).
Why it matters: a claim or a renewal on a policy naming the old entity has to be directed to the company that now holds it. We check every policy on our book against the register for exactly this.
Products on file with IRDAI
We hold 792 main non-life products and 2,800 add-on covers from the filing register, counted 27 October 2026.
Add-ons outnumber main products: for every main product on file there are roughly 3.5 optional covers.
The number of distinct insurers filing a main product in each class, counted on the register: motor 29, fire 20, crop 19, liability 16, engineering 9, cyber 7, credit 6, marine 5.
How these were classified: the class is inferred from the product's filed name, not from an IRDAI taxonomy. 224 filings could not be classified that way and are excluded from the class figures above.
How the index was built: IRDAI's register is read directly. Its pager is capped, so the register is queried in partitions by product type, financial year and insurer; 792 main products are reachable that way and that is what is counted here.
The add-on covers the market really offers
The optional covers filed by the most separate insurers, counted from the register on 27 October 2026:
Road Side Assistance — filed by 6 insurers.
Involuntary Betterment — filed by 6 insurers.
Loss Of Personal Belongings — filed by 5 insurers.
Escalation Clause — filed by 5 insurers.
Accidental Damage — filed by 5 insurers.
Roadside Assistance — filed by 4 insurers.
Return To Invoice — filed by 4 insurers.
Escalation — filed by 4 insurers.
Emergency Medical Expenses — filed by 4 insurers.
Return To Invoice Bundled — filed by 3 insurers.
Why it matters: an add-on that several insurers file is one the market treats as standard, and one worth asking for by name at renewal. Involuntary betterment, for instance, meets the extra cost when damaged plant cannot be replaced like for like because the technology has moved on — an ordinary indemnity pays only the value of the obsolete machine.
What the standard fire wording actually says
Terrorism, storm-flood-and-inundation and earthquake are compulsory insured perils under the IRDAI standard fire products, not optional extras. On the older Standard Fire and Special Perils policy they were priced add-ons.
Business interruption is excluded from those standard fire products. Consequential loss has to be placed separately, and for a manufacturer it is routinely the larger half of the loss.
Underinsurance under the standard fire wording bites at 85%, not at 100%: the wording waives underinsurance down to 85% of the value at risk and applies the proportion to every claim below that (Bharat Sookshma Udyam Suraksha and Bharat Laghu Udyam Suraksha, clause F(3) and F(4)).
Which of the two standard products applies is set by total value at risk: up to Rs 5 crore, Bharat Sookshma Udyam Suraksha; above that and up to Rs 50 crore, Bharat Laghu Udyam Suraksha. Above Rs 50 crore there is no standard wording, and two quotes at the same premium may not be the same cover.
How these numbers were counted
These figures come from IRDAI's own published registers — the register of insurers and the non-life product filing register — read directly and counted by us. They are not taken from a vendor's study or from another site.
Sources: IRDAI's register of insurers and its non-life product filing register, both at irdai.gov.in. The fire wording points are read from the Bharat Sookshma Udyam Suraksha and Bharat Laghu Udyam Suraksha policy wordings, with the clause cited.
Counting date: 27 October 2026. The figures on this page are recomputed from our index each time it is loaded, so they move as the register moves.
Limits of these figures, stated plainly: class labels are inferred from product names and 224 filings are unclassified; the filing register is queried through a capped pager, so 792 main products are what we can reach rather than a claim about the whole market; and counts of insurers come from the deduplicated register of insurers, because the filing register spells the same company several ways.
How this differs from IRDAI's handbook: IRDAI publishes its own annual Handbook on Indian Insurance Statistics, which is a compendium of audited industry returns released well after the financial year it covers. This page is not that handbook and does not reproduce it. It counts what is on IRDAI's live registers on the date shown, which is why it can be more current and why it answers a narrower question.
If you want a figure here checked, or the underlying UIN and wording for any product, ask us and we will send it.
Frequently asked questions
How many insurance companies are there in India?
IRDAI's register lists 28 general insurers, 8 standalone health insurers and 26 life insurers, plus 3 reinsurer entries, counted on 27 October 2026.
How many insurance products are filed with IRDAI?
We index 3,592 non-life filings, of which 792 are main products and 2,800 are add-on covers. Every one carries a link to its policy wording on irdai.gov.in.
Is this the IRDAI Handbook on Indian Insurance Statistics?
No. The Handbook on Indian Insurance Statistics is IRDAI's own annual publication and is available from irdai.gov.in. This page is counted by RFS from IRDAI's live register of insurers and its product filing register on the date shown, so it answers a narrower question than the handbook does and is usually more current.
Is terrorism cover included in a standard fire policy in India?
Yes. Under the IRDAI standard fire products, terrorism, storm-flood-and-inundation and earthquake are compulsory insured perils. On the older Standard Fire and Special Perils policy they were priced add-ons, so a business that moved across should not still be paying for them separately.
At what point does underinsurance reduce a fire claim in India?
At 85%. The IRDAI standard fire wording waives underinsurance down to 85% of the value at risk; below that the insurer applies the shortfall proportionately to every claim, not only to large ones.
Related: Check whether you are underinsured · Talk to an IRDAI-registered advisor