Joint Ventures Insurance Companies
Here we are providing you a list of Joint Venture Insurance Companies in India will be useful for various insurance sector recruitment exams.
We hope this list of important Insurance Joint Venture proves helpful for reading and revising study material for insurance and banking sector.
List of Important Joint Venture Insurance Companies in India:
- Aviva India is an Indian life assurance company, and a joint venture between the Aviva plc., which is a British assurance company, and the Dabur Group, an Indian conglomerate.
- AEGON Religare Life Insurance is a joint venture between AEGON, Religare and Bennett, Coleman &
company - Bajaj Allianz Life Insurance Company Limited is a joint venture insurance company between the Bajaj Finserv Limited (which recently emerged from the Bajaj Auto Limited) and the Allianz.
- Birla Sun Life Insurance Company Limited ( BSLI) is a joint venture between the Aditya Birla Group, an Indian conglomerate and the Sun Life Financial Inc, which is a leading international financial services organization of Canada.
- Bharti AXA General Insurance Company Ltd is a joint venture between Bharti Enterprises, a leading Indian business group and AXA, a world leader in financial protection. The joint venture company has a 74% stake from Bharti and 26% stake of the AXA Group.
- Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited was launched on 16 June 2008 and is a Joint Venture between Canara Bank (holding 51%), HSBC Insurance (Asia Pacific) Ltd (holding 26%), the Asian insurance arm of one of the world’s largest banking and financial services groups – HSBC and Oriental Bank of Commerce (holding 23%).
- Cholamandalam MS General Insurance Company (Chola MS) is a joint venture between the Murugappa Group, an Indian conglomerate, and the Mitsui Sumitomo Insurance Group (MSIG), which is a Japanese assurance company.
- Cigna TTK is an Indian health insurance firm which is established as a joint venture between the Cigna, a global insurance player and the TTK Group, which is an Indian conglomerate.
- Exide Life Insurance Company Limited is a Bengaluru based life insurance company founded in 2001, formerly known as ING Vysya Life Insurance Company Limited. It began as a joint venture between ING Vysya Bank and Exide Industries Ltd. after ING Vyasya divested from it, it is now fully owned by Exide Industries Ltd.
- Edelweiss Tokio Life Insurance is a Life Insurance joint venture between Edelweiss Financial Services, Mumbai & Tokio Marine Holdings Inc, Japan.
- EGON Religare Life Insurance is a joint venture of AEGON, Religare and Bennett, Coleman & company.
- Future Generali Life Insurance is a joint venture between three leading groups: Future Group – A leading retailer of India, Generali Group – A global insurance group that features among the top 50 largest companies of the world an Industrial Investment Trust Limited (IITL) – A leading investment
company. - HDFC Life -It is a joint venture between the Housing Development Finance Corporation (HDFC), which is one of India’s leading housing finance institution and the Standard Life plc., which is a leading provider of financial savings & investments services in United Kingdom. HDFC Ltd. holds 72.37 percent and Standard Life (Mauritius Holding) Ltd. holds 26 per cent of equity in this joint venture, while rest is held by others.
- HDFC ERGO General Insurance Company is a 74:26 joint venture between the HDFC, which is India’s premier Housing Finance Institution and the ERGO International AG, the primary insurance entity of Munich Re Group.
- IDBI Federal Life Insurance Co. Ltd.,(formerly IDBI Fortis Life Insurance) is a joint venture between three financial companies – development and commercial bank, IDBI Bank, India’s public sector bank, Federal Bank and European insurer Ageas (formerly Fortis), which was formed on March 2008. In this venture, IDBI Bank owns 48% equity while Federal Bank and Ageas own 26% equity each.
- ICICI Prudential Life Insurance Company (ICICI Prudential Life) is a joint venture of ICICI Bank, which is India’s largest private sector bank, and Prudential plc , which is a leading international financial services group with its headquarters in the United Kingdom.
- ICICI Lombard General Insurance Company Limited is a joint venture between the ICICI Bank Limited, India’s second largest bank and the Fairfax Financial Holdings Limited, which is a Canada based diversified financial services company.
- IFFCO Tokio General Insurance is a joint venture between the Indian Farmers Fertiliser Cooperative (IFFCO) and the Tokio Marine and Nichido Fire Group.
- Liberty Videocon General Insurance is a joint venture between the Boston based insurance company Liberty Mutual Insurance Group and India based Videocon Industries. It is based in Mumbai.
- Max Life Insurance, one of the life insurers, is a joint venture between Max India Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max India is an Indian multi-business corporate, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, a general insurer.
- Max Bupa Health Insurance Company Limited is a joint venture insurance company between Max India Limited and Bupa Finance plc., based in UK .
- Magma HDI General Insurance Co Ltd. is a joint venture between Magma Fincorp Ltd, Kolkata and HDI-Gerling Industries Versicherung AG Germany.
- Star Union Dai-ichi Life Insurance Co. Ltd. ( SUD Life ) is a joint venture of Bank of India, Union Bank of India and Dai-ichi Life, which is a leading life insurance company of Japan.
- SBI General Insurance Company Limited is a joint venture of the State Bank of India and Insurance Australia Group (IAG). In this, SBI owns 74 per cent of the total capital and IAG owns the remaining 26 per cent.
- Star Health and Allied Insurance Co Ltd is a joint venture between the Oman Insurance Company UAE, along with leading NRIs and an Indian company. It is a special purpose vehicle formed by a group of business tycoons for working in the health insurance sector.
- Tata AIG General Insurance Company Limited is an Indian general insurance company. Which is a joint venture between the Tata Group and the American International Group (AIG). The Tata Group holds 74 % stake in the insurance venture with AIG holding 26 %.
- Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Ltd. and AIA Group Ltd. (AIA)
