Page 132 - Insurance Statistics 2021

HANDBOOK ON INDIAN INSURANCE STATISTICS 2019-20

TABLE 26: INDIVIDUAL BUSINESS (WITHIN INDIA)(EXCLUDING VIP) -
DETAILS OF FORFEITURE / LAPSED POLICIES IN RESPECT OF NON-LINKED BUSINESS

Insurers Number of policies in '000s
2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20

Aditya Birla Sun Life 363.19 269.03 188.11 169.85 171.44 120.14 98.47

Aegon 30.79 16.72 9.32 11.73 14.29 16.47 13.52
AVIVA Life 74.17 58.08 37.84 27.88 14.24 13.71 13.46

Bajaj Allianz 490.73 371.54 224.86 130.45 66.99 57.37 61.64
Bharti AXA 50.87 62.16 29.17 33.35 46.23 52.93 131.75

Canara HSBC 17.21 16.45 17.54 12.91 14.33 26.48 34.55
Edelweiss Tokio 38.87 50.96 11.06 9.07 11.21 18.36 25.47

Exide Life 101.09 99.21 63.51 40.58 26.46 27.53 32.12
Future Generali 79.56 73.88 50.41 24.90 25.45 39.84 35.21

HDFC 161.42 156.35 112.10 213.59 225.02 241.92 229.17
ICICI Prudential 446.52 405.78 233.89 111.36 158.98 224.81 249.06

IDBI Federal 40.56 40.02 37.46 41.18 40.24 28.74 28.25

IndiaFirst 15.64 25.12 32.24 29.43 41.18 55.66 47.45
Kotak Mahindra 62.69 58.75 56.81 66.22 74.39 78.31 71.10

Max Life 217.45 201.16 200.33 128.22 138.88 147.59 181.80
PNB Metlife 101.47 86.80 63.92 72.99 80.57 77.52 56.16

Pramerica 59.74 39.58 30.26 22.62 20.09 22.17 28.25
Reliance Nippon 466.99 329.04 243.68 178.18 118.14 82.69 78.07

Sahara 35.03 28.16 273.98 8.78 5.40 2.09 0.58

SBI Life 356.41 248.12 452.74 423.55 345.81 281.49 256.99
Shriram 114.37 93.35 116.59 172.75 136.81 122.70 159.46

Star Union Dai-ichi 58.71 52.79 30.62 35.43 42.70 42.92 34.55
TATA AIA 135.00 82.02 41.68 55.23 50.43 51.68 131.06

LIC 15810.61 11259.40 7755.46 7178.67 6408.41 6415.17 7517.35

A policy is treated as lapsed if the premium is not paid within the grace period (generally ranging from 15 to 30 days)
Lapse Ratio during the year = Lapses (including forfeitures) during the year/Arithmetic Mean of the business inforce at the
beginning and at the end of the year
Source of Data: Actuarial Report and Abstract for various years

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