5 Most Searched Insurance Stocks In India

After covid19 pandemic there has been an increase in insurance awareness among individuals. They have started taking at least health insurance and term insurance to protect their families. This has led to growth in the insurance sector in India and has caught the attention of investors to consider insurance stocks. 

If you are also planning to invest in insurance stocks, you have come to the right place. In this article, we will discuss the top 5 most searched insurance stocks in India.

5 Popular Searched Insurance Stocks in India 

Here is a list of the 5 most searched insurance stocks in India. 

1. Life Insurance Corporation (LIC) 

LIC is India’s most popular and most trusted insurance company. It is owned by the Government of India and provides life insurance plans. As of now, LIC has 2048 branch offices and 113 divisional offices to serve its customers. 

The company offers a variety of insurance plans like Money Back Plans, Endowment Plans, Term Plans, Unit Plans, Whole Life Plans etc. 

• LIC Share Price as of July 2023: ₹598+
• Market Cap: ₹395280 Cr 

2. Bajaj Finserv

Bajaj Finserv is one of the most diversified NBFCs which offer loans, wealth advisory and insurance. The company came into existence in April 2007 and has its headquarters in Pune. 

• Bajaj Finserv Share Price as of July 2023: ₹1472+
• Market Cap: ₹239233 Cr. 

3. HDFC Life

HDFC Life is one of the leading insurance companies in India. It is a joint venture between HDFC Ltd and Abrdn (Mauritius Holdings) 2006 Limited. The company came into existence in the year 2000 and is headquartered in Mumbai. It offers more than 60 life insurance products and optional riders in addition to that. 

• HDFC Life Share Price as of July 2023: ₹680+
• Market Cap: ₹134774 Cr. 

4. SBI Life

SBI Life is formed by the partnership between BNP Paribas Cardif and the State Bank of India. The company has an important position in the insurance industry. SBI Life was established in October 2000 and is headquartered in Mumbai. It has a ‘Customer-First’ approach and focuses on providing the best services. 

• SBI Life Share Price as of July 2023: ₹1243+
• Market Cap: ₹126391 Cr. 

5. ICICI Prudential       

ICICI Prudential Life Insurance Company came into existence through the joint venture of Prudential plc and ICICI Bank. It was the first private sector life insurance company in India to receive approval from IRDA. ICICI Prudential is the first Insurance company in India to get listed on the Indian stock markets as well. The company started its operation in December 2000. 

• ICICI Prudential Share Price as of July 2023: ₹575+
• Market Cap: ₹80021 Cr. 

Conclusion 
The demand for insurance products in India is likely to increase as insurance penetration increases with awareness among individuals. India’s large population is an added benefit to the insurance sector and also an important factor for its growth. 

If you are planning to invest in insurance stocks, this article can serve as your guide. You can use an online stock trading app like Dhan to make your move and leverage this sector for your financial aspiration.