As of the end of March 2023, Bajaj Allianz Life Insurance Company Ltd. had the highest solvency ratio of 5.16 percent. Whereas, Life Insurance Corporation of India had a solvency ratio of 1.87 percent. A higher solvency ratio indicates that the insurer is more likely to pay claims and manage financial costs. The solvency ratio factors in net income, depreciation, and liabilities of the insurer.
Solvency ratio of life insurers in India as of March 2023
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IRDA (India). (December 26, 2023). Solvency ratio of life insurers in India as of March 2023 [Graph]. In Statista. Retrieved December 09, 2024, from https://www.statista.com/statistics/1414024/india-solvency-ratio-of-life-insurers/
IRDA (India). "Solvency ratio of life insurers in India as of March 2023." Chart. December 26, 2023. Statista. Accessed December 09, 2024. https://www.statista.com/statistics/1414024/india-solvency-ratio-of-life-insurers/
IRDA (India). (2023). Solvency ratio of life insurers in India as of March 2023. Statista. Statista Inc.. Accessed: December 09, 2024. https://www.statista.com/statistics/1414024/india-solvency-ratio-of-life-insurers/
IRDA (India). "Solvency Ratio of Life Insurers in India as of March 2023." Statista, Statista Inc., 26 Dec 2023, https://www.statista.com/statistics/1414024/india-solvency-ratio-of-life-insurers/
IRDA (India), Solvency ratio of life insurers in India as of March 2023 Statista, https://www.statista.com/statistics/1414024/india-solvency-ratio-of-life-insurers/ (last visited December 09, 2024)
Solvency ratio of life insurers in India as of March 2023 [Graph], IRDA (India), December 26, 2023. [Online]. Available: https://www.statista.com/statistics/1414024/india-solvency-ratio-of-life-insurers/