Life Insurer’s IRDA Claim Settlement Ratios for Financial Year 2014-15

As per IRDA Annual Report for Financial Year 2014-15, Life Insurance Corporation of India (LIC) has got – 98.19%, the highest claim ratio, followed by Max Life – 96.03%. Lowest claim ratio is – 57.14% of Edelweiss Tokio Life, seconded by DLF Pramerica Life – 57.19%.
Maximum claim ratio movement in the last one year – Birla Sun Life (from 14th in FY 2013-14 to 3rd in FY 2014-15) and Aegon Religare Life has moved 7 places up (from 19th in FY 2013-14 to 12th in FY 2014-15). IDBI Federal Life dropped 11 places (from 9th in FY 2013-14 to 20th in FY 2014-15) and TATA-AIA Life dropped 8 places (from 4th in FY 2013-14 to 12th in FY 2014-15) in ladder.