Top Health Insurance Companies in India | Market Leaders & Growth Insights 2025

Top Health Insurance Companies in India

In recent years, it has been observed that the India health insurance industry has grown significantly, and a major contribution to the market is by the major players. The major companies in the market include insurance companies, healthcare professionals, technology companies, and public institutions. Insurance companies have been at the forefront of providing health insurance coverage to individuals and families in India. With growing healthcare costs as well as an expansion in awareness about the significance of having health insurance, more people in the country are opting for different health insurance plans offered by companies. 

Medical service providers like hospitals and clinics have a significant role to play in India health insurance market growth. By connecting with insurance companies as well as offering services without cash, providers in the market have made healthcare more accessible and cost-effective to the population they provide. According to 6Wresearch, India Health Insurance Market size is expected to grow at a CAGR of 5.7% during 2025-2031. 

List of the Leading Companies in the India Health Insurance Market

1. The New India Assurance Company Limited (NIACL)

The New India Assurance Company Limited is the largest general insurance company in India, offering a wide range of policies, including health insurance. It provides cashless medical treatments at over 6000 hospitals across India and has an extensive network of agents and offices.

2. National Insurance Company Limited (NICL)

National Insurance Company Limited is one of the oldest general insurance companies in India, providing various types of insurance, including health insurance. It offers comprehensive health coverage plans for individuals, families, and groups with affordable premiums.

3. Oriental Insurance Company Limited (OICL)

Oriental Insurance Company Limited is a state-owned general insurance company that offers various health insurance policies for individuals, families, and groups. It has a strong presence in rural areas of India and provides affordable health coverage plans with extensive benefits.

4. United India Insurance Company Limited (UIICL)

United India Insurance Company Limited is one of the leading public sector general insurance companies in India. It offers a range of health insurance policies with features like cashless treatment, pre-existing disease coverage, maternity benefits, and more.

5. HDFC Ergo General Insurance Company Limited

HDFC Ergo General Insurance Company Limited is a joint venture between HDFC Ltd. and Ergo International AG, providing various types of insurance, including health insurance. It offers customized health plans with features like lifelong renewability, no-claim bonus, cashless hospitalization, etc.

6. Star Health and Allied Insurance Company Limited

Star Health and Allied Insurance Company Limited is India's first standalone health insurance company, offering a wide range of health insurance plans for individuals, families, senior citizens, and corporate employees. It has tie-ups with over 9000 hospitals across India for cashless treatments.

7. ICICI Lombard General Insurance Company Limited

ICICI Lombard General Insurance Company Limited is one of the leading private sector general insurance companies in India. It offers a range of health insurance policies with extensive benefits like daycare treatments, OPD expenses coverage, maternity benefits, etc.

8. Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Ltd. and Allianz SE, offering various types of insurance, including health insurance. It offers comprehensive health plans with features like wellness coach, critical illness coverage, global emergency cover, etc.

9. Reliance General Insurance Company Limited

Reliance General Insurance Company Limited is a part of Reliance Capital Ltd., providing various types of insurance, including health insurance. It offers affordable health plans with features like quick claim settlement, cashless benefits, and extensive coverage for critical illnesses.

10. Apollo Munich Health Insurance Company Limited

Apollo Munich Health Insurance Company Limited is a joint venture between Apollo Hospitals Group and Munich Health, offering a range of health insurance policies. It provides innovative products like personal accident plans, international travel insurance, and critical illness coverage. 

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