AUM’s of Life insurers as on Dec’08

Currently in India, 21 life insurers are operating of which 20 are private. Every month, it is mandatory for Mutual Funds to disclose their AUM but not for players operating in the life insurance industry. One can only know about this when quarterly results are declared. So here it is (Only top 10 players). I wish life insurers had given the break-up of assets managed between debt and equity. Thanks to corporate governance issues with ADAG companies, Reliance has for the first time disclosed the information I never expected!

LIC, the BIG boy of Indian equities, manages assets worth Rs 8,06,000 crs

ICICI Pru Life AUM of Rs 28,445.2 crs, of which Rs 14863.3crs in Equity and Rs 13581.8crs in Debt)

SBI Life AUM grew by 80% to Rs 13,272 crs.

Max New York AUM of Rs 4827 crs, up 45% YoY

Reliance Life AUM of Rs 4495 crs, up 57% YoY (of which Rs 2524.4crs in Equity and Rs 1970.6crs in Debt)

Bajaj Allianz AUM stands at around Rs 13,152.6 crs

Birla Sun Life AUM is Rs 7958.5 crs, up 21% YoY

HDFC Standard Life AUM stands at around Rs 9,500 crs

(The company has not declared any official figures for Dec quarter. But they did announce an AUM of 10k crs in Sept’08 with 55% of assets under equity. Since then, Index have fallen 33% by the end of Dec’08. So my sense is that AUM would be around that figure considering new premium inflows and gains in debt investments)

Kotak Life manages assets worth Rs 3374 crs.

Tata AIG AUM stands at over Rs 4000 crs

Just to compare with Life insurance industry, Indian Mutual Funds managed assets worth Rs 4,18,336crs as on 31st Dec’08 whereas life insurers manages almost 9,00,000 crs worth of assets!!

On the liquidity side, my calculations show that private life insurers are sitting on Rs 5000-5500crs (over $1bn) cash as on 31st Dec’08 waiting to be invested in the equity markets.


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