TATA AIA Life Insurance

TATA AIA Life Insurance

Tata AIA Life Insurance Company Limited, a private life insurance company. Which was given the license to do life insurance business in India on 12 February 2001 and this life insurance company is doing life insurance business in India from 01 April 2001. This Life Insurance company includes two big Indian companies Tata Sons Private Limited and a foreign company AIA Group Limited.

Tata Sons Private Limited holds 74 percent stake in this life insurance company and AIA Group Limited holds 26 percent. To know about the company in detail, we have to know about Tata Sons Private Limited and AIA Group Limited one by one. So let's see this information also.

Tata Sons Private Limited:

Tata Sons Pvt Ltd is the parent company of the Tata group and holds major stakes in Tata group companies, including their land holdings, steel plants and tea plantations across India. The Tata Group is a privately owned conglomerate of about a hundred companies, with primary business sectors such as chemicals, consumer products, engineering, etc.

In 1868, Jamsetji Tata founded the Tata Group, headquartered in Mumbai. The Tata Group operates in more than 100 countries across six continents. The main objective of which is to improve the quality of life of various communities and for this, the group serves various communities globally through long-term stakeholder value creation based on leadership with trust.

Tata Sons Private Limited is the principal investment holding company and promoter of Tata companies. 66% of the equity share capital of Tata Sons Pvt Ltd is held by charitable trusts working in the areas of education, health, arts and culture, livelihood generation.

In the financial year 2021-22, the total revenue of Tata companies was ₹9.6 trillion. This company is collectively providing employment to more than 9,35,000 people. This company and its ventures are functioning independently under the guidance and directions of its Board of Directors.

Companies include Tata Consultancy Services, Tata Motors, Tata Steel, Tata Chemicals, Tata Consumer Products, Tata Capital, Tata Power, Indian Hotels, Tata Communications, Tata Digital and Tata Electronics.

About AIA:

AIA is known all over the world as AIA Group Limited. Whose headquarter is located in Hong Kong. It is the largest life insurance group in the Asia-Pacific region. AIA Group Limited, primarily provides insurance and financial services. The AIA was founded on 19 December 1919 by Cornelius Vander Starr in the city of Shanghai, China.

AIA Group Limited is operating in China, Hong Kong SAR, Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, Philippines, South Korea, Sri Lanka, Taiwan, Vietnam, Brunei, Macau SAR and India. The total estimated assets of this company as of 30 June 2022 were US$302 billion.

AIA Group Limited offers a variety of financial plans as well as services like life insurance, health insurance, accident insurance.

Why Tata AIA Life Insurance Company is better:

According to the information available on the official website of the company, till date 29 July 2023, 73,92,538 families have been protected. In the financial year 2021-2022, the ratio of payment of death claim has been 98.53 percent. The company claims that it pays death claims in 4 hours. According to the company, 90% of insurance sales and services are done online.