The life insurance industry is witnessing a huge decline in the number of Individual agents. Almost 1.75 lakh agents have been exited from records across all life insurance companies in the period April to June 2015.
The highest attrition was seen in LIC where 79,129 agents have been reported as deleted till 30 June 2015. Among the private players, Bajaj Allianz Life had the highest agent attrition reporting a count of 29,025 exits.
Below displayed is the snapshot of Individual Agents of Life Insurers for the period ended 30th June 2015. Agency channel is one of the key distribution channels of life insurance companies and insurers will be on a recruiting spree to cover up lost ground.
Snapshot of Individual Agents of Life Insurers for the period ended 30th June 2015:
Sr. No
Insurers
No. of agents as of
Additions up to June
Deletions up to June
Net No. of agents as on
April 01, 2015
2015
2015
30-06-2015
1
Bajaj Allianz Life
120982
5245
29025
97202
2
Tata AIA Life
40993
2884
15351
28526
3
Reliance Life
105022
7067
15142
96947
4
SBI Life
83656
6740
9238
81158
5
Max Life
43505
5551
5873
43183
6
PNB Met Life
17017
1811
5345
13483
7
Kotak Mahindra Life
55548
8211
4446
59313
8
Future Generali Life
17150
846
3633
14363
9
IndiaFirst Life
4325
47
2248
2124
10
Bharti Axa Life
19132
2274
2117
19289
11
Aviva Life
18935
995
1051
18879
12
Exide Life
32285
6478
413
38350
13
Star Union Dai – ichi Life
8167
304
383
8088
14
Aegon Religare Life
7973
610
356
8227
15
ICICI Prudential Life
132463
4128
272
136319
16
Birla Sun Life
90537
5456
217
95776
17
HDFC Life
65214
3090
199
68105
18
Shriram Life
4460
0
58
4402
19
IDBI Life
13089
1111
45
14155
20
Edelweiss Tokio Life
10421
671
12
11080
21
Sahara Life
11362
9
7
11364
22
DHFL Pramerica Life
1995
320
4
2311
23
Canara HSBC Oriental
0
0
0
0
Total – Private
904231
63848
95435
872644
24
LIC of India
1163604
49976
79129
1134451
Grand Total
2067835
113824
174564
2007095
