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Claim Settlement Ratio 2026 — Indian Life Insurers (IRDAI FY 2024-25 Data)

Exact IRDAI-published claim settlement ratios for 22 major Indian life insurers for FY 2024-25, sortable by CSR or claim volume. Includes caveats on how to actually read these numbers — CSR alone isn't the full story.

Last reviewed 20 April 2026·Source: IRDAI Handbook on Indian Insurance Statistics 2024-25, Part I Table 15·22 insurers covered

How to actually read this table

1. CSR is not the probability your claim will pay. It's the fraction of individual death claims the insurer settled (paid out) against total claims available for disposal in FY 2024-25, per IRDAI Table 15. Your claim's outcome depends on disclosure accuracy, policy-term compliance, and document quality — all factors this number does not capture.

2. Sample size matters. LIC settles over 848,000 death claims per year — a 97.59% ratio on that volume is statistically far more reliable than a 99.73% ratio on 365 claims at a smaller insurer. Prefer 3-year trends over any single-FY snapshot for insurers with under 2,000 annual claims.

3. Repudiated is NOT (total − paid). IRDAI splits the residual into pending-at-end, repudiated, rejected, and unclaimed. The repudiated column here is the strict denial category. A high repudiation rate matters more than the headline CSR when evaluating disclosure risk.

4. One year is a snapshot. A good claims reputation requires 3+ consecutive years near the top. This page uses the latest single-FY IRDAI number for strict source consistency; cross-check insurer-published 3-year averages before finalising your choice. We refresh annually when IRDAI publishes the next Handbook.

Individual death claim data · FY 2024-25

RepudiatedNotes
Bandhan99.73%3643651Very small claim volume (<500); the headline ratio is statistically noisy and a 3-year trend matters more.
Axis Max Life99.70%20,16520,22560—
HDFC Life99.68%19,66619,72958—
PNB Met Life99.57%5,6155,63924—
Canara HSBC99.43%2,7712,78716—
Tata AIA99.41%8,5268,57749—
ICICI Prudential99.31%12,31912,40582—
Bajaj Allianz99.29%13,99414,09496—
Edelweiss Life99.29%5565604Small claim volume (<1,000); single-FY ratio is statistically noisier than a 3-year average.
Bharti Axa99.18%2,0682,08517—
Pramerica Life99.18%7227284Small claim volume (<1,000); single-FY ratio is statistically noisier than a 3-year average.
Aviva99.07%7477547—
Reliance Nippon98.93%8,2868,37688—
Star Union98.84%2,3852,41326—
Aditya Birla Sun Life98.65%6,2756,36180—
Kotak Mahindra98.61%4,6134,67862—
Ageas Federal98.52%1,1281,14514—
SBI Life98.34%44,20544,949524—
Shriram98.31%4,7704,85268—
India First98.22%3,6403,70661—
Future Generali98.08%92093814—
Life Insurance Corporation of India97.59%8,48,1458,69,0869,137LIC settles ~40× more death claims than any single private insurer; the ratio is applied to a much larger denominator, so the absolute-scale interpretation is different from small private insurers.

Click any column header to sort. All numbers are exact-from-source — paid / total claim counts are lifted directly from IRDAI Handbook Table 15; the CSR column is computed as paid / total × 100 using those exact values.

What this table doesn't tell you

  • Time to settle after approval. CSR is a count ratio, not a timing metric. Two insurers with identical CSR can differ meaningfully on days-to-payout. IRDAI Table 15 does publish a pending-duration breakup (<3 months, 3-6 months, 6-12 months, >1 year); we'll surface that in a follow-up.
  • Repudiation reasons. The quality of rejections matters: an insurer that rejects mostly on non-disclosure or fraud is exercising standard underwriting; one rejecting on ambiguous policy wording is harder to trust. Review the insurer's published repudiation-cause breakdown, not just the headline CSR.
  • Product design. A policy with narrow exclusions, long waiting periods, or aggressive sub-limits will mechanically pay fewer claims regardless of the insurer's willingness. Size cover against your needs first, then check CSR as a secondary filter.
  • Health and general insurers. This page covers life insurers only. Health insurance "CSR" numbers commonly quoted in the market (e.g. "Acko 99.98%") are actually the percentage of claims paid within 3 months — a speed metric, not a ratio-of-paid-claims metric. We're adding a properly-labelled health insurer section in a follow-up PR rather than mix incompatible metrics.
  • CSR by benefit amount. IRDAI also publishes CSR by the ₹ value of claims paid. For life insurers this is usually a few points lower than CSR-by-policies because large individual claims take longer to settle. Check both if you hold a high-sum-assured policy.

Size the right cover, then check CSR

CSR matters only once you've locked the right cover amount. Start with these calculators, then shortlist 2-3 insurers with consistent multi-year CSR.