We’re Built on the Foundation of Trust

Headquartered in Mumbai with a paid-up share capital of INR 754.37 crore, IndiaFirst Life Insurance Company Limited (IndiaFirst Life) is one of the fastest-growing private life insurers in India. Our key differentiators are our simple and easy-to-understand products that are optimally priced.

IndiaFirst Life Insurance Company Ltd, a domestic subsidiary of Bank of Baroda. IndiaFirst Life Insurance came into existence in November 2009, as the 22nd entrant in the private Life Insurance Industry. As on 31 March 2025, it’s New Business Individual Retail Premium stood at INR 1,425 Crores & Total Premium stood at INR 7,218 Crores. Today, IndiaFirst Life Insurance services over 16 Mn customers spread across 90%+ of India’s pin codes. IndiaFirst has diverse workforce of ~4,600 PAN India. It also has robust network of ~22,000 Partner branches along with ~115 Third party distributors & Corporate agents covering every nook and corner of India. IndiaFirst Life Insurance has also built a strong network of ~1,880 agents which completes our Distribution ecosystem.

Our initial shareholders were Bank of Baroda, Andhra Bank (now, Union Bank of India), and Legal & General Middle East Limited. In February 2019, Legal & General sold its stake to Carmel Point Investments India Private Limited, a private limited company incorporated under the laws of India and affiliate of the Warburg Pincus Group. In April 2020, Andhra Bank was amalgamated into The Union Bank of India. Our current shareholding pattern is as follows:

Bank of Baroda – 65%
Union Bank of India – 9%
Carmel Point Investments India Private Limited – 26%

The difference is in the experience

As of September 30, 2024, we offered 32 retail products, 15 group products and 8 riders (across retail and group portfolios) catering to the protection, savings, and retirement needs of customers. We also offer policies under the PMJJBY scheme, leveraging multiple distribution capabilities and enhancing various investment options. In accordance with the 2024 IRDAI Regulations, we are in the process of revamping all our products to ensure compliance and alignment with the updated guidelines. Under the new regulatory regime, our products are more customer-centric, with lower penalties on early exits.

We offer a complete suite of offerings under the following categories: Participating Plans, Non-Participating Savings Plans, Non-Participating Protection Plans, Unit Linked Insurance Plans, Group Protection Plans, Corporate Funds Plans, Riders and PMJJBY. These categories form a comprehensive suite of offerings that help our customers prepare for the certainties of life. Our products are easy to understand and optimally priced with a developed comprehensive risk management framework/policy. By offering a wide range of products, we ensure that our customers can choose the plan that best suits their needs and budget.

People Matter

At IndiaFirst Life, we believe our culture is not just a statement—it’s a verb, a living and breathing part of our everyday. Our people are at the heart of everything we do, and their passion and commitment drive our success. Guided by our core philosophy of #EmployeeFirst, we continue to cultivate a work culture that is Happy, Passionate, and Connected.

We define our Employee Value Proposition (EVP) as a balance between what an employee gives and what they get. Employees bring to life our values—Think New, Be Helpful, Be Honest, and Do More—and in return, they experience C.A.R.E.: Celebrating People and Success, Accelerating Growth, Recognising Achievements, and Empowering Employees. These principles form the foundation of our culture and are reflected in every initiative, policy, and interaction.

Thanks to our unwavering commitment to our core philosophies of #CustomerFirst and #EmployeeFirst, IndiaFirst Life has been certified as a Great Place to Work® for seven consecutive years and was featured among the Top 50 of India’s Best Workplaces in BFSI in 2025.

Our people initiatives are designed with intention and impact—from onboarding to upskilling, from engagement to empowerment:

• Eight Imperatives: Our Imperatives serve as everyday guiding principles, empowering employees to take ownership, stay resilient, and deliver with Right Intent and Superior Execution.
• Pre-Hiring Value Fitment Assessments: We align prospective employees to our culture from day one using a customized psychometric tool.
• Amber, Our AI Chat Bot: We capture employee feedback, sentiments and trends that helps us to proactively enhance employee morale. Employees also have the option to share concerns directly with our CHRO through an anonymous chatbot—reinforcing trust and psychological safety.
• Employee Recognition: Our flagship programs like AchieversFirst and ValuesFirst celebrate employees who consistently embody our core values with envy worthy national and international trips, making recognition a meaningful and unforgettable experience.

Our commitment to Learning and Growth is embedded in everything we do. Programs like PRIME, RISE, and N-E-X-T support leadership capability and career growth at every level. We also invest in certifications, mentorship journeys, and real-time sales coaching tools. Our platforms like DART and ECHO bring real-time performance visibility and encourage employee-led innovation.

We’ve also enhanced our DEIB framework, embedding inclusive practices into hiring, learning, policy-making, and celebrations. We are proud of our efforts to promote equity and psychological safety across every role, function, and level.

At IndiaFirst Life, we continue to balance performance with EmployeeFirst practices, ensuring every employee has the opportunity to thrive, contribute meaningfully, and feel a strong sense of purpose. This is not just a workplace—it’s a place where culture drives strategy, and people drive success.

Customer First Philosophy

We deliver value through leading digitalization initiatives across the complete value chain. This stems from our #CustomerFirst ideology. We believe in reiterating the philosophy with which we treat our customers. Our "Circle of Trust" proposition acts as a beacon for how we conduct ourselves: every behaviour is guided by the intent to earn trust.

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