IndiaFirst Life Insurance Company Limited
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IndiaFirst Life Insurance Company Limited - overview
Established
2009
Location
Mumbai, Maharashtra, India
Primary Industry
Insurance
About
IndiaFirst Life Insurance Company Limited provides comprehensive life insurance solutions aimed at ensuring financial security for individuals and families across various life stages in India. IndiaFirst Life Insurance Company Limited, founded in 2009, is headquartered in Mumbai, India. The company offers life insurance products and has not undergone any significant business pivots. It remains a subsidiary of Bank of Baroda, which acquired a 21% minority stake in the company through a TRADE SALE in March 2022, raising INR 7.
663 billion. The CEO of the company is Rushabh Gandhi. IndiaFirst Life Insurance Company Limited offers a diverse range of life insurance products designed to meet the financial security needs of individuals and families. Their core offerings include term insurance, endowment plans, Unit Linked Insurance Plans (ULIPs), retirement and pension plans, and child insurance plans.
The flagship IndiaFirst Life Elite Term Plan ensures high coverage at an affordable premium for beneficiaries. Additionally, the IndiaFirst Life Radiance Smart Invest Plan combines life insurance with investment opportunities, serving a wide customer base across urban and rural India. In the most recent financial year, 2022, IndiaFirst Life Insurance Company reported a revenue of INR 695,590,301 with an EBITDA of INR -37,805,546. The company generates revenue through the sale of life insurance products, including individual and group insurance plans, and employs a structured transaction model that maximizes accessibility for various customer segments.
IndiaFirst Life Insurance Company plans to introduce new products and expand into new markets by 2023. Following the TRADE SALE in March 2022, the funds raised will be utilized to support the development of innovative insurance products and to enhance the company’s presence in both urban and rural markets across India.
Current Investors
Warburg Pincus
Primary Industry
Insurance
Sub Industries
Life Insurance
Website
www.indiafirstlife.com
Total Amount Raised
Subscriber access only
IndiaFirst Life Insurance Company Limited - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Trade Sale | Completed | IndiaFirst Life Insurance Company Limited | - | ||||||||
| Buyout | Completed | IndiaFirst Life Insurance Company Limited | - |
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