ICICI Prudential Life Insurance has been awarded the 'Insurance Company of the Year Award' by India Insurance Review and Celent.
In total 23 awards were given out across the life, health and general insurance segments to over 18 best performing insurers in the country in the 'India Insurance Award'.
Further, HDFC Standard Life Insurance Company was awarded the best company for product innovation during 2011 for its product offering HDFC SL Crest.
Among the other companies, Reliance Life Insurance was awarded the best company in the sector of 'Non-Urban Coverage' for 2011.
In the general insurance segment, Bajaj Allianz General Insurance Company has been awarded the best general insurance company.
Besides, Tata AIG General Insurance was given the award for 'Best Product Innovation' and United India Insurance for 'Best Non-Urban Coverage 2011'.
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Bharti AXA General Insurance company has been awarded for the growth in the 'Personal Lines' or the retail category. The award for 'Commercial Lines' or institutional category was given to Reliance General Insurance Company Ltd.
"The award has been instituted to recognise and honour the efforts of insurance companies across various important parameters and will become the aspirational benchmark for insurance companies in the years ahead," said Shirish Pathak, Managing Director, SP Media, the Publisher of India Insurance Review said.