Daiichi Life is the largest shareholder in SUD Life, a life insurance joint venture with Bank of India and Union Bank of India based in Navi Mumbai. The insurer sells mainly through the branch networks of its two promoter banks, while Daiichi Life supports product development and reinsurance.
Ownership and structure
Dai-ichi Life holds 47.42 percent of Star Union Dai-ichi Life Insurance as of March 31, 2026, with Bank of India holding 27.48 percent and Union Bank of India 25.10 percent.
What India does for Dai-ichi Life
India is a life insurance market for Dai-ichi Life, served mainly through the branches of its two partner public sector banks.
Investment and deals
In 2016 Dai-ichi Life bought an 18 percent stake in Star Union Dai-ichi Life from Bank of India for about Rs 540 crore.
Dai-ichi Life's India business
SUD Life was incorporated in Mumbai in September 2007 and received its IRDAI registration in December 2008. Daiichi Life started with a 26% stake and held 47.42% as of 31 March 2026, alongside Bank of India at 27.48% and Union Bank of India at 25.10%.
Gross written premium reached Rs 9,592 crore in FY2026, up from Rs 8,260 crore in FY2025. Bancassurance accounted for 85.8% of individual new business premium in FY2026.
Key moves in India
- 2007: Star Union Dai-ichi Life Insurance was incorporated in Mumbai in September.
- 2008: The insurer received its IRDAI registration in December.
- 2009: The insurer launched with Dai-ichi Life holding 26 percent.
- 2016: Dai-ichi Life bought 18 percent from Bank of India, raising its stake to 44 percent.
- 2026: Dai-ichi Life held 47.42 percent as of March 31 after subscribing to Bank of India's share of a capital raise.
Where it operates
Dai-ichi Life runs its India business from Navi Mumbai.
At a glance
- Home country: Japan
- Global headquarters: Tokyo
- Sector: Banking & Financial Services
- Business: Insurance
- Role of India: Sales market, Financial services franchise
- India entity: Star Union Dai-ichi Life Insurance Company Limited
- India head office: Navi Mumbai
- India offices: Navi Mumbai
- India headcount: Not available
- In India since: 2007
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