Star Union Dai-ichi Life Insurance Company

What Star Union Dai-ichi Life Insurance Company does

Star Union Dai-ichi Life Insurance Company Limited (SUD Life) is a private life insurer incorporated in India in 2007 as a joint venture between Bank of India, Union Bank of India, and Dai-ichi Life International Holdings LLC. It is registered in Maharashtra and headquartered in Navi Mumbai, serving individual consumers, families, retirees, NRIs and OCIs, and groups through term protection, savings, market-linked, health, retirement, child, credit-life, and group insurance products.

The product portfolio includes multiple pure-term and return-of-premium plans, ULIPs including a dollar-denominated GIFT City offering, savings and child plans, fixed-benefit health plans, pension and annuity products, group life and employee benefits, and riders. Recurring policy premiums are the core commercial input, with ULIPs also generating fund-management charges; pricing varies by product, age, sum assured, policy term, and payment mode, with monthly through annual options and an example e-Lifeline price of ₹585 per month for ₹1 crore of cover.

Distribution combines direct online sales through bol.sudlife.in, 20,000+ branches and distribution points across India, Bank of India and Union Bank of India bancassurance, and licensed advisors. The technology layer includes an AI-enabled English-and-Hindi voice bot using speech recognition and speech synthesis, a claims-management portal, digital application and illustration tools, auto-debit enrollment, and payout-process automation. SUD Life reports more than 1.52 crore lives covered, assets under management above ₹31,000 crore, gross premium of ₹8,260 crore through March 31, 2025, and a 99.01% individual claims settlement ratio as of March 31, 2026.

Name

Star Union Dai-ichi Life Insurance Company

Legal name

Star Union Dai-ichi Life Insurance Company Limited

Website

https://www.sudlife.in/home

Company type

Private

Founded year

1902

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Star Union Dai-ichi Life Insurance Company is a leading life insurance banking company located in Navi Mumbai.

Ownership category

akta.pro rank

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Life Insurance Carriers (524113), Direct Health and Medical Insurance Carriers (524114)

SIC

Life Insurance (6311)

akta.pro primary industry

Group Term Life Insurance (FSAIAAAJ)

akta.pro secondary industries

Universal Life (UL) Insurance (FSAIABAB), Whole Life / UL Policy Riders & Add-ons (e.g., Waiver of Premium, Accidental Death, Child Term, LTC/Chronic Illness) (FSAIABAK), Whole Life Insurance (FSAIABAA)

Keywords

• Life insurance products
• Term insurance plans
• Unit-linked insurance plans
• Pension and retirement plans
• Health insurance plans

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Revenue model

1. Term Life Insurance Premiums: Recurring premium payments from term life insurance policies including pure term plans, return of premium plans, and term plans with riders
2. ULIP (Unit Linked Insurance Plan) Premiums: Market-linked investment products combining insurance with investment in equity/debt funds, generating premiums plus fund management charges
3. Savings Insurance Plans: Traditional savings plans with guaranteed returns, endowment plans, and money-back plans generating recurring premiums
4. Health Insurance Premiums: Fixed-benefit health insurance plans covering critical illness, hospitalization, and accident benefits
5. Pension/Retirement Plans: Unit-linked pension plans and annuity products for retirement planning
6. International/Dollar-Denominated Plans: GIFT City-based dollar-denominated ULIP products for NRIs offering international investment exposure

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

Star Union Dai-ichi Life Insurance Company (SUD Life) sells and underwrites life insurance and related protection, savings, and investment products to Indian retail and group customers. Its portfolio spans term insurance plans, ULIPs, traditional savings and money-back plans, health and critical illness covers, child plans, pension and annuity products, credit life cover, and group life and retirement schemes, distributed through bank partners (Bank of India, Union Bank of India), a dedicated advisor network, and its own digital sales platform.

Product overview

Star Union Dai-ichi Life Insurance Company (SUD Life) operates as a joint venture between Bank of India, Union Bank of India, and Dai-ichi Life International Holdings, offering a comprehensive life insurance product portfolio. The product suite spans multiple categories: term insurance plans (including pure protection, return of premium, and women-specific offerings such as SUD Life e-Lifeline, SUD Life Sarva Suraksha Bima, SUD Life Assured Term Plan, and SUD Life Smart Term Return of Premium); ULIP/market-linked investment plans (including SUD Life E-Wealth Royale, SUD Life Star TULIP, SUD Life Wealth Creator, and SUD Life International Wealth Creator for GIFT City dollar-denominated investments); retirement/pension plans (including SUD Life Pension Plus and SUD Life Immediate Annuity Plus); health insurance plans (including SUD Life Smart Healthcare and SUD Life Health Assure with critical illness coverage); child and savings plans (including SUD Life Fortune Royale and multiple SUD Life Century series products); and group insurance solutions including Pradhan Mantri Jeevan Jyoti Bima Yojana. The company also offers various individual and group riders for enhanced protection. Technology initiatives include a proprietary AI-enabled voice bot for customer service. The company reports 1.52+ crore lives covered, 20,000+ distribution points, and 99.01% claim settlement ratio.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 99.01% Individual Claims Settlement Ratio (as of March 31, 2026)
• +4 more outcomes

Named customers3 records

Segments7 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Bank of IndiacoreOthersBank of India is one of the three joint venture partners in Star Union Dai-ichi Life Insurance Company. The trade logo belongs to Bank of India and is being used by SUD Life under license. Bank of India branches serve as distribution channel for insurance products through bancassurance.
• Union Bank of IndiacoreOthersUnion Bank of India is one of the three joint venture partners in Star Union Dai-ichi Life Insurance Company. The trade logo belongs to Union Bank of India and is being used by SUD Life under license. Union Bank of India branches serve as distribution channel for insurance products through bancassurance.
• Dai-ichi Life International Holdings LLCcoreOthersDai-ichi Life International Holdings LLC (Japan) is one of the three joint venture partners bringing international insurance expertise and technology to SUD Life. The trade logo belongs to Dai-ichi Life International Holdings LLC and is being used by SUD Life under license.
• UBS ForumsminorOthersSUD Life received the 'Best Use of Technology to Enhance Customer Experience' award at UBS Forums for their AI-enabled voice bot and customer experience improvements.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Life Insurance Corporation of India (LIC): State-owned, market-dominant Indian life insurer and the largest peer by premium and agency force. Overlaps directly with SUD Life on term, endowment, pension and group schemes including PMJJBY.

Direct peers

• HDFC Life Insurance: Among India's top private life insurers with a comparable multi-channel model (bancassurance, agency, digital) and a similar product mix across term, ULIP, savings and retirement.
• SBI Life Insurance: Bancassurance-led private life insurer partnering with State Bank of India; directly comparable to SUD Life in leveraging a PSU bank parent for scale distribution of term, ULIP and pension products.
• ICICI Prudential Life Insurance: Tech-forward private life insurer with a strong bancassurance tie-up (ICICI Bank) and similar portfolio across term, ULIP, health riders and retirement — a key competitor for SUD Life's customer profile.
• Max Life Insurance: Private life insurer with bancassurance partnership (Axis Bank) offering term, savings and retirement products. Closely comparable JV-style structure and product mix to SUD Life.
• Bajaj Allianz Life Insurance: Private life insurer JV between Bajaj Finserv and Allianz, offering ULIP, term, savings and group plans with broad multi-channel distribution — a comparable mid-to-large private peer.
• Tata AIA Life Insurance: JV between Tata Group and AIA offering term, ULIP, savings and retirement solutions through agency, banca and digital channels. Comparable structure and product breadth to SUD Life.
• Kotak Mahindra Life Insurance: Private life insurer within the Kotak Mahindra ecosystem with bancassurance, agency and digital channels; competes across term, ULIP and savings lines.
• Aditya Birla Sun Life Insurance: JV life insurer between Aditya Birla Group and Sun Life; offers term, savings, ULIP and group products through banca, agency and digital — comparable to SUD Life's mix.
• PNB MetLife India Insurance: JV life insurer between Punjab National Bank and MetLife with a strong PSU-bank bancassurance angle; competes with SUD Life especially on group and protection products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SUDLifeIN
• YouTubeyoutube.com/c/StarUnionDaiichiLifeInsurance
• Facebookfacebook.com/sudlifeinsurance
• LinkedInlinkedin.com/company/star-union-dai-chi-life-insurance
• Instagraminstagram.com/sudlifeinsurance

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Star Union Dai-ichi Life Insurance Company