The persistency ratio is calculated as the percentage of policyholders who renew their premiums. A higher ratio means better customer satisfaction, more trust in the insurer, and consistent continuation of coverage over time. According to the IRDAI handbook of Indian Insurance Statistics, 2023-2024, the top 2 life insurers with the highest 13th-month (after one year) persistency, 2024, are:
Kotak Mahindra Life Insurance Ltd. — 97.16%
Max Life Insurance Company Ltd. — 85.10%
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