Sahara India Life Insurance Company Ltd. (SILIC) was the first wholly Indian-owned private life insurance company, receiving its license from the Insurance Regulatory and Development Authority of India (IRDAI) in 2004. The company offered a range of life insurance and investment products to individuals and groups across India. However, due to concerns over its financial viability and the conduct of its promoters, the IRDAI appointed an administrator in 2017 to manage the company's affairs. In June 2023, the IRDAI directed SBI Life Insurance to take over the policy liabilities of SILIC to protect the interests of its policyholders.

Founded in

India