IndiaFirst Life Insurance Company Limited was established in 2009 and is a joint venture between two of India's largest public sector banks, Bank of Baroda and Union Bank of India, and Carmelpoint Investments India Private Limited (which is owned by private equity funds managed by Warburg Pincus LLC). The company's mission is to make insurance simple, accessible, and affordable for everyone. It offers a comprehensive suite of products including term plans, wealth accumulation plans, savings plans, and retirement solutions, which are distributed through its extensive bancassurance network and other channels.