Originally launched in 2008 as Aegon Religare Life Insurance, the company later became Aegon Life Insurance. It was a joint venture between Aegon N.V., a global financial services provider, and Bennett, Coleman & Company, the publisher of The Times of India. In 2023, Bandhan Financial Holdings Limited acquired a majority stake in the company, leading to its complete rebranding to Bandhan Life Insurance Limited in February 2024. The company focuses on leveraging technology to provide simple, affordable, and accessible insurance products directly to customers, positioning itself as a leader in the digital insurance space in India.