evidence: There are 23 private sector Life Insurance companies in India. They are: [...] According to section 6 of Insurance Act 1938, no insurer carrying on the business of life insurance in India or after the commencement of the Insurance Regulatory and Development Authority Act, 1999, shall be registered unless he has a paid-up equity capital of rupees one hundred crores. [...] The information is available in Insurance Regulatory and Development Authority of India (Registration of Indian Insurance Companies) (Seventh Amendment) Regulations, 2016 which can be viewed at the following section in the Authority's website .