SBI Life Insurance was established in 2000 as a JV between SBI and BNP Paribas Cardiff and has become one of the leading life insurers in the country. The company has a range of life insurance and pension products which include individual and group products to cater to the insurance needs of diverse customer segments.
Gross Written Premium of SBI Life has increased at a 23% y-o-y to reach Rs. 406.3 billion (US$ 5.76 billion) in FY20.
Company Website: www.sbilife.co.in
SBI Life Insurance – With Us, You’re Sure
|2020||In November 2020, SBI Life Insurance launched an interactive online platform for consumers to self-assess their Financial Immunity Score and better analyse their preparedness and financial risk. In September 2020, SBI Life Insurance signed a bancassurance agreement to offer life insurance solutions to the bank’s customers across the country.|
|2019||Entered the Rs. 1 trillion (US$ 14.31 billion) market capitalisation (market-cap) club|
|2017||AUM crossed Rs. 100,000 crore (US$ 15.52 billion) in FY18. Successful IPO|
|2016||Record renewal premium collection|
|2015||Record growth year|
|2012||AUM crossed Rs. 50,000 crore (US$ 9.35 billion)|
|2010||More than 500 branches|
|2007||Gross Written Premium crossed Rs. 5,000 crore (US$ 1.21 billion)|
|2004||Launched unit linked products|
|2001||Approval received from Insurance Regulatory and Development Authority of India (IRDAI) to commence business|
|2000||Incorporated as a JV with BNP Cardiff|