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SBI Life Insurance

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SBI Life Insurance

  • One of the leading private life insurers in India
  • Joint venture between State Bank of India (SBI) and BNP Paribas Cardif
  • Multi-channel distribution network with 116,278 agents as of March 31, 2018
  • Assets Under Management (AUM) reached Rs 141020 (US$ 20.18 billion) in FY19
  • 5.98 per cent share in new business in FY19 (up to September)
  • 1.33 million claims settled in FY18

SBI Life Insurance was established in 2000 as a joint venture between the State Bank of India (SBI) and BNP Paribas Cardif 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 25.4 per cent CAGR between FY15-18, to reach Rs 253.54 billion (US$ 3.93 billion). It had a 6.69 per cent share in new business in FY19 (up to Dec 2018).

Company Website: www.sbilife.co.in

SBI Life Insurance – With Us, You’re Sure

2017 Assets Under Management (AUM) crossed Rs 1 trillion (US$ 15.52 billion) in FY18, Successful IPO
2016 Record renewal premium collection
2015 Record growth year
2012 Assets Under Management (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 IRDAI to commence business
2000 Incorporated as a joint venture with BNP Cardiff

 

Updated: May, 2019

Insurance
India's insurance industry is expected to reach US$ 280 billion by 2020.