SBI Life Insurance Company

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SBI Life Insurance Co. Ltd
Company typeJoint Venture
BSE: 540719
NSE: SBILIFE
IndustryInsurance
FoundedMarch 2001[1]
HeadquartersMumbai, India
Area served
worldwide
Key people
Mr. Sanjeev Nautiyal , MD & CEO
ProductsLife insurance
Pensions
OwnerSBI, BNP Paribas
Number of employees
12,000+ on-roll employees and 94,000 agents
WebsiteSbi Life

SBI Life Insurance is a joint venture life insurance company between State Bank of India (SBI), the largest state-owned banking and financial services company in India, and BNP Paribas Cardif. BNP Paribas is a French multinational bank and financial services company with global headquarters in Paris. SBI owns 70.1% of the total capital and BNP Paribas Cardif 26% of the capital. Other investors are Value Line Pte. Ltd. and MacRitchie Investments Pte. Ltd., holding 1.95% of the total capital each. SBI Life Insurance has an authorized capital of ₹20 billion (US$250 million)and a paid up capital of ₹10 billion (US$130 million). SBI Life Insurance also features in the Fortune Global 500 list of the world’s biggest corporations. [2]

In 2007, CRISIL Ltd, a subsidiary of global rating agency Standard & Poor's, gave company a AAA/Stable/P1+ rating.[3][4]

History

SBI life insurance is Public Limited Listed company. SBI Life Insurance Listed on BSE And NSE (Stock Exchange of India). SBI Life started as a joint venture with BNP Paribas in 2001. While in its initial stage its business was mainly from bancassurance channel, now it is developing its own agency team for selling its life insurance products.

References

  1. ^ Products by SBI life Insurance Regulatory and Development Authority, (IRDA) website.
  2. ^ "About SBI Life Insurance | Overview". www.sbilife.co.in. Retrieved 5 July 2017.
  3. ^ "SBI Life Insurance gets top rating". Mint. 1 October 2007.
  4. ^ "India's SBI Life Insurance rated 'AAA' on parental support - Crisil". Forbes. 17 September 2017.

External links

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