SBI Life Insurance Company
|Mr. Arijit Basu, MD & CEO|
|Owner||SBI, BNP Paribas|
Number of employees
|7,335 on-roll employees and 96,000 agents|
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 Cardiff. 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 Cardiff 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$310 million)and a paid up capital of ₹10 billion (US$150 million).
SBI life insurance is private company, 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.
- Products by SBI life Insurance Regulatory and Development Authority, (IRDA) website.
- "SBI Life Insurance gets top rating". Mint. 1 October 2007.
- "India's SBI Life Insurance rated 'AAA' on parental support - Crisil". Forbes. 09.17.07. Check date values in: