SBI Life Insurance Company

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 62.1% of the total capital and BNP Paribas Cardif 22% of the capital. Other investors are Value Line Pte. Ltd. and MacRitchie Investments Pte. Ltd., holding 1.95% of the total capital each and remaining 12% with Public. SBI Life Insurance has an authorized capital of ₹20 billion (US$280 million)and a paid up capital of ₹10 billion (US$140 million).

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

In 2007, CRISIL Ltd, a subsidiary of global rating agency Standard & Poor's, gave company a AAA/Stable/P1+ rating.[2][3]

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. "SBI Life Insurance gets top rating". Mint. 1 October 2007.
  3. "India's SBI Life Insurance rated 'AAA' on parental support - Crisil". Forbes. 17 September 2017.
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