SBI Life Insurance Company was founded in the year 2001. The company is headquartered in Mumbai and is a joint venture of State Bank of India and BNP Paribas. BNP Paribas is a French multinational bank and financial company headquartered in Paris. BNP holds a 26% stake in the company, while SBI owns 74% of the stake in SBI Life Insurance. SBI Life Insurance Company has an authorised capital of Rs.20 billion with a paid-up capital amounting to Rs.10 billion.
SBI Life Insurance results show its listings in Bombay Stock Exchange BSE and National Stock Exchange NSE. SBI Life Insurance offers life insurance plans in three categories viz. Individual Plans, Group Plans, and Online Plans. You can select the plan as per the need. SBI Life Insurance Company has its agency for selling insurance products. The company has 947 offices across the country.
July 2019: KKR sold SBI Life Stake. KKR sold 1/3rd of its shares that SBI Life Insurance initially held.
December 2020: SBI Life Insurance acquired an 8.99% stake in Paisalo Digital.
SBI Life Insurance Research Report gives a whole network of its benefits, such as:
Individual Plan: The variants under this plan are:
Money-Back Income Plans
Group Plan: The plan has been categorised as:
Group Loan Protection Products
Group Micro Insurance Plans
Online Plan: SBI Life Insurance offers a state-of-the-art online platform for various services that include:
Sampoorn Cancer Suraksha
Pradhan Mantri Jeevan Jyoti Beema Yojana
Kalyan Ulip Plus
SBI Life Insurance has launched Women Specific Life Insurance Policy. The policy keeps in mind the issues and needs of the woman. The policy provides various benefits such as savings, life coverage, and coverage against women-specific critical health conditions.
Apart from the various services, SBI Life also pays attention to customer services to existing customers. The benefits include an online premium payment option, easy and convenient premium payment options, getting the premium certificate online, switching of the funds with ease, easy access to claim and maturity, missed call services, and many more. SBI Life Insurance has also launched connect with the consumers' campaign to ensure consumers' full help.
SBI Life Insurance Annual Report reflects the company's growth at the rate of 30-35% in a couple of years. SBI Life has also bagged the second position for the highest valued insurer in India.
2002: SBI has launched the Banca channel
2004: Asset Under Management crossed the mark of Rs.1 000 crores for the first time.
2005: SBI Life Insurance became the first insurance company to profit from Rs.2.03 crore in the FY.
2009: The company was ranked 1st globally in MDRT membership.
2010: The number of branches crossed the mark of 500.
2014: There was an increase in the dividend to 12%.
2019: The company crossed Rs.300 million revenue mark.
SBI Life Insurance is counted among the leading players in the Indian Insurance Market.
2015: SBI Life Insurance was awarded the prestigious Golden Peacock National Quality Award for business excellence and innovation.
2018: TISS Leapvault CLO Award for best-blended learning program in the insurance category.
2019: Life Insurance Provider of the year award was conferred to SBI Life Insurance.
2020: VCCircle Award in the category of Financial Services Company of the Year.
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Invest Yadnya offers numerous resources for SBI Life Insurance analysis. With the available SBI Life Insurance research report, price chart, ratios, etc., get a detailed analysis of the company. With Invest Yadnya’s available resources, get an overview of the company, both from the qualitative and financial perspective. You can check out our stock article on SBI Life Insurance Company Ltd - Detailed Analysis for a detailed stock performance review of SBI Life Insurance. Multiple resources are also offered on the Indian Insurance sector, like stock articles on Insurance Sector Pros & Cons (Detailed Analysis) for both Life & Non-Life & many more. The investors shall make a viable investment decision depending on their risk profile & other economic factors.
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To find the SBI Life Insurance performance analysis, subscribe to our Equity Research and Stock Fundamental Analysis Tool, Stock-O-Meter.Our website has information about 6 insurance sector companies that give insight into its financials. Companies include ICICI Prudential Life Insurance Company, HDFC Life Insurance Co, ICICI Lombard General Insurance Co, General Insurance Corporation of India, The New India Assurance Co. & many more.