SBI Life Insurance Company Limited
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| Joint Venture | |
| Industry | Insurance |
| Founded | March 2001[1] |
| Headquarters | Mumbai, India |
Key people | Mr. Arijit Basu, MD & CEO |
| Products |
Life insurance Pensions |
| Owner | SBI, BNP Paribas |
Number of employees | 7,335 on-roll employees and 96,000 agents |
| Website | Sbi 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 Assurance. SBI owns 74% of the total capital and BNP Paribas Assurance the remaining 26% of the capital. SBI Life Insurance has an authorized capital of ₹20 billion (US$290 million)and a paid up capital of ₹10 billion (US$150 million).
In 2007, CRISIL Ltd, a subsidiary of global rating agency Standard & Poor's, gave the company a AAA/Stable/P1+ rating.[2][3]
History
When the government of India opened the life insurance sector to private companies, SBI started SBI Life 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
- ↑ 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:
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External links
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