SBI Life insurance Company Profile
SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Cardif. SBI owns 74% of the total capital and BNP Paribas Cardif the remaining 26%. SBI Life Insurance has an authorized capital of Rs. 2,000 crores and a paid up capital of Rs 1,000 crores.
State Bank of India (SBI)
State Bank of India is an Indian multinational, Public Sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra and also its corporate office in Mumbai, Maharashtra. As of December 2013, it had assets of US$388 billion and 17,000 branches, including 190 foreign offices, making it the largest banking and financial services company in India by assets.
Along with its 5 Associate Banks, State Bank Group has the unrivaled strength of over 18,000 branches across the country, arguably the largest in the world.
BNP Paribas Cardif
BNP Paribas Cardif is the life and property & casualty insurance arm of BNP Paribas, one of the strongest banks in the world. BNP Paribas Group, having presence in more than 80 countries ranks highly in Retail Banking, Investment Solutions and Corporate & Investment Banking. BNP Paribas Cardif is one of the world leaders in creditor insurance and its life and non-life insurance units have received an AA rating from Standard & Poor’s.
SBI Life Insurance – Key facts and Figures
| STARTED YEAR | December 2000 | ||||
| PAID UP CAPITAL | Rs 1000 Crores | ||||
| INDIAN PARTNER | STATE BANK OF INDIA (74%) | ||||
| FOREIGN PARTNER | BNP Paribas Cardif (26%) | ||||
| MD/CEO NAME | Mr. Arijit Basu | ||||
| BANCASSURANCE PARTNERS | SBI Bank | ||||
| SOLVENCY RATIO | 2.28 | ||||
| NUMBER OF BRANCHES | 500+ | HEAD OFFICE | Mumbai | ||
| TOTAL PREMIUM COLLECTED | 2011-12 | 2012-13 | 2013-14 | ||
| 6531.32 | 5182.88 | 5065.48 | |||
| CLAIMS SETTLEMENT RATIO | 2011-12 | 2012-13 | 2013-14 | ||
| 95.48% | 94.41% | 91.06% | |||
| KEY PLANS | CHILD | SBI Life – Smart Scholar | |||
| TERM | SBI Life – eShield | ||||
| PENSION | SBI Life – Saral Pension | ||||
| ULIP | SBI Life – eWealth Insurance | ||||
| TOLL FREE NUMBER | 1800-22-9090 | ||||
| WEBSITE ADDRESS | INDIAN PARTNER | http://www.sbi.co.in/ | |||
| FOREIGN PARTNER | https://www.bnpparibascardif.com/en | ||||
| COMPANY WEBSITE | http://www.sbilife.co.in/ | ||||
Disclaimer:
In the above table, we had updated the details from the IRDA Annual report 2013-14, 2012-13 and 2011-12. Some details are captured from www.sbilife.co.in. The accuracy of the above table content depends on these given sources. This information published is of informative nature and does not guarantee anything about the companies performance or claim records.
The main aim of this post is to simplify the details about SBI Life insurance. All these information in this post can be seen in www.sbilife.co.in and IRDA website.