About Us

Our Mission: “To emerge as the leading company offering a comprehensive range of life insurance and pension products at competitive prices, ensuring high standards of customer satisfaction and world class operating efficiency, and become a model life insurance company in India in the post liberalisation period”.

Our Values :

• Trustworthiness
• Ambition
• Innovation
• Dynamism
• Excellence

SBI Life Insurance Company Limited is a joint venture between the State Bank of India and BNP Paribas Assurance. SBI Life Insurance is registered with an authorized capital of Rs 2000 crores and a Paid-up capital of Rs 1000 Crores. SBI owns 74% of the total capital and BNP Paribas Assurance the remaining 26%.

State Bank of India enjoys the largest banking franchise in India. Along with its 6 Associate Banks, SBI Group has the unrivalled strength of over 16,000 branches across the country, arguably the largest in the world.

BNP Paribas Assurance is the life and property & casualty insurance unit of BNP Paribas – Euro Zone’s leading Bank. BNP Paribas, part of the world’s top 6 group of banks by market value and a European leader in global banking and financial services, is one of the oldest foreign banks with a presence in India dating back to 1860. BNP Paribas Assurance is the fourth largest life insurance company in France, and a worldwide leader in Creditor insurance products offering protection to over 50 million clients. BNP Paribas Assurance operates in 41 countries mainly through the bancassurance and partnership model.

SBI Life has a unique multi-distribution model encompassing vibrant Bancassurance, Retail Agency, Institutional Alliances and Corporate Solutions distribution channels.

SBI Life extensively leverages the SBI Group as a platform for cross-selling insurance products along with its numerous banking product packages such as housing loans and personal loans. SBI’s access to over 100 million accounts across the country provides a vibrant base for insurance penetration across every region and economic strata in the country ensuring true financial inclusion.

Agency Channel, comprising of the most productive force of more than 68,000 Insurance Advisors, offers door to door insurance solutions to customers.

Parentage

SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Assurance SBI owns 74% of the total capital and BNP Paribas Assurance the remaining 26%. SBI Life Insurance has an authorized capital of Rs. 2,000 crore and a paid up capital of Rs 1,000 crores. State Bank of India enjoys the largest banking franchise in India. Along with its 6 Associate Banks, State Bank Group has the unrivalled strength of over 16,000 branches across the country, arguably the largest in the world. BNP Paribas is the 1st largest French company and ranks 5th in the banking industry worldwide, 1st bank in Euro Zone as per Global 2000 Forbes’ 2008. It is 6th most valuable international banking brand as per Brand Finance 2008.

BNP Paribas Assurance is the insurance arm of BNP Paribas – Euro Zone’s leading Bank. BNP Paribas, part of the world’s top 10 group of banks by market value and part of Europe top 3 banking companies, is one of the oldest foreign banks with a presence in India dating back to 1860. BNP Paribas Assurance is the fourth largest life insurance company in France, and a worldwide leader in Creditor insurance products offering protection to over 50 million clients. BNP Paribas Assurance operates in 41 countries mainly through the Bancassurance and partnership model.

Multi-Distribution Model

SBI Life has a unique multi-distribution model encompassing vibrant Bancassurance, Retail Agency, Institutional Alliances and Corporate Solutions distribution channels.

SBI Life extensively leverages the State Bank Group relationship as a platform for cross-selling insurance products along with its numerous banking product packages such as housing loans and personal loans. SBI’s access to over 100 million accounts across the country provides a vibrant base for insurance penetration across every region and economic strata in the country, thus ensuring true financial inclusion. Agency Channel, comprising of the most productive force of over 68,000 Insurance Advisors, offers door to door insurance solutions to customers.

Key Milestones

Financial Year 08-09:

• Bagged the coveted personal finance award-Outlook Money NDTV Profit “best Life Insurer 2008”.
• Ranked among global top three in terms of number of Million Dollar Round Table (MDRT) members.
• CRISIL has reaffirmed its highest financial rating AAA/Stable to SBI Life. In 2007 SBI Life became the first life insurer in India to receive this rating from CRISIL, country’s leading rating agency.
• Recently ICRA, has assigned iAAA rating indicating highest claims paying ability to SBI Life Insurance.
• Retains ISO 9001:2000 certificate for superior claim settlement process.

Financial Year 07 – 08:

• Rated as the ‘The Most Trusted Private Life Insurer’ according to a survey conducted by Brand Equity in association with AC Nielsen ORG-MARG and the Economic Times Intelligence Bureau.
• Became first life insurer in India to receive the highest financial rating ‘AAA’ from CRISIL, the country’s best known rating agency in 2007.
• Ranked amongst global top five life insurance companies in the number of MDRT members.
• Forayed into micro insurance with the launch of ‘Grameen Shakti’ in Bhubaneshwar, Orissa for the economically underprivileged sections of society.
• Received ISO 9001: 2000 certification for superior claim settlement process.
• Became the only domestic life insurer to achieve CMMI Level 3 certification for IT processes and software development capabilities.

Financial Year 06-07:

• Second consecutive year of Profitability
• Leads Private Life Insurance Companies in Lives covered : 6.49 Million lives covered

Financial Year 05-06:

• Becomes the first Life Insurer to make Profits