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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
Phone 1800-22-9090
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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 70.1% of the total capital and BNP Paribas Cardif 26% of the capital. Other investors are Value Line Pte. Ltd. and MacRitchie Investments Pte. Ltd., holding 1.95% of the total capital each. SBI Life Insurance has an authorized capital of 20 billion (US$290 million)and a paid up capital of 10 billion (US$150 million). SBI Life Insurance also features in the Fortune Global 500 list of the world’s biggest corporations. 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.sbi life insurance company customer care

SBI Life Insurance Company Limited is India based private life insurer. SBI Life Insurance is a joint venture between the State Bank and BNPPC. State Bank is India’s largest commercial bank. BNPPC, an insurance subsidiary of BNP Paribas, with operations across 36 jurisdictions internationally, is among the leading credit life insurance businesses globally. BNP Paribas is in top 10 global financial institution in terms of revenue. SBI Life has product a portfolio of 37 individual and group products, including a range of protection and savings products to address the insurance needs of diverse customer segments.

Company has developed a multi-channel distribution network comprising bank branches of SBI and its associated banks, individual agent network (93,849 agents) and other distribution channels including direct sales and sales through corporate agents, brokers, insurance marketing firms and other intermediaries. SBI Life turned profitable within the first five years of our operations, and have declared dividends every year since 2012.

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Competitive Strengths

1. Largest private life insurer in India since 2010. 
2. Backed by SBI and BNPPC
3. Vast multi-channel distribution with pan-India presence (Branches, Agents and Online)
4. Strong capital base. Company has not required additional capital infusion since 2008.
5. Diversified product portfolio.

SBI Life is a private company that commenced operations as a joint venture between BNP Paribas Cardiff – a French financial services provider and multinational bank headquartered in Paris, and State Bank of India – the biggest financial service provider and the state-owned bank in India. BNP Paribas Cardiff holds 26% of the total capital in SBI Life Insurance Company while SBI holds 74% of the stake. The authorised capital of SBI Life stands at Rs.20 billion, while its paid-up capital is recorded at Rs.10 billion. Headquartered in Mumbai, the company was formed in 2001 and although it initially focussed mainly on bancassurance, it has, over time, developed into one of the biggest life insurance companies around.

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State Bank of India is by far the largest and most trusted bank in India. SBI along with its associate branches has a distribution which is the largest in any banking network – more than 16,000 branches and adding more by the day. BNP Paribas, Euro Zone’s leading Bank and is one of the oldest foreign banks having a presence in India. BNP Paribas Assurance has a major presence in Europe, Asia and Latin America and is among the insurers in Europe. The company has other joint partnerships in Asia in countries like South Korea, Vietnam, Thailand and Taiwan. 

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