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 INR20 billion (US$310 million)and a paid up capital of INR10 billion (US$160 million). SBI Life Insurance also features in the Fortune Global 500 list of the world's biggest corporations.
In 2007, CRISIL Ltd, a subsidiary of global rating agency Standard & Poor's, gave company a AAA/Stable/P1+ rating.
Video SBI Life Insurance Company
History
SBI life insurance is private company. 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.
Maps SBI Life Insurance Company
References
External links
- SBI Life's official website
- SBI Life's Epolicy official Website
Source of article : Wikipedia
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