SBI LIFE INSURANCE COMPANY LIMITED
INSURANCE COMPANIES OF INDIA – SBI LIFE INSURANCE COMPANY LIMITED
SBI Life Insurance Company Limited is one of the Top 10 Insurance Companies in India. It offers the life insurance and pension products to the Customer. The company offers Many product Like individual products, including unit linked products, and plans such as pension plans, protection plans, protection cum savings plans, and unit linked non-participating insurance plans. It also provides group products, including retirement and specialized term insurance plans.
The SBI Life Insurance company was incorporated in 2000, based in Mumbai(India). SBI Life Insurance Company Limited operates as a subsidiary of State Bank of India. When the government of India opened the life insurance sector to private companies, SBI Company started SBI Life as a joint venture with BNP Paribas in 2001. While its initial stage its business was mainly from bancassurance channel, now it is developing its own agency team for selling its life insurance products and plan to the Cusomer.
It is the largest state-owned banking and financial services company in India. SBI Company owns 44% of the total capital and BNP Paribas Assurance owns remaining 26%, others is 30%. SBI Life Insurance Company has an authorized capital of 2000 crore and a paid up capital of 1000 crore.