SBI Life Insurance, also known as SBI Life, is among India’s leading life insurance companies. India’s biggest public sector commercial bank, State Bank of India (SBI) is the parent company of SBI Life. SBI had come into existence after the Reserve Bank of India (RBI) took control of the erstwhile Imperial Bank of India and renamed it as State Bank of India in 1955. The bank would continue to grow for the next five decades. SBI Life Insurance was incorporated on October 11, 2000. 2001 was the year when SBI and international insurance company BNP Paribas Cardif formed a joint venture. The company got approval from the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001. Thus in 2001, SBI Life commenced operations. A year later, SBI Life launched a Bancassurance Channel. Through the years, SBI Life would build its own insurance agent network and grow its customer base. In 2005, SBI Life launched Horizon unit-linked product. By 2010, the company had opened over 500 branches across India. SBI Life issued its Initial Public Offer (IPO) in 2017. The company was added to the prestigious MSCI Emerging Markets Index in 2020. Over the years BNP Paribas Cardiff would continue to offload its stake in SBI Life. As of June 2021, BNP Paribas Cardiff held less than one per cent stake in SBI Life. As of 2022, the company has over Rs 2 trillion AUM with individual new business premium (NBP) crossing Rs 150 billion.  

Products and services 

SBI Life is primarily known for the various life insurance plans it offers to customers. Arogya Shield, a health and life insurance plan is one such product. SBI Life eShield Next, SBI Life Saral Jeevan Bima, SBI Life Sampoorn Cancer Suraksha, SBI Life Smart Shield are a few other individual life insurance plans offered by SBI Life. The company also offers group insurance plans for corporate clients. SBI Life Kalyan ULIP Plus, SBI Life Pradhan Mantri Jeevan Jyoti Bima Yojana, SBI Life CapAssure Gold, SBI Life Sampoorn Suraksha are a few of the group insurance plans facilitated by SBI Life. SBI Life also helps customers with need assessments and provides them with tools and calculators for future planning. The firm operates through its large agent network of over 2, 08,000 agents and 63 corporate agents as of March 2023. 

Listing 

Shares of SBI Life Insurance Company are listed on BSE and NSE. The company is a part of multiple indices like Nifty 50, Nifty 500, S&P BSE Sensex 50 etc.