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Bajaj Capital / 02:26 Sep 19,2017

SBI Life is India’s leading private life insurer, in terms of New Business Premium generated in each fiscal year, since Fiscal 2010. They have also increased their market share of New Business Premium generated among private life insurers in India, from 15.87% in Fiscal 2015 to 20.04% in Fiscal 2017 (Source: CRISIL Report). Between Fiscal 2015 and Fiscal 2017, their New Business Premium generated increased at a CAGR of 35.45%, which is the highest among the top five private life insurers (in terms of total premium in Fiscal 2017) in India

In Fiscal 2017, They have enjoyed a market share of Individual Rated Premium of 20.69% among private life insurers in India and 11.16% of the entire life insurance industry in India (Source: CRISIL Report). Between Fiscal 2015 and Fiscal 2017, Individual Rated Premium increased at a CAGR of 37.90 %, the highest among the top five private life insurers (in terms of total premium in Fiscal 2017) in India (Source: CRISIL Report). They have also issued the highest number of individual life policies annually among the top five private life insurers (in terms of total premium in Fiscal 2017) in India since Fiscal 2014
SBI Life was established as a joint venture between the State Bank and BNPPC in 2001. As of March 31, 2017, State Bank was India’s largest commercial bank in terms of deposits, advances and number of branches. Following its recent merger with certain of its associate banks and a non-affiliate bank, with effect from April 1, 2017, State Bank had 24,017 branches and 195 international offices in 36 countries and more than 420 million customers. BNPPC, an insurance subsidiary of BNP Paribas, with operations across 36 jurisdictions internationally, is among the leading credit life insurance businesses globally. BNP Paribas was a top 10 global financial institution in terms of revenues in 2016 (Source: Fortune Global 500). They believe their relationship with State Bank and BNPPC has enabled us to enhance our brand, access specialist industry expertise, grow our business and consolidate our market position
As of June 30, 2017, they had a comprehensive product portfolio of 37 individual and group products, including a range of protection and savings products to address the insurance needs of diverse customer segments. The individual products include participating products, non-participating protection products, other non-participating products and unit-linked products.
Brand, business reputation and customer satisfaction are critical factors in developing new business and maintaining the leadership position. They were recognized as among the Most Trusted Brands by The Economic Times Brand Equity – Nielsen survey in Fiscal 2017 for the sixth consecutive year. They were awarded Life Insurance Company of the Year and Bancassurance Leader Life Insurance (Large Category) at the Indian Insurance Awards 2016 organised by Fintelekt, the Economic Times Best Corporate Brand, 2016 and the LIMRA and LOMA Social Media Silver Bowl Awards, 2016 at the Social Business Conference for Financial Services in Boston, Massachusetts. According to the Kantar – IMRB survey 2017, in a survey conducted across more than 15 cities in India, they were jointly top-ranked for customer loyalty in the life Insurance category.
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