SBI Life Insurance was founded by State Bank of India. It is an amalgamation between two banking giants, State Bank of India (SBI), and BNP Paribas, a French multinational bank. BNP Paribas owns 26% of the capital, while SBI owns 70.1% of the capital.
SBI life insurance is a company formed by the largest lender in India, State Bank of India (SBI, and BNP Paribas, French based multinational banking company.
Market capitalisation of SBI life insurance
The market capitalisation of SBI life insurance is valued at roughly Rs.67,700 crore.
Q1 FY 2018-19
FY 2017-18
Q3 FY 2017-18
SBI life insurance is one of the largest private insurers in the country. It is an amalgamation between two banking giants, State Bank of India (SBI), and BNP Paribas, a French multinational bank. BNP Paribas owns 26% of the capital, while SBI owns 70.1% of the capital. The remaining capital is divided amongst their investors MacRitchie Investments Pte. Ltd. and Value Line Pte. Ltd. The company has an authorised capital of around Rs.20 billion, and paid up capital of around Rs.10 billion. One of its most recognisable accolades is that the company is listed in the 'Fortune Global 500 list of the world's biggest corporations'.
Mr. Rajnish Kumar - Chairman
Mr. Rajnish Kumar is the chairman of SBI life insurance and has been with State Bank of India for over 30 years. Undoubtedly one of the most prominent individuals in the company, he initially joined the company as a Probationary officer (P.O) back in 1980. He has immense experience in handling large financial projects, credits, retail banking, and foreign exchange. Prior to his position as chairman, Mr. Rajnish was a Managing Director (Compliance and risk, and National Banking group) of SBI.
Mr. Dinesh Khara - Director
Mr. Dinesh Khara is the Non-Executive Director Of State Bank of India life insurance. He graduated in the field of business administration and attained his post-graduation in the field of Commerce. He is also a Certified Associate of the Indian Institute of Bankers (C.A.I.I.B) and has over three decades of experience in commercial banking like retail credit, branch management, banking operations, etc. Currently he is the director of 9 subsidiaries of SBI that are non-banking in nature. Prior to this, he was Managing Director (MD) & Chief Executive Officer (CEO) of SBI Funds Management Pvt. Ltd.
Mr. Sanjeev Nautiyal - Managing Director (MD) & Chief Executive Officer (CEO)
Mr. Sanjeev Nautiyal is the Managing Director (MD) & Chief Executive Officer (CEO) of SBI life insurance. He too began his career as a Probationary Officer back in 1985, in Lucknow. Graduating in the field of arts and attaining a Masters in Business Administration, Mr. Sanjeev later went on to become a Certified Associate of the Indian Institute of Bankers (C.A.I.I.B). He has been a part of several vital assignments within SBI in the fields of Human resources, Credit, international banking, etc. Prior to his role as MD and CEO, Mr. Sanjeev was the Chief General Manager of SBI Ahmedabad.
Ms. Joji Sekhon Gill - Independent Director
Ms. Joji Sekhon Gill is an Independent Director of SBI life insurance. After having graduated in the field of science and economics, she went on to obtain her Masters from Punjab University in Personnel Management and Industrial Relations. She is renowned in the field of banking and has over 25 years of work experience. Mr. Joji had worked in three continents and was the Director of HR (Human Resources) for the tech giant, Microsoft India. Her role in Microsoft India was to develop people strategies and synergise them with all the six businesses that Microsoft had possessed in India. Previously in charge of developing the talent strategy all across South Asia, Ms. Joji is now the regional director of Asia pacific, covering countries such as India, Taiwan, Korea, Japan, New Zealand, Australia, Singapore, Malaysia, Philippines, Vietnam, Thailand, Indonesia, and China.
SBI life insurance was incorporated in Mumbai back in 2000 under the Companies Act, 1956. The company began to commence its business in 200, and by 2006 it was the only life insurance company in India that declared a profit within 6 years of incorporation. By 2011, the company had expanded its network to over 500 branches, growing at a rapid pace. SBI life insurance grossed a profit after tax of over Rs.5 billion, declaring maiden dividends to its shareholders. The company has since performed excellently, and in 2017, they decided to go public. Currently, SBI life insurance has a renewal premium of well over Rs.100 billion, and a gross written premium of way over Rs.200 billion.
SBI life insurance stocks are listed on NSE, BSE, S&P BSE, etc.
M.V. Road & Western Express Highway Junction,
Andheri (East), Mumbai - 400 069
Phone - 022-6191 0000
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