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 has a 62.1% stake in the company and BNP Paribas Cardif owns a 22% stake. Other investors are Value Line Pte. Ltd. and MacRitchie Investments Pte. Ltd., holding a 1.95% stake each while the remaining 12% is free float stake with public investors. SBI Life Insurance has an authorized capital of ₹20 billion (US$280 million) and a paid up capital of ₹10 billion (US$140 million).
SBI Life Insurance Co. Ltd
SBI Life Insurance Company Limited.svg
Mr. Mahesh Kumar Sharma, MD & CEO
SBI, BNP Paribas
Number of employees
12,000+ on-roll employees and 94,000 agents
In 2007, CRISIL Limited, a subsidiary of global rating agency Standard & Poor's, gave the company a AAA/Stable/P1+ rating.
SBI life insurance is Public Limited Listed company. SBI Life Insurance Listed on BSE And NSE (Stock Exchange of India). 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.