SBI Life Insurance Company Share Price

SBI Life Insurance is one of India's most reputable life insurance firms; it was founded in October 2000 and registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001. SBI Life's comprehensive portfolio of products, which serves millions of families across India, caters to individual and group consumers through Protection, Pension, Savings, and Health solutions.

SBI Life, guided by the 'Customer-First' philosophy, sets a high value on maintaining world-class operational efficiency and providing a hassle-free claim settlement experience to its customers while adhering to high ethical service standards. Furthermore, SBI Life is committed to improving digital experiences for its customers, distributors, and staff.

With its 952 offices, 18,515 employees, a large and productive individual agent network of approximately 146,057 agents, 50 corporate agents, a widespread bancassurance network of 14 partners, more than 29,000 partner branches, 114 brokers, and other insurance marketing firms, SBI Life strives to make insurance accessible to all.

SBI Life Insurance Company Limited (SBI Life), founded in 2001 as a joint venture between the State Bank of India (SBI) and BNP Paribas Cardif S.A., is one of India's biggest life insurance firms. SBI has an unrivalled presence in the country and is the largest banking organisation in India. BNP Paribas Cardif S.A. is the life and property and casualty insurance business of BNP Paribas, one of the world's largest banks.

SBI Life provides a wide range of life insurance and pension packages. The company offers individual and group solutions such as savings and protection plan to meet various consumer segments' insurance needs. SBI Life Insurance Company Limited was formed as a public limited company on 11th October 2000 in Mumbai and got its Certificate of Commencement of Business from the RoC on 20th November 2000. According to the registration certificate dated 29th March 2001, the company is registered with the IRDAI to conduct life insurance.

Shareholding Pattern

The shareholding pattern of SBI Life Insurance Co. consists of 55.48% holding by the promoters, 24.15% by FII, 12.46% by DII, and 7.91% by the Public. 

Corporate Social Responsibility Information

SBI Life is dedicated to the well-being of the communities with which we coexist. SBI Life's CSR programs are focused on education and healthcare, aligning with national priorities and crucial areas of community development, allowing underserved populations to be mainstreamed towards inclusive and sustainable growth. Through its CSR efforts across India in 2020-21, SBI Life would have impacted approximately 4,30,000 people and positively interacted with communities.

Education

SBI Life ensures quality education for children, youth, and women from vulnerable parts of society through its numerous CSR projects using the following approach:

Children in India, particularly those from disadvantaged backgrounds, sometimes drop out or do not attend school due to financial restrictions. SBI Life helped many of these children by covering the costs of their schooling, feeding, and overall development.

SBI Life is actively working with various schools across multiple states to reinstate/upgrade their infrastructures, such as smart classroom installations, school premises refurbishment, sanitary facilities, residential amenities, and so on.

SBI Life also works across various states to provide equal learning opportunities for children with special needs through interventions such as infrastructure development, special education, therapy services, helpful aides, training and workshops, and so on.

SBI Life's activities aim to empower youth and women from disadvantaged backgrounds by offering vocational training and skill development to improve their livelihood capabilities and make them self-sufficient.

Healthcare

SBI Life aids the needy, offering inexpensive and accessible healthcare services through:

• Support with medical aid/cost of treatment.
• Screening camps for the early detection of impairments in children.
• Financial assistance to medical institutes for critical equipment and infrastructure.
• Assistance with the healthcare of the elderly in nursing homes.

SBI Life's long-term initiative has been to ensure healthy new lives and childhoods by enhancing the health of pregnant and nursing women through the 1000 days program. Providing COVID-19 protection equipment (PPE Kits, sanitisers, masks, gloves, and so on) to frontline (medical, police, traffic, and sanitation employees) across various states.

Supporting infrastructure costs and providing medical equipment to hospitals serving COVID-19 patients. Providing AI-enabled Corona Testing Mobile Clinics for COVID-19 testing and vaccination.

Others

SBI Life assisted low-income families impacted by Cyclone Amphan in West Bengal and Cyclone Nisarg in Maharashtra as part of its disaster relief activities. SBI Life also contributed to the PM CARES Fund, which was established to cope with any type of emergency/disaster event, such as the present pandemic.

SBI Life also works to protect the environment through projects such as plantations, preserving green belts in urban areas, and promoting renewable energy.