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SBI Life Insurance Company is a joint venture between the State Bank of India (74%) and BNP Paribas Assurance (26%). The company launched its business in the year 2001..
State Bank of India is by far the largest and most trusted bank in India. SBI along with its associate branches has a distribution which is the largest in any banking network – more than 16,000 branches and adding more by the day. BNP Paribas, Euro Zone's leading Bank and is one of the oldest foreign banks having a presence in India. BNP Paribas Assurance has a major presence in Europe, Asia and Latin America and is among the top15 insurers in Europe. The company has other joint partnerships in Asia in countries like South Korea, Vietnam, Thailand and Taiwan.
SBI Life Insurance is now among the top life insurance providers in India. It is the largest private life insurer and was the 1st private life insurance company to become profitable. The huge customer base and the reach of its banking channel are the advantages which SBI enjoys over the other insurance companies. It has a wide array of life insurance products to adequately cater to the Indian consumer.