SBI Life Insurance Company Ltd
SBI Life Insurance Company Ltd (SBILIFE)

SBI Life Insurance Company Ltd (SBILIFE)

₹1121.091.42%

Key Stats

₹1102.85
Day's Price Range
₹1129.4
₹956.75
52-Week Price Range
₹1293.25
1 Month Return-1.03 %
3 Month Return4.71 %
1 Year Return12.54 %

Company Financials

  • Annual
Value in ₹ crore

Peer Comparsion

EPS
Rank 3
BVPS
Rank 4
Dividend Yield
Rank 3
ROE
Rank 3
13.68%
Debt To Asset
Rank 4

Company Information

SBI Life Insurance Company Limited SBI Life established in 2001 is a joint venture between State Bank of India SBI and BNP Paribas Cardif S.A. and is one of the leading life Insurance companies in India. SBI has an unrivalled strength of over 22414 branches across the country making it the largest banking group in India. BNP Paribas Cardif S.A. is the life and property casualty insurance arm of BNP Paribas one of the strongest banks in the world. SBI Life offers a comprehensive range of life insurance and pension products. The company offers individual and group products which include savings and protection plans to address the insurance needs of diverse customer segments. SBI Life has a multichannel distribution network comprising of an expansive Bancassurance channel with SBI and agent network comprising of 108261 Insurance Advisors IAs as on March 31 2018. The companys other distributions channels include direct sales and sales through corporate agents brokers insurance marketing firms and other intermediaries. As on March 31 2018 the company had a widespread network of 825 offices across the country.SBI Life Insurance Company Limited was incorporated as a public limited company at Mumbai on October 11 2000 and received Certificate of Commencement of Business from the RoC on November 20 2000. The Company is registered with the IRDAI for carrying out business of life insurance pursuant to the registration certificate dated March 29 2001. During financial year 200203 SBI Life launched Bancassurance channel. It also paid its first claim during the year. During financial year 200405 SBI Lifes Assets Under Management AUM crossed Rs 1000 crore mark. In January 2005 SBI Life launched unitlinked product. During financial year 200506 SBI Life became the first new generation private life insurance company to make profit the company registered profit after tax of Rs 2.03 crore for the year.During financial year 200708 SBI Lifes Gross Written Premium GWP crossed the milestone of Rs 5000 crore and AUM crossed the milestone of Rs 10000 crore. The company also achieved cumulative breakeven during the year wiping out all accumulated losses. During the year the companys share capital increased by Rs 500 crore to Rs 1000 crore. During financial year 200910 SBI Lifes GWP crossed the milestone of Rs 10000 crore. During financial year 201011 SBI Lifes branch network crossed the milestone of 500 branches.During the financial year 201112 SBI Life achieved the milestone of profit after tax PAT of Rs 500 crore the company reported PAT of Rs 556 crore for the year. It also declared a maiden dividend of 5 during the year. During the financial year 201213 the companys AUM crossed the milestone of Rs 50000 crore and the number of branches crossed 750. During the financial year 201516 SBI Lifes GWP crossed the milestone of Rs 15000 crore.During the financial year 201617 SBI Lifes renewal premium collection crossed the milestone of Rs 10000 crore. Also during the year Value Line Pte Ltd and McRitchie Investments Pte Ltd. bought stake of 1.95 each in SBI Life from SBI. SBI Life Insurance increased its 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. Between Fiscal 2015 and Fiscal 2017 the Companys 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 SBI Life Insurance 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. Between Fiscal 2015 and Fiscal 2017 its 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. The Company has 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.As of June 30 2017 SBI Life 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. Its individual products include participating products nonparticipating protection products other nonparticipating products and unitlinked products which contributed 10.77 0.95 1.69 and 50.36 respectively of its New Business Premium in Fiscal 2017 while its group products include credit life group protection products other group protection products group fund management Group FM products and other group products which contributed 2.72 1.14 31.73 and 0.65 respectively of its New Business Premium in Fiscal 2017. During the financial year 201718 SBI Life achieved AUM milestone of Rs 1 lakh crore.State Bank of India offloaded 8 crore shares and BNP Paribas Cardif S.A. offloaded 4 crore share of SBI Life Insurance Company via an initial public offer IPO during the period from 20 September 2017 to 22 September 2017. There was no fresh issue of shares by the company. The stock debuted on BSE at Rs 733.30 on 3 October 2017 a premium of 4.75 compared to the IPO price of Rs 700 per share. On 24 September 2018 SBI Life Insurance Company Limited announced that it has been informed by BNP Paribas Cardif SA BNP Paribas Cardif that BNP Paribas Cardif may consider reducing its shareholding in the company to ensure compliance with minimum public shareholding requirements in accordance with applicable law. In this context BNP Paribas Cardif has also confirmed that it is yet to make any firm decisions regarding the size timing or nature of such potential reduction in their shareholding of the company. Accordingly further updates will be provided in compliance with the applicable law.During the year 2018 the Company collected New Business Premium of Rs. 109.66 billion comprising of Rs. 68.42 billion from Bancassurance which represents companys largest distribution network Rs. 27.48 billion from Retail Agency and Rs. 13.76 billion from other distribution channel including direct sales sales by nonbancassurance corporate agents brokers micro agents common service centres CSC insurance marketing firms IMFs and Web aggregators.During the FY 2018 the Company had completed its Initial Public Offer IPO by way of an Offer for Sale OFS of 120000000 equity shares of face value of Rs. 10 each of the Company at Offer Price of Rs. 700 per equity share aggregating to Rs. 83.89 billion by the Selling Shareholders State Bank of India and BNP Paribas Cardif S.A. of 80000000 equity shares and 40000000 equity shares respectively. The shares of the Company were listed on National Stock Exchange of India Limited NSE and Bombay Stock Exchange Limited BSE on 03 October 2017.During the FY2019the Assets under Management AUM registered 21.3 growth to Rs 1410.24 billion as against Rs 1162.61 billion reported at the end of the previous financial year. The companys new business premium reported an impressive 25.8 growth. The individual new business premium grew by 14.6 to Rs 96.36 billion in FY 2019.During the year 201819 BNP Paribas Cardif S.A. promoter has sold 142992908 equity shares of Rs 10 each at an average price of Rs 537.34 per share for a consideration of Rs 76.84 billion. This has resulted in dilution of BNP Paribas Cardif S.A. stake by 14.30 to 7.7 as on 31 March 2019.The company was recognised as The Economic Times Best Brands 2019 by The Economic Times. The company also Won the Life Insurer of the Year 2019 by Federation of Indian Chambers of Commerce FICCI.As at 31 March 2019 the Company has 908 offices 123613 Insurance Advisors IAs and 58995 Certified Insurance Facilitators CIFs across the country.During the FY2020the New Business Premium NBP has increased by 20 from Rs 137.92 billion to Rs 165.92 billion in the previous year. The AUM has grown by 14 from Rs 1410.24 billion as of 31 March 2019 to Rs 1603.63 billion as of 31 March 2020 with debtequity mix of 79:21.As at 31 March 2020 the Company has 937 offices 130418 Insurance Advisors IAs and 53096 Certified Insurance Facilitators CIFs across the country.During the year 201920 State Bank of India Promoter has sold 4.5 stake i.e. 45000000 equity shares of Rs 10 each at an average price of Rs 785.18 per share for a consideration of Rs 35.33 billion. BNP Paribas Cardif S.A. Promoter has sold 2.5 stake i.e. 25000000 equity shares of Rs 10 each at an average price of Rs 680.77 per share for a consideration of Rs 17.02 billion.The company won the Financial Services Company of the Year Award 201920 at VCCircle Awards 2020.Also won the Best Sales Enablement Technology award at The Customer Fest Awards 2020. SBI Life won the Insurer of the Year Life Category award at The Insurance Industry Awards 2020 by FICCI.During the FY2021New Business Premium NBP has increased by 24 from Rs 165.92 billion to Rs 206.24 billion.The AUM has grown by 38 from Rs 1603.63 billion to Rs 2208.71 billion with debtequity mix of 73:27.As at 31 March 2021 the Company has 947 offices 170096 Insurance Advisors IAs and 50240 Certified Insurance Facilitators CIFs across the country.During the year 202021 State Bank of India Promoter has sold 2.1 stake i.e. 21000000 equity shares of Rs 10 each at an average price of Rs 744.05 per share for a consideration of Rs 15.63 billion. BNP Paribas Cardif S.A. Promoter has sold 4.99 stake i.e. 50003480 equity shares of Rs 10 each at an average price of Rs 911.28 per share for a consideration of Rs 45.57 billion.SBI Life won Gold honour at DIGIXX Awards 2021 for Digital Marketing Excellence for M.Connect Life in the Technology sales platform category.New Business Premium NBP has grew by 9 to Rs 33.4 billion in Q1of FY 2022 with 29 growth in First year premium. The AuM has grown by 32 from Rs 1753.5 billion as on 30 June 2020 to Rs 2315.6 billion as on 30 June 2021 with debtequity mix of 72:28.New Business Premium NBP has grew by 14 to Rs 102.9 billion in H1of FY 22 driven by strong growth in regular premium business by 47. The AuM grew by 31 from Rs 1863.6 billion as on 30 September 2020 to Rs 2441.8 billion as on 30 September 2021 with debtequity mix of 70:30.New Business Premium NBP has grew by 30 to Rs 187.9 billion in 9M of FY 22 driven by strong growth in regular premium business by 36.The AuM grew by 23 from Rs 2095.0 billion as on 31 December 2020 to Rs 2568.7 billion as on 31 December 2021 with debtequity mix of 71:29.
OrganisationSBI Life Insurance Company Ltd
HeadquartersMumbai
IndustryInsurance