SBI Life Insurance Company Ltd. is a joint venture between India’s largest bank, State Bank of India and Cardif S.A., a leading Life Insurance company in France. State Bank of India (SBI) is a household name, and it stands as the last word for financial strength and security in the country. SBI’s illustrious background dates back to the year 1806 when it started business, as a presidency bank, known as Bank of Bengal.
SBI card in 1998 saw a new vista opening for the Indian credit card users. GE Capital Services, the largest issuer of private label credit cards in the world and State Bank of India, the largest Indian bank created two companies to address the market: namely, SBI Cards and Payment Services Ltd. (SBICPSL) and GE Capital Business Process management Services ltd. (GECSBPMSL).
SBI Mutual Fund draws strength from India’s premier and largest bank; the State Bank of India. Set up on July 1, 1955, the State Bank of India is the largest banking operation in the country. Through years of commitment to service and national development, SBI has grown into an instrument of social change. Today, it has 9,019 branches in India (excluding over 700 branches of banking subsidiaries) and 51 offices in 31 countries spread over all time zones.
SBI General Insurance Company Limited is a joint venture between the State Bank of India and Insurance Australia Group (IAG). SBI owns 74% of the total capital and IAG the remaining 26%.
SBI General follows a robust multi-distribution model encompassing Bancassurance, Agency, Broking & Retail Direct Channels. Today, SBI General’s Distribution family includes over 9,400 IRDA certified SBI & its Associate Bank employees and over 3,200 Agents.
Current Policy offering of SBI General covers Motor, Health, Personal Accident & Home Insurance for Individuals and Aviation, Fire, Marine, Package, Construction & Engineering, Liability, Group Health, Group Personal Accident & Miscellaneous Insurance for Businesses.