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SBI Life Insurance Company Ltd. Company History and Annual Growth Details

The Company was incorporated at Mumbai on October 11, 2000 as SBI Life Insurance Company Limited, a public limited company under the Companies Act 1956, and received certificate of commencement of business from the RoC on November 20, 2000. The Company is registered with the IRDAI (Registration Number: 111) for carrying out business of life insurance pursuant to the registration certificate dated March 29, 2001.

Major events and milestones of the Company

2000

- The Company commenced its operations

2006

- Only private sector Indian life insurance company to declare profit within six years of incorporation, whilst registering a profit of approximately ? 20 million.

2008

- The Company achieved the breakeven mark.

2010

- The Company crossed gross written premium of ? 100 billion.

2011

- The number of branches of the Company exceeded 500 branches.

2012

- The Company crossed profit after tax of ? 5 billion and declared maiden dividend to the Shareholders.

2013

- The number of branches of the Company exceeded 750 branches.

- The Company exceeded ? 500 billion assets under management.

2016

- The Company crossed gross written premium of ? 150 billion.

2017

- The Company crossed gross written premium of ? 200 billion.

- The Company crossed renewal premium of ? 100 billion.

Awards and Accreditations

2010

- The Company was presented with the award for the ÂBest Annual Report of the YearÂ in the category for insurance sector in the Institute of Chartered Accountants of India awards for excellence in financial reporting.

- The Company was recognized as the ÂNo. 1 Private InsurerÂ by the Million Dollar Round Table(1) 2011

- The Company was part of ÂThe Economic Times Brand EquityÂs Most Trusted BrandÂ survey(2) as ÂIndiaÂs most trusted brandsÂ

- The Company won the ÂLife Insurer Of The YearÂ Award At The Financial Leadership Awards, 2011.

- The Company won the ÂIMC Ramkrishna Bajaj National Quality AwardÂ in the services category.

2012

- The Company was awarded the ÂClaims Service of the YearÂ(3) and ÂUnder-served Market PenetrationÂ(3) awards at the Indian Insurance Awards.

2013

- The Company won the ÂWorld Class Award- Large Service OrganisationÂ presented by the Asia Pacific Quality Organization.

- The Company received ISO 10002: 2004 Certification for its Complaints Management System.

2014

- The Company was adjudged ÂThe Most Admired Life Insurance Company in the Private SectorÂ at the ABP News Banking Financial Services and Insurance Awards 2014.

- The Company was adjudged the ÂBest Life Insurance Provider 2014Â by the Asia, Banking, Financial Services and Insurance Sector awards.

- The Company won the ÂFinancial inclusion and deepening AwardÂ and the ÂPlatinum Award for Excellence in Life InsuranceÂ by Skoch.

- The Company won the ÂNon-Urban Coverage-Life InsuranceÂ award at the Indian Insurance Awards.

- The Company received the ISO 27001:2013 certification for its information security management system.

- The Company received the ISO 9001:2008 certification for its quality management systems for planning, designing and developing training programs.

2015

- The Company was adjudged the ÂBest Life Insurance Company (Private Sector)Â at the Lokmat Banking, Financial Services and Insurance Awards by the World HRD Congress.

- The Company was one of the winners of the 'Golden Peacock AwardÂ for risk management.

- The Company received the ISO 22301:2012 certification for the business continuity management system.

2016

- The Company was adjudged the ÂLife Insurance Company of the YearÂ and ÂBancassurance Leader Life Insurance (Large Category)Â at the Indian Insurance Awards 2016.

- The Company was one of the winners of the ÂGolden Peacock AwardÂ for national quality.

- The Company won the LIMRA and LOMA ÂSocial Media Silver Bowl AwardÂ for best use of social by a company outside of the United States.

2017

- The Company was awarded the Skoch award for ÂPredictive Analytics and Automation of Renewal Management SystemÂ and ÂIntegrated Death Claims Management SystemÂ by the Skoch group.

2018
-SBI Life Insurance inaugurates its New Regional Office in Patna.
-SBI Life Insurance Company Limited has been declared as the Winner of ÂGolden Peacock Award for Risk ManagementÂ for the year 2018.

2019
-SBI Life Insurance inaugurates its regional office in Bhubaneswar.
-SBI Life wins ÂSilverÂ Award in the ÂBest Brand Film: BFSIÂ Category at the Indian Television BrandVid Awards 2019.
-SBI Life wins ÂBest Life Insurance CompanyÂ Award at ICC Emerging Asia Insurance Conclave & Awards 2019.

2020
-SBI Life has won Silver Award under the category of "CSR COVID Relief Project" at the 4th CSR Health Impact Awards 2020.
-SBI Life won the ÂInsurer of the Year- Life CategoryÂ award at The Insurance Industry Awards 2020 by FICCI.

2021
-SBI Life won ÂGoldÂ HonourÂ at DIGIXX Awards 2021 for Digital Marketing Excellence in Technology for M.Connect Life Mobile Application.
-SBI Life won an award for ÂBest Risk Management PracticesÂ at InsureNext Awards by Banking Frontiers.

2022

-SBI Life encourages mothers to go guilt free while taking time out for themselves, launches #GuiltFreeMoms MotherÂs Day campaign.

-SBI Life has announced its association with Rajasthan Royals franchise as their lead helmet partner for the 2023season of the Biggest Cricket League.

-SBI Life collaboration with Jaipur Traffic Police hosted a public awareness drive at Ajmeri
Gate, encouraging residents of Jaipur to prioritize Âprotection.

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