History of SBI Life Insurance Company Limited (SBI Life) 

_x000D_ Incorporated in October 2000, SBI Life Insurance Company Limited (SBI Life) is one of India's most popular and trusted life insurance companies. It was registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001._x000D_ _x000D_ SBI Life is a joint venture between the State Bank of India (SBI) and BNP Paribas Cardif SA, a French financial institution. The company offers a wide range of products to serve individuals and groups. They provide protection, health, pension and savings solutions. By 2011, the company had more than 500 branches, and by 2013, SBI Life had over ₹500 billion of assets under management. The company launched its IPO in September 2017 and is listed on the BSE and NSE._x000D_ _x000D_ SBI Life operates through a vast network. As of June 2023, they have 996 offices with 22,015 employees. In addition, they have a big agent network consisting of approximately 2,22,822 individual agents and 68 corporate agents. The company has 14 bancassurance partners across a network of over 39,000 partner branches. They also have partnerships with 133 brokers and various other insurance marketing firms. They have a customer base of over 53.58 million._x000D_

Business Segments of SBI Life Insurance Company Limited

_x000D_ The company offers a comprehensive range of products depending on the needs of the customer. The products offered by the company can be availed online on their website or offline and are as follows:_x000D_

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• Protection Plans: Under this category, there are several insurance plans, such as Arogya Shield, SBI Life – eShield Next, SBI Life - Saral Jeevan Bima, SBI Life - Sampoorn Cancer Suraksha, SBI Life - Smart Shield and SBI Life – Grameen Bima.
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• Savings Plans: SBI Life also offers savings options, like SBI Life- Smart Lifetime Saver, SBI Life – New Smart Samriddhi, SBI Life – Smart Future Choices and many more. A few of these savings plans come with protection as well.
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• Wealth Creation with Insurance: As the name suggests, this category offers wealth growth plans that also offer insurance coverage. Some of the plans are SBI Life - Smart Power Insurance, SBI Life – Smart Wealth Assure, SBI Life – Smart Wealth Builder, etc.
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• Retirement Plans: The products under this category help in retirement corpus creation. The products included are SBI Life- Retire Smart Plus, SBI Life - Retire Smart, etc.
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• Child Plans: The plans under this category are designed to help your child’s future expenses, like higher education. It includes SBI Life – Smart Champ Insurance and SBI Life - Smart Scholar.
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• Money Back/Income Plans: The money back plans under this category are SBI Life - Smart Income Protect, SBI Life - Smart Money Planner and SBI Life – Smart Money Back Gold. These plans aim to offer regular income.
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_x000D_ As of March 31, 2023, SBI Life Insurance Company Limited has no subsidiaries._x000D_

Key Personalities of SBI Life Insurance Company Limited

_x000D_ Amit Jhigran, CEO and Managing Director_x000D_ _x000D_ Amit Jhigran is the CEO and MD of SBI Life. He joined SBI in 1991 as a Probationary Officer (PO) and, since then, has been part of various departments, such as retail banking, international banking, and branch management. Before joining SBI Life, he was the Chief General Manager at Hyderabad Circle and the CEO of SBI, Chicago._x000D_

Corporate Actions of SBI Life Insurance Company Limited

_x000D_ There are no records of stock splits or bonus shares from SBI Life Insurance Company Limited._x000D_

SWOT Analysis of SBI Life Insurance Company Limited

_x000D_ Strengths_x000D_

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• Supported by SBI, which is its majority shareholder. This helps the company maintain a good capital position.
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• It is in partnership with big financial institutions in the market, such as India Post Payments Bank, Karur Vysya Bank, etc.
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_x000D_ Weakness_x000D_

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• Other players can replicate the business model.
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_x000D_ Opportunities _x000D_

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• Tap into group insurance options by partnering with large corporations.
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_x000D_ Threats_x000D_

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• The insurance sector is highly regulated, and the company has to keep up with the regulations and policies.
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• The company is subjected to insurance risks, such as health-related and mortality risks.
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