SBI LIFE INSURANCE
SBI Life is one of the trusted life insurance company offering a diverse range of products catering to the needs of their clients through protection, pension, savings and health solutions. SBI Life is a joint venture between the State Bank of India and BNP Paribas Cardiff. SBI has a 55.50 % stake in the company and BNP Paribas Cardiff owns a 22% stake.SBI Life places great emphasis on maintaining world-class operating efficiency and providing a hassle-free claim settlement experience to its customers by following high ethical standards of service. SBI Life strives to make insurance accessible to all, with its extensive presence across the country through its 947 offices, a widespread bancassurance network of 14 partners, more than 28,000 partner branches, 111 brokers and other insurance marketing firms.
SBI Life is one of the companies with 0 promoter pledging while Foreign Institutional Investors (FII) are increasing their shareholding in the company. Also, SBI Life is a debt-free company. The company shows a negative to positive growth in sales and profit with strong price momentum on a quarterly basis. SBI Life strongly encourages a culture of giving back to society and has made a substantial contribution in the areas of child education, healthcare, disaster relief and environmental upgrade. In 2019-20, the Company touched over 1.14 lakh direct beneficiaries through various CSR interventions.
The Board of Directors has recommended a dividend of Rs. 2.50 per equity share for the year ended March 2021. SBI LIFE got a 128.63% sequential growth in the consolidated profit and stood at Rs 532.38 crore for the quarter ending March 2021, against the previous quarter at Rs 232.85 crore while revenue declined by 21.31% to Rs 20,886.47 crore in this quarter as against Rs 26,543.40 crore in December quarter. PBT grew by 166.91% QoQ & stood at Rs 622.13 crore while gross profit margin fell by 21.30% QoQ.
The Q4 results of SBI Life Insurance were up to snuff.
