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| SBI Life records 169 per cent growth during first quarter | | | Early Times Reporter
Jammu | Aug 7
SBI Life Insurance, one of the fastest growing private life insurers has moved up to number two position in terms of new business premium income during the first quarter of current fiscal as per the latest IRDA report. Its premium has touched Rs. 1148.67 crore during the first quarter recording 169 per cent growth in new business premium as compared to the figures of the corresponding period last year.
SBI life, a joint venture between SBI and BNP Paribas Assurance SBI with a total market share of 8.02 percent and 16.90 per cent amongst the private players owns 74 per cent of the total capital. It has a total authorized capital of Rs.2000 crore and paid up capital of Rs.1000 crore.
The SBI Life Insurance’s mission is to emerge as the leading company offering a comprehensive range of life insurance and pension products at competitive prices ensuring high standards of customer service and world class operating efficiency. |
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