SBI Life Insurance and State Bank of Sikkim sign a bancassurance pact

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SBI Life Insurance and State Bank of Sikkim sign a bancassurance pact

SBI Life Insurance, one of the most trustful private life insurance companies in India, signed a bancassurance pact with the State Bank of Sikkim at its headquarters in Gangtok, Sikkim. SBI Life's commitment to making insurance solutions accessible to residents of Sikkim, through its trusted bancassurance partner, is evident in the landmark agreement.

The agreement was signed by Shri P.Wangdi Bhutia, Managing Director, State Bank of Sikkim and Shri Jayant Pandey, Regional Director-Bengal Region, SBI Life Insurance in presence of Shri S.R. Karki, Chief General Manager, Deepika Chettri, GM, Dr. Anil Pradhan, GM - SBS, Shri Kunchok Bhutia, GM - SBS, Shri Sameer Sharma, SBS. Manager -SBS, and Shri Vikas Patra, Regional Manager - Bengal, SBI Life; Shri Vikas Patra, Vice President, Institutional Alliance - SBI Life and other dignitaries.

With a vast distribution network spread across the state, SBI Life will provide SBI Life with a wide range of protection, wealth creation and savings insurance products to its customers. This partnership will not only ensure easy accessibility of insurance products but also enable the customers to address their complete financial needs under one roof.

SBI Life Insurance was incorporated in October 2000 and is registered in March 2001 with the Insurance Regulatory and Development Authority of India.

SBI Life serves millions of families in India, offering various products to individuals and groups through protection, pension, savings and health solutions.

SBI Life prioritizes a meticulous approach, focusing on delivering world-class service and delivering a seamless claim settlement experience to its customers, by following high ethical standards of service. SBI Life is dedicated to enhancing digital experiences for both its customers, distributors and employees.

SBI Life aims to make insurance accessible to all, with its 996 offices, 22015 employees and a large and productive individual agent network of about 222,822 agents, 68 corporate agents and 14 bancassurance partners with more than 39,000 partner branches, 133 brokers and other insurance marketing firms.

The company is also committed to offering a flexible and healthy work environment for its employees to excel personally and professionally.

SBI Life strongly encourages a culture of giving back to the society and has played a significant role in the areas of child education, healthcare, disaster relief, and environmental improvement. In 2022-23, the company reached over 1.1 lakh direct beneficiaries through various CSR initiatives.

The company has an authorized capital of Rs. 50000 listed on the National Stock Exchange and the Bombay Stock Exchange. A paid up capital of Rs. 20.0 billion. In total, it is believed to be worth10.0 billion. The AuM is Rs. 3 282.8 billion are currently unaccounted for in the United States.

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