×
The objective of this Report is to provide stakeholders with relevant financial and non-financial information of the Company, to help them make well-informed investment decisions. Through this Report, we have shared information on our operating context, external environment, business strategies, material matters, performance, governance, key risks, business model and our engagement with stakeholders.
The Report covers financial information and activities of SBI Life Insurance Company Limited for the period April 01, 2023 to March 31, 2024. Additionally, this Report also contains non-financial information and activities of SBI Life Insurance Company Limited.
We have adhered to the Insurance Act, Companies Act, 2013, the Insurance Regulatory and Development Authority (IRDAI) (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations, 2002, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, IRDAI Corporate Governance Guidelines, Accounting Standards issued by the Institute of Chartered Accountants of India (ICAI) and the Secretarial Standards issued by the Institute of Company Secretaries of India (ICSI).
In FY 2019, SBI Life Insurance Company Limited was the first among life insurers, in India, to adopt integrated reporting on voluntary basis. This is the Company's sixth Integrated Annual Report.
We have sought to adopt the guiding principles and content elements of International Integrated Reporting (<IR>) Framework issued by the International Integrated Reporting Council, which is now a part of IFRS Foundation.
The determination of material matters takes into consideration our operating context which includes the legal and regulatory compliance requirements, industry trends and risk management. Our material matters are those which are important to create value for our stakeholders in the short, medium and long-term. We have identified and analysed material matters pertaining to our business and are addressing them to ensure the sustainability of our business.
The Board acknowledges that it has applied its collective mind to the preparation and presentation of the Report. It accepts its responsibility for the integrity of this Report, which in the Board’s opinion addresses all material issues and provides a fair and balanced view of the Company’s performance.
This Report has been prepared in accordance with the applicable laws and regulations and the Board has ensured that the Company has complied with all relevant reporting requirements.
This Report is a concerted effort of the senior management and the Audit Committee along with the Board of Directors of the Company. The senior management collaborated to prepare, present, and validate the information in this Report in accordance with the IR framework.
Certain statements in the Report regarding our business operations may constitute forward-looking statements. While these statements reflect our future expectations, it is important to be mindful that some of the risks, uncertainties and other important factors could cause actual results to differ materially from our expectations.
We welcome your feedback and suggestions on the Report.
Equity Share Capital
Reserves & Surplus
Borrowings
No. of Offices
No. of Partner Branches
No. of New Policies Issued
Renewal Premium Collected Digitally
New Policies Sourced Digitally
Products for Varied Lifecycle Needs
Employee Count
Women Employees
CSR Expenditure
Net Promoter Score
Lives Impacted Through CSR Initiatives
GHG Emissions (Scope 1)
GHG Emissions (Scope 2)
E-Waste
Sewage Water Recycled
Customers
Employees
Business Partners
Shareholders
Regulators
Suppliers
Communities
