Our Capitals

  • Financial Capital

    ₹ 10.01 billion

    Equity Share Capital

    ₹ 135.90 billion

    Reserves & Surplus

    Nil

    Borrowings

  • Manufactured Capital

    1,040

    No. of Offices

    40,000+

    No. of Partner Branches

    22.6 lakhs

    No. of New Policies Issued

  • Intellectual Capital

    96%

    Renewal Premium Collected Digitally

    99%

    New Policies Sourced Digitally

    36 Individual and 9 Group Products Products for Varied Lifecycle Needs

  • Human Capital

    23,893

    Employee Count

    21%

    Women Employees

  • Social & Relationship Capital

    ₹ 205.41 million

    CSR Expenditure

    72

    Net Promoter Score

    105k+

    Lives Impacted Through CSR Initiatives

  • Natural Capital

    2,735.11 MTCO2 e

    GHG Emissions (Scope 1)

    15,260.10 MTCO2e

    GHG Emissions (Scope 2)

    2,669 kgs

    E-Waste

    158 kl

    Sewage Water Recycled

Chairman’s Message

Dear Stakeholders,

The Indian economy has displayed remarkable resilience in the face of ongoing geopolitical tensions and supply side disruptions, buoyed by proactive policy measures and robust domestic demand. The Gross Domestic Product (GDP) grew by 7.8% in the quarter ending March 31, 2024 and provisionally stands at 8.2% for the FY 2024. India, the fifth largest economy in the World, is expanding at an annual rate of 6-7% and is expected to rank third by 2027 after USA and China.

Dinesh Kumar Khara Chairman
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MD & CEO’s Message

Dear Stakeholders,

It is my privilege to present before you our sixth Integrated Annual Report for the Financial Year 2024. The Report captures the key essence of the year, reflecting major milestones achieved by the Company and the values that truly define SBI Life.

Amit Jhingran Managing Director & Chief Executive Officer
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A Sustainable, Agile and Future-Ready Organisation

Maintaining Leadership in a Dynamic Business Environment
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No.1* in

  • Individual Rated Premium
  • Individual New Business Premium
  • New Business Premium

One of the

Lowest

Operating Expense Ratio

98.9%

Individual Applications Submitted Digitally

* Amongst private life insurers

Standing by Our Brand Promise

SBI LIFE: A BRAND WITH MEANINGFUL PURPOSE

At SBI Life, our purpose is to liberate individuals to pursue their dreams, by securing the needs & aspirations of their loved ones.

REACHING INDIA AT LARGE TO DRIVE LIFE PROTECTION

THE GIANT ASSOCIATION: Just as a helmet is crucial for a cricketer’s safety, SBI Life is committed to protecting the lives and dreams of our customers.

A NEW STEP IN BREAST CANCER PREVENTION

SBI Life’s impactful initiative, “Thanks A Dot”, significantly raised breast cancer awareness with the support of the Women’s Cancer Initiative at Tata Memorial Hospital.

AN INITIATIVE THAT SPELLS PROGRESS

SBI Life stands out as a brand that nurtures young minds and fosters a love for learning.

INSPIRING FATHERS TO INSPIRE OTHERS

SBI Life Insurance proudly upholds the tradition of honouring fatherhood with its “Papa Hain Na” campaign.

TOUCHING TRIBUTE TO PROGRESSIVE MOTHERS

On the occasion of Mother’s Day, SBI Life honoured the fortitude of modern & progressive mothers through a touching digital campaign titled ‘Mummy Ki Apni Pehchaan’.

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Our Value Creation Model

CAPITAL-WISE INPUTS
  • Equity Share Capital: ₹ 10.0 billion
  • AUM: ₹ 3,889.2 billion
OUTPUTS
  • EV: ₹ 582.6 billion
  • VoNB: ₹ 55.5 billion
  • ROE: 13.6%
  • ROEV: 21.8%
OUTCOMES
  • Financial stability
  • Robust cashflows and profitability
  • Superior value for shareholders
SDGs
CAPITAL-WISE INPUTS
  • No. of offices: 1,040
  • Spend on infrastructure
    through capex: ₹ 815.3 million
OUTPUTS
  • No. of policies issued: 22.6 lakhs
  • Lives covered: 37.9 million
  • Persistency ratio: 86.8% (13th month);
    58.6% (61st month)
OUTCOMES
  • Growing distribution network
  • Diverse range of innovative products and services
  • Increased value created for customers
SDGs
CAPITAL-WISE INPUTS
  • Investment in technology:
    ₹ 574.7 million
  • Investment in software: ₹ 46.6 million
OUTPUTS
  • New products launched: 2
  • Renewal premium collected digitally: 96%
  • Individual policies sourced digitally: 99%
  • Robotic process automation: 272
  • E-training modules: 55
  • Individual proposals processed through automated underwriting: 45%
OUTCOMES
  • Strong response to new launches
  • Healthy traction on digital platforms
SDGs
CAPITAL-WISE INPUTS
  • No. of employees: 23,893
  • Spend on employee training: ₹ 332 million
  • Spending on measures towards well-being of employees as a % of total revenue: 0.2%
  • Project Shakti
OUTPUTS
  • Revenue generated per employee: ₹ 3.6 crore
  • Gender diversity: 21.04% women employees
  • Average number of training hours per employee: 10 hours of eShiksha
  • Average number of years spent by an employee in the Company: 4 years 11 months
OUTCOMES
  • Strong employer brand equity
  • Employee engagement and satisfaction
  • Improved talent retention
SDGs
CAPITAL-WISE INPUTS
  • Offices in rural & semi urban areas: 40%
  • No. of CSR partners: 34
  • CSR spends: ₹ 205.4 million
OUTPUTS
  • Net Promoter Score: 72
  • No. of CSR beneficiaries: 105,000+
  • No. of new policies issued in rural areas: 696,067
  • No. of lives covered in social sectors: 15.0 million
OUTCOMES
  • Long-lasting trusted relationships with communities, customers and stakeholders
SDGs
CAPITAL-WISE INPUTS
  • Implementation of ESG framework
  • Tracking emissions
OUTPUTS
  • Scope 1 emissions: 2,735.11 MTCO2e
  • Scope 2 emissions: 15,260.10 MTCO2e
  • E-waste: 2,669 kgs
OUTCOMES
  • Reducing our environmental footprint and creating awareness on conserving natural capital across all internal and external stakeholders
SDGs
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Our Stakeholders

Customers

Employees

Business Partners

Shareholders

Regulators

Suppliers

Communities

Sustainable Development Goals Impacted

Financial Capital

Strengthening Performance and Maximising Value Creation for all

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Intellectual Capital

Combining our Purpose with Technology

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Human Capital

Envisioning an Innovation-driven and Creativity-led culture

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Social and Relationship Capital

Establishing Enduring Relationships Built on Trust

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Natural Capital

One Goal: Leaving Every Place Better and Promoting a Better World

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Awards and Recognitions

SBI Life won the ‘Insurer of the Year- Life category’ at FICCI Insurance Industry Awards 2023 in April 2023

SBI Life Insurance won Special Award for ‘Best Insurance Spreading - Private Sector Company – India’ by Indian Chambers of Commerce (ICC) in November 2023

SBI Life Insurance won an award under the ‘Highest Growth’ category at the ASSOCHAM’s 15th Global Insurance Summit & Awards 2023 in December 2023

SBI Life won ‘Amiable Insurer-Large Category’ at the ET Now Insurance Summit & Awards 2023 in December 2023

SBI Life Insurance won the ‘Global Performance Excellence Award’ (GPEA) 2023 under the 'World Class' category in November 2023

SBI Life recognised as ‘#35 Most Valuable Indian Brand’ by Kantar Brandz 2023 in February 2024

SBI Life won a ‘Silver’ at the Adgully DIGIXX Awards 2023 under the category ‘Programmatic & Performance marketing’ in April 2023

SBI Life won award for the campaign ‘The Most Ignored Rider’ in the category ‘Best use of Celebrity/Influencer’ at e4m Health & Wellness Marketing Awards 2023 in August 2023

SBI Life won award for ‘Excellence in CSR Activities’ at the Navabharat CSR Awards 2023 in June 2023

SBI Life won award for the campaign ‘The Most Ignored Rider’ in the category ‘Best CSR Initiative/Public Awareness’ at e4m Health & Wellness Marketing Awards 2023 in August 2023