SBI Life Appoints New MD & CEO Amit Jhingran

Shubham Mittal

9 months ago

Amit Jhingran has been approved by the Insurance Regulatory and Development Authority of India (IRDAI) as the new Managing Director and Chief Executive Officer of SBI Life Insurance Company Limited.

Download Free April 2024 BOLT PDF (Current Affairs)

With more than 30 years of experience in the insurance sector, Amit Jhingran currently holds the position of Assistant General Manager at the Hyderabad Circle. He began his career at SBI Life as a probationary officer in 1991 and has been with the company ever since. He has also previously served as the CEO of SBI, Chicago.

About SBI Life

SBI Life Insurance is a joint venture between the State Bank of India (SBI) and BNP Paribas Cardif. SBI Life is one of the largest life insurance companies in India, with a market share of over 10%.

The company was incorporated in October 2000 and received a Certificate of Commencement of Business from the Registrar of Companies (RoC) on 20 November 2000.
It was registered with the Insurance Regulatory and Development Authority of India (IRDAI) on 29 March 2001.
It offers a wide range of life insurance products, including protection plans, savings plans, and pension plans.
The company also offers a variety of riders, which can be added to the base plan to provide additional benefits.

Presence in Market

SBI Life has a strong distribution network, with over 1.5 million agents and over 5,000 branches.
The company also has a digital presence, with a website and mobile app that allow customers to buy and manage their policies online.
The company has been consistently profitable since its inception.
In the financial year 2021-22, the company reported a profit of ₹4,598 crore.
It is committed to providing financial security to its customers.
The company has a strong track record of claim settlement, with a claim settlement ratio of over 98%.

SBI Life is a reliable and trustworthy life insurance company. The company offers a wide range of products and services, and it has a strong distribution network. It is a good option for individuals and families who are looking for life insurance.

Shubham Mittal

Shubham Mittal is a renowned current affairs writer and expert in government exam preparation, inspiring readers with insightful articles and guiding aspirants with his expertise.

Oliveboard Live Courses & Mock Test Series