SBI Life Appoints Dorababu Daparti as Deputy CEO

SBI Life Insurance Company has appointed Dorababu Daparti as its Deputy Chief Executive Officer (CEO), effective February 24, 2025. The decision, based on the Nomination and Remuneration Committee’s recommendation, strengthens SBI Life’s leadership with an experienced professional. Daparti brings over 29 years of experience in the financial sector, having served in key leadership roles at State Bank of India (SBI), including as CEO of SBI Maldives operations.

Key Highlights

Appointment Details

• Appointment Approval: SBI Life’s board has approved Dorababu Daparti as Deputy CEO.
• Effective Date: February 24, 2025.
• Experience: Over 29 years in the financial industry.

Educational Background

• Master’s degree in Sciences (M.Sc.)
• Chartered Associate of the Indian Institute of Bankers (CAIIB)

Career at SBI

• Joined State Bank of India (SBI) in 1995.
• Held multiple managerial and executive roles.
• Served as Country Head & CEO of SBI Maldives (2021-2025).
• Deputy General Manager & Head of Overseas Planning & Strategy in SBI’s International Banking Group (Corporate Centre, Mumbai).

SBI Life Business Overview

• Operates in life insurance covering individual and group policies.
• Offers participating, non-participating, pension, group gratuity, annuity, ULIPs, health, and microinsurance.
• Provides riders such as accident & disability benefits, level term, and critical illness coverage.

Financial Performance (Q3 FY25)

• Net profit surged by 71.19% to ₹550.82 crore.
• Total income declined by 52.21% to ₹18,542.16 crore.