Insurance Regulatory and Development Authority of India (IRDAI) approved the appointment of Amit Jhingran as the new Managing Director and Chief Executive Officer for SBI Life Insurance Company Limited. Amit Jhingran has over three decades of experience in the insurance sector and serves as the Assistant General Manager of the Hyderabad Circle. He joined the company in 1991 as a probationary officer and has been with SBI Life since then. Amit Jhingran had also held the post of CEO of SBI, Chicago.
SBI Life Insurance Company Limited is a prominent and reputable insurance company operating in India. Established to provide a range of insurance products and services, SBI Life is a joint venture between the State Bank of India (SBI) and BNP Paribas Cardif. With a strong foundation and backing from these reputable entities, SBI Life aims to secure the financial well-being of its customers and their families.
The company offers a diverse portfolio of insurance solutions, catering to various life stages and needs. These encompass term insurance, endowment plans, savings plans, retirement plans, and more. SBI Life is dedicated to delivering financial protection, savings, and investment opportunities, all designed to empower individuals to plan for a secure and prosperous future.
Driven by a commitment to customer satisfaction and innovation, SBI Life employs cutting-edge technology and customer-centric approaches to enhance its services. The company’s extensive network of branches and distribution channels ensures that its products and support are accessible to a wide range of customers across India.
SBI Life Insurance Company Limited embodies values of trust, transparency, and reliability, making it a preferred choice for individuals seeking comprehensive and dependable insurance solutions to safeguard their and their loved ones’ financial interests.
The company’s net profit for the June quarter jumped 45 per cent compared to the year-ago period. The net profit of the company stood at Rs 381 crore in Q1FY24. Its net premium rose 19 per cent year-on-year from Rs 11,036 crore to Rs 13,104 crore. The insurer stated that it registered 18 per cent growth in individual new business premium at Rs 4,060 crore, while overall new business premium jumped 11 per cent to Rs 6,210 crore.
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