SBI Life New Himayatnagar Branch opened
Author(s): City Air NewsArijit Basu, MD & CEO, SBI Life seen inaugurating the new branch and also seen Debasis Chatterjee, Regional Director, Hyderabad Region. Hyderabad, December 4, 2015: SBI Life Insurance opened its new branch at Himayatnagar....
cityairnews
Dec 4, 2015 12:30
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Arijit Basu, MD & CEO, SBI Life seen inaugurating the new branch and also seen Debasis Chatterjee, Regional Director, Hyderabad Region.
Hyderabad, December 4, 2015: SBI Life Insurance opened its new branch at Himayatnagar. It was inaugurated by Mr Arijit Basu, MD & CEO of the company. Mr Debasis Chatterjee, Regional Director, Hyderabad Region also graced the function.
SBI Life Insurance’s Hyderabad Region, comprises of both Telangana and Andhra Pradesh states and contributes highest volumes of business in terms of new business and renewal out of 14 Regions in the country. SBI Life Hyderabad Region plans to recruit 4000 insurance Advisors in this financial and targets new business premium of Rs700crore and Gross Premium of Rs 2100 crore.
SBI Life Insurance’s Hyderabad Region has produced 600 high performers who did business more than Rs 25 lakh a year. This year our aim is to double this number. This year we are planning to open up few more offices in the Region, informed Mr. Arijit Basu, which is our commitment towards the states of Telangana and Andhra Pradesh.
Hyderabad is the strongest region and very important market for us said, Mr. Arjit Basu, MD and CEO of the company.
Mr. Debasis Chatterjee stated that the Hyderabad Region comprising Telangana and Andhra Pradesh states, has got 74 branches. Last year Hyderabad region has achieved Gross Premium to the tune of 1600 Crores. He said that the Region is planning in a big way to cover half a lac of Women through our different policies, by 8th March, 2016, coinciding with the “International Women’s Day”.
As a part of our Corporate Social Responsibility, we have distributed School kits to 3000 under privileged children under “Shiksha se Safaltha” program, across the states of AP and Telangana, he informed.
Our net worth increased to Rs. 4,039 crores from Rs 3,342 crores in the last fiscal, The Gross Total Premium received in year was Rs. 12,867 crores, of which the new business premium accounted for Rs. 5,529 crores and renewal premium accounted for Rs. 7,338 crores. Corresponding figures for last financial year were Rs. 10,739 crores, Rs. 5,066 crores and Rs. 5,673 crores respectively, he said
We have covered 133 lakh lives as on 31st March 2015, which is an increase of 4.93% over the previous year. We have covered 65,745 lives in the social sector as against the mandated 55,000 lives he said.
SBI Life has 750 offices across India. We have 84000 agents. Out of these 34000 are very active. Agent productivity by far is the best.
On our individual platform we have 24 products. IRDAI doesn’t allow launching more than seven new products a year. Recently we have launched a new product –“Smart Humsafar”, which will provide Risk cover with savings, to both couple under one Policy. We are looking to launch two new products. One is to cater to the financial needs of women and the other one is for NRI customers, he said.
SBI Life Insurance has a suite of products in various categories like protection, wealth creation, savings, child, retirement, etc. together with insurance, to address needs of diverse customer segments.
In 2014-15, SBI Life reinforced its outreach initiatives in the realm of child welfare, across different parts of the country, in line with its CSR goals. The company has extended its support to nurture not only the educational aspirations of the children but also providing for their physical well being.
Date:
Friday, December 4, 2015
