SBI General Insurance Company Ltd

*Data according to IRDA Annual Report (2013-14)

SBI General Insurance Company Limited is a joint venture between the State Bank of India and Insurance Australia Group (IAG). SBI has a 74% stake in the company while the remaining 26% is held by IAG. Headquartered in Mumbai, the company is active in 56 cities across India and is a player in 350+ other locations through satellite resources.

State Bank is a government-owned corporation with its headquarters in Mumbai, Maharashtra. Along with its seven associate banks, it has over 18,500 branches across the country. Insurance Australia Group Limited (IAG) is an international general insurance group, with operations in Australia, New Zealand, the United Kingdom and Asia. Its businesses endorse over $11 billion of premium per annum, selling insurance under many leading brands.

Bhaskar Jyoti Sarma is the CEO and Managing Director of SBI General Insurance.SBI General Insurance has a team of highly experienced professionals in place to ensure that the company functions in sync with its vision and goals. SBI General closed the financial year 2013-14 with a Gross Written Premium of Rs.1188 Crores, registering a growth of 54% in its 4th year of operations.

SBI General offers a wide range of insurance products to suit the different individual needs and preferences of the customers.

Product Portfolio

SBI General Car Insurance Plans:

SBI General Plans provide protective covers along with useful riders and benefits. It offers a comprehensive plan so that you don’t need to worry about anything. Drive safe and follow the traffic rules, and for everything else you have SBI car insurance plans.

SBI General Two Wheeler Insurance Plan:

Two-wheeler insurance is the only thing standing between an accident victim and financial loss. Although, this plan doesn’t going to protect your bones in an accident but that bit of paper can save your thousand bucks which you might have to incur on medical expenses.

SBI General Home Insurance Plans:

SBI General Policies help to safeguard your home and give you a comprehensive to tackle all problems related to your home to ensure disaster free living they also provide you with an inbuilt coverage for earthquake.

SBI General Health Insurance Plans:

Health insurance plans insure you against medical emergencies and keep your finances stable during trying times. Keeping in mind the high medical costs, buying a good health insurance plan makes sense.

SBI General Personal Accident Plans:

SBI Travel Insurance:

Now travel with your loved ones without worries. Things may go wrong even in a well-planned trip, for certain reasons that are beyond our reach. Whether you lose your baggage or passport or even need medical assistance, travel insurance will make sure you have a hassle-free and memorable journey.

It is advisable to compare all SBI General General insurance plans from other General insurance companies in India to choose the best insurance plan that suits you the most.

SBI General Distribution Network:

SBI General's current geographical coverage extends to 20 cities pan India and plans are on to extend this reach to another 25 cities by mid 2012.

SBI General Insurance - Latest News

  • SBI to divest from insurance subsidiaries

    State Bank of India has announced its plan to dilute its stake from its life and non-life insurance subsidiaries, namely, SBI General and SBI Life Insurance. However, the bank claims that the process might take a little time. On the sidelines of India Investment Summit, Arundhati Bhattacharya, SBI chairperson said, "Life and non-life we have already said...But it will take a little time. This is not something which will happen immediately." SBI has proposed to sell about 10 % stake of its life insurance venture, while for general insurance subsidiary it may be up to 23 %. She further stated, "As per IRDA, the shareholders agreement needs to be amended in both of these, so those are the jobs getting done. Subsequent to that we will do." She also disclosed that the bank has developed a robust system to detect any activity related to money laundering, and this development is a part of SBI’s anti-money laundering initiative.