About Us

SBI General Insurance Company Limited

SBI General Insurance Company Limited (SBIG) is a joint venture between the State Bank of India and Insurance Australia Group (IAG). SBI owns 74% of the total capital and IAG, the remaining 26%.

SBIG closed the financial year 2016-17, with a Gross Written Premium of Rs 2604.5 Crores, marking a YoY growth of 28%. As of end of March 2017, the company’s’ geographical coverage extends to 110 cities & branches pan India with 2600+ employees.

The current policy offerings of SBIG covers motor, health, personal accident, travel & home insurance for individuals and fire, marine, package, construction & engineering, liability, group health, group personal accident and miscellaneous insurance for businesses.

SBIG offers products suitable for all segments of customers. On the retail side, we offer a comprehensive motor insurance with wide choice of add on covers. In health insurance, we offer products to cover hospitalization, daily cash benefit and critical illness insurance, personal accident insurance and top up cover. We have a comprehensive bouquet of covers for commercial customer segment ranging from property insurance, liability insurance to SME insurance coverage.

SBIG follows a robust multi-distribution model encompassing Bancassurance, Agency, Broking and Retail Direct Channels. To make insurance easily accessible and available, SBIG has a wide distribution family which includes over 19,000 specified persons of SBI and other Corporate Agents and over 8,500 Individual Agents as on 30th June 2017.

Our corporate vision is to be the most trusted general insurer in India with fair and transparent business practices, leading the Nation's effort in increasing insurance penetration. Our Core Values of Trust, Transparency, Team Work, Learning and High Performance embody who we are as a company, guide our decisions and inspire us. SBIG has also been certified as a Great Place to Work, April 2017-March 2018.

Joint Venture

State Bank of India enjoys the largest banking franchise in India. State Bank of India is country's largest & a premier commercial Bank in terms of balance sheet, profits, assets, deposits, branches and employees. Through the merger of 5 Associate Banks, SBI Group has significantly extended its reach, and network and will benefit from common treasury pooling. SBI now finds itself amongst the world’s largest banks, with a treasury pool of Rs. 9,01,642 crore, with 24,017 branches and 59,263 ATMs. State Bank of India is today going through a momentous phase of Change and Transformation. The Bank has ventured into many new businesses with strategic tie ups in Pension Funds, General Insurance, Custodial Services, Private Equity, Mobile Banking, Point of Sale Merchant Acquisition, Advisory Services, structured products etc each one of these initiatives having a huge potential for growth.

The Bank is surging ahead with cutting edge technology and innovative new banking models, to expand its reach. With 59,263 pan India ATMs complementing its 24,017 branch network, State Bank of India today offers one of the largest banking network to the Indian customer.

Insurance Australia Group (IAG) is a general insurance group with operations in Australia, New Zealand and Asia. IAG's businesses underwrite over A$11 billion of premium per annum and employ over 15,000 people.

IAG operates some of Australia's leading general insurance brands including NRMA Insurance, CGU, SGIO, SGIC and Swann Insurance, WFI and Lumley Insurance.  IAG's heritage dates back to 1925 when the National Roads and Motorists' Association (NRMA) started providing insurance to its members in New South Wales (NSW) and the Australian Capital Territory (ACT).  Products are sold:

  • Directly to customers through both branch and agency networks throughout Australia as well as via call centres and on-line facilities; and
  • Indirectly to customers through intermediary channels, including insurance brokers, authorised representatives, motor dealerships and financial institutions.IAG is the leading general insurer in New Zealand, through its NZI, State ,AMI and Lumley Insurance brands. State and AMI cover predominantly personal assets, such as homes and vehicles, and sell policies directly to the public. NZI and Lumley Insurance specialises in providing business, rural and personal insurance through brokers. In Asia, IAG holds controlling interests in Safety Insurance (Thailand) and AAA Assurance (Vietnam). It also has interests in AmGeneral Holdings Berhad, the general insurance arm of AmBank Group (Malaysia); SBI General Insurance Company, a joint venture with State Bank of India; and Bohai Property Insurance Company Ltd (China).

IAG is the leading general insurer in New Zealand, through its NZI, State ,AMI and Lumley Insurance brands. State and AMI cover predominantly personal assets, such as homes and vehicles, and sell policies directly to the public. NZI and Lumley Insurance specialises in providing business, rural and personal insurance through brokers. In Asia, IAG holds controlling interests in Safety Insurance (Thailand) and AAA Assurance (Vietnam). It also has interests in AmGeneral Holdings Berhad, the general insurance arm of AmBank Group (Malaysia); SBI General Insurance Company, a joint venture with State Bank of India; and Bohai Property Insurance Company Ltd (China).

IAG is an ASX top 30 company with a market capitalisation in excess of A$14 billion. 

  • IAG has been assigned a 'Very Strong' Insurer Financial Strength Rating of 'AA-' by Standard & Poor's for its key wholly owned insurance companies.
  • IAG is ranked in the Dow Jones Sustainability Index.

To know more about IAG, visit http://www.iag.com.au

Vision

Be the most trusted general insurer in India with fair and transparent business practices, leading the Nation's effort in increasing insurance penetration.