About Us

About SBI General Insurance

SBI General Insurance Company Limited commenced its operations in the year 2010 and is a 74: 26 joint venture between State Bank of India and Insurance Australia Group (IAG). The company offers a wide range of general insurance products in retail and commercial space at affordable prices to make insurance accessible to all individuals and businesses.

The company offers a complete suite of products ranging from Motor, Health, Personal Accident, Travel and Home Insurance in the retail space and products like Aviation, Fire, Marine, Package, Construction & Engineering and Liability Insurance in the commercial space.

SBI General Insurance follows a robust multi-distribution model encompassing Bancassurance, Agency, Broking and Retail Direct Channels. Today, SBI General’s Distribution family includes over 19,000 IRDA certified employees including the State Bank Group's employees and over 8000 Agents to make insurance easily available even in the remote areas of the country.

SBI General Insurance has established its presence in nearly 21000 branches of State Bank Group. The company’s current geographical exposure covers 100+ cities pan India with a presence of another 350+ locations through satellite resources. SBI General Insurance is currently serving three key customer segments i.e. Retail Segment (catering to Individual & Families), Corporate Segment (catering mid to large size companies) and SME Segment.

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.