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February 09, 2016 8:58 AM ET

Insurance

Company Overview of SBI General Insurance Company Limited

Company Overview

SBI General Insurance Company Limited provides insurance products to individuals and businesses. Its individual insurance products include insurance products for motor private cars and two wheelers; long term home insurance products; travel insurance products; group personal and individual personal accident insurance products; and health, critical illness, and hospital daily cash insurance products. The company’s business insurance products comprise fire insurance products for standard fire and special perils, and consequential loss (fire); group health insurance products; motor insurance products for tractors and other farm vehicles, and commercial motors; marine cargo insurance products; p...

"Natraj", 101, 201 & 301

Junction of Western Express Highway

and Andheri Kurla - Road

Andheri (East)

Mumbai,  400 069

India

Founded in 2009

Phone:

91 98 1902 4779

Fax:

91 18 0022 7244

Key Executives for SBI General Insurance Company Limited

Managing Director and Chief Executive Officer
Head - Finance & Administration
Deputy Chief Executive Officer
National Head of Distribution
CRO and Senior Vice President of Internal Audit
Compensation as of Fiscal Year 2015.

SBI General Insurance Company Limited Key Developments

SBI Plans Of Diluting Stakes In Life And Non-Life Insurance Subsidiaries May Take Time

State Bank of India (NSEI:SBIN) announced the process of diluting its stake in life and non-life insurance subsidiaries may take "a little time". SBI proposes to sell up to 10% stake in SBI Life Insurance Company Limited, while it may be about 23% in case of its SBI General Insurance Company Limited.

SBI To List Subsidiaries And Sell Non-Core Assets

State Bank of India (NSEI:SBIN) plans to list some of its subsidiaries on the stock exchanges and sell non-core assets to meet higher capital requirement that will kick with implementation of Basel-III norms from March 2019. "For us, we have a number of non-core assets which we are looking at monetising. We also have very successful subsidiaries which we have not listed. So, we can look at those as well," SBI Chairman Arundhati Bhattacharya said. SBI is looking to divest its stake in its both life and general insurance ventures. In SBI Life Insurance Company Limited it is looking to shed 10% and in SBI General Insurance Company Limited it is open to bring stake down to 51% from 74%.

SBI General Insurance Hires Pushan Mahapatra as New Managing Director and Chief Executive Officer

Pushan Mahapatra has been named as new managing director and chief executive officer by SBI General Insurance, with effect from January 1, 2016, Mahapatra has been linked with the company since July 2014 as General Manager and Chief Operating Officer. In his new role, he would be leading the development of the company all over State Bank of India’s network of 19,000 branches, SBI General Insurances 90 branches and an additional network of 350+satellite branches.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 26, 2015
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