SBI Life Insurance Company Limited (SBI Life) established in 2001 is a joint venture between State Bank of India (SBI) and BNP Paribas Cardif S.A. and is one of the leading life Insurance companies in India. SBI has an unrivalled strength of over 22000 branches across the country making it the largest banking group in India. BNP Paribas Cardif S.A. is the life and property & casualty insurance arm of BNP Paribas one of the strongest banks in the world. SBI Life offers a comprehensive range of life insurance and pension products. The company offers individual and group products which include savings and protection plans to address the insurance needs of diverse customer segments. SBI Life has a multi-channel distribution network comprising of an expansive Bancassurance channel with SBI and agent network comprising of 1.13 lakh agents as on September 30 2018. The company's other distribution channels include direct sales and sales through corporate agents brokers insurance marketing firms and other intermediaries. As on September 30 2018 the company had a widespread network of 848 offices across the Country.SBI Life Insurance Company Limited was incorporated as a public limited company at Mumbai on October 11 2000 and received certificate of commencement of business from the RoC on November 20 2000. The Company is registered with the IRDAI for carrying out business of life insurance pursuant to the registration certificate dated March 29 2001. During financial year 2002-03 SBI Life launched Bancassurance channel. It also paid its first claim during the year. During financial year 2004-05 SBI Life's Assets Under Management (AUM) crossed Rs 1000 crore mark. In January 2005 SBI Life launched unit linked product. During financial year 2005-06 SBI Life became the first new generation private life insurance company to make profit; the company registered profit after tax of Rs 2.03 crore for the year.During financial year 2007-08 SBI Life's Gross Written Premium (GWP) crossed the milestone of Rs 5000 crore and AUM crossed the milestone of Rs 10000 crore. The company also achieved cumulative breakeven during the year wiping out all accumulated losses. During the year the company's share capital increased by Rs 500 crore to Rs 1000 crore. During financial year 2009-10 SBI Life's GWP crossed the milestone of Rs 10000 crore. During financial year 2010-11 SBI Life's branch network crossed the milestone of 500 branches.During the financial year 2011-12 SBI Life achieved the milestone of profit after tax (PAT) of Rs 500 crore; the company reported PAT of Rs 556 crore for the year. It also declared a maiden dividend of 5% during the year. During the financial year 2012-13 the company's AUM crossed the milestone of Rs 50000 crore and the number of branches crossed 750. During the financial year 2015-16 SBI Life's GWP crossed the milestone of Rs 15000 crore.During the financial year 2016-17 SBI Life's renewal premium collection crossed the milestone of Rs 10000 crore. Also during the year Value Line Pte Ltd and McRitchie Investments Pte Ltd. bought stake of 1.95% each in SBI Life from SBI. SBI Life Insurance increased its market share of New Business Premium generated among private life insurers in India from 15.87% in Fiscal 2015 to 20.04% in Fiscal 2017. Between Fiscal 2015 and Fiscal 2017 the Company's New Business Premium generated increased at a CAGR of 35.45% which is the highest among the top five private life insurers (in terms of total premium in Fiscal 2017) in India.In Fiscal 2017 SBI Life Insurance enjoyed a market share of Individual Rated Premium of 20.69% among private life insurers in India and 11.16% of the entire life insurance industry in India. Between Fiscal 2015 and Fiscal 2017 its Individual Rated Premium increased at a CAGR of 37.90 % the highest among the top five private life insurers (in terms of total premium in Fiscal 2017) in India. The Company has also issued the highest number of individual life policies annually among the top five private life insurers (in terms of total premium in Fiscal 2017) in India since Fiscal 2014.As of June 30 2017 SBI Life had a comprehensive product portfolio of 37 individual and group products including a range of protection and savings products to address the insurance needs of diverse customer segments. Its individual products include participating products non-participating protection products other non-participating products and unit-linked products which contributed 10.77% 0.95% 1.69% and 50.36% respectively of its New Business Premium in Fiscal 2017; while its group products include credit life group protection products other group protection products group fund management ('Group FM') products and other group products which contributed 2.72% 1.14% 31.73% and 0.65% respectively of its New Business Premium in Fiscal 2017. During the financial year 2017-18 SBI Life achieved AUM milestone of Rs 1 lakh crore.State Bank of India offloaded 8 crore shares and BNP Paribas Cardif S.A. offloaded 4 crore share of SBI Life Insurance Company via an initial public offer (IPO) during the period from 20 September 2017 to 22 September 2017. There was no fresh issue of shares by the company. The stock debuted on BSE at Rs 733.30 on 3 October 2017 a premium of 4.75% compared to the IPO price of Rs 700 per share. On 24 September 2018 SBI Life Insurance Company Limited announced that it has been informed by BNP Paribas Cardif SA (BNP Paribas Cardif) that BNP Paribas Cardif may consider reducing its shareholding in the company to ensure compliance with minimum public shareholding requirements in accordance with applicable law. In this context BNP Paribas Cardif has also confirmed that it is yet to make any firm decisions regarding the size timing or nature of such potential reduction in their shareholding of the company. Accordingly further updates will be provided in compliance with the applicable law.