Sahara Life Insurance

SAT stays Irdai order to transfer Sahara Life Insurance assets to SBI Life

On June 2, Irdai directed SBI Life Insurance to take over policy liabilities of around 2 lakh policies of Sahara Life as the latter failed to comply with the regulatory directions

Transfer of Sahara Life biz unlikely to impact SBI Life's balance sheet

Transfer of liabilities of around two lakh policies along with assets of Sahara Life is unlikely to have a major impact on SBI Life Insurance as the business of the former is very small, an expert said. The total number of policies being transferred is only a small percentage of SBI Life's total policies, a company official said. At the same time, capital related to policies based on actuarial calculation is being transferred to SBI Life, an insurance industry expert said. Besides, the expert said that the new policyholders may provide an opportunity for SBI Life to offer their product depending on their age profile. There may not be a big impact on SBI Life, the expert said, adding, it is also a test case for the industry since it was opened for private players in 2000. On Friday, regulator Irdai directed SBI Life Insurance to takeover the policy liabilities of around two lakh policies along with assets of stressed Sahara India Life Insurance Co Ltd (SILIC). The decision was tak

Not a merger with Sahara Life, just transfer of policyholders: SBI Life

SBI Life, a subsidiary of country's biggest lender State Bank of India (SBI), has said it is not a merger between the two companies but only a transfer of the policyholder related assets and liabilities of Sahara Life Insurance. On Friday regulator Irdai directed SBI Life Insurance to takeover the policy liabilities of around two lakh policies along with assets of stressed Sahara India Life Insurance Co Ltd (SILIC). The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC. Following the Irdai order, SBI Life assured two lakh policyholders of "high levels" of service and commitment as is accorded to our customers. "We have started and we are expeditiously working on the process of integrating all these policyholders in our systems. While the full integration may take some time, we request these policyholders to reach out to us on our helpline number 1800 267 9090 or email us at

SBI Life to take over 200,000 policies of Sahara India Life Insurance

SBI Life, which has 990 branches across the country, serves 49,036,079 policyholders

Irdai asks SBI Life to acquire Sahara India's Life Insurance business

Regulator Irdai on Friday directed SBI Life Insurance Company to take over the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co. Ltd (SILIC) with immediate effect. The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC. "The Authority has identified SBI Life Insurance Company Limited (SBI Life), which is one of the largest life insurers in the country with satisfactory financials, as the acquirer insurer of the life insurance business of SlLIC. "SBI Life shall take over the policy liabilities of around two lakh policies of SILIC, backed by the policyholders' assets, with immediate effect," Irdai said in its order. In a statement, the Irdai said it has also taken necessary steps to ensure the smooth transition for all policyholders of SILIC.

Irdai appoints administrator for Sahara Life Insurance

The action was taken under Section 52 A of the Insurance Act