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SBI
Life Insurance is a joint venture between
the State Bank of India and Cardif SA
of France. SBI Life Insurance is registered
with an authorized capital of Rs 1000
crore and a paid up capital of Rs 500
crores. SBI owns 74% of the total capital
and Cardif the remaining 26%.
State Bank of India enjoys the largest
banking franchise in India. Along with
its 7 Associate Banks, SBI Group has the
unrivalled strength of over 14,500 branches
across the country, arguably the largest
in the world. Cardif is a wholly owned
subsidiary of BNP Paribas, which is the
Euro Zone's leading Bank. BNP Paribas
is one of the oldest foreign banks with
a presence in India dating back to 1860.
Cardif is ranked 2nd worldwide in creditor's
insurance offering protection to over
35 million policyholders and net income
in excess of Euro 1 billion. Cardif has
also been a pioneer in the art of selling
insurance products through commercial
banks in France and in 35 more countries.
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