SBI Life tops MDRT 2011 globally
Private life insurer SBI Life Insurance (SBI Life) has topped the prestigious Million Dollar Round Table (MDRT) 2011 across the globe for the third consecutive year.
Mumbai: Private life insurer SBI Life Insurance (SBI Life) has topped the prestigious Million Dollar Round Table (MDRT) 2011 across the globe for the third consecutive year.
"Across the globe, both, agents and insurance facilitator at bank, continue to be a reliable source of personal financial advise. Our accomplishment on a global platform testifies the professional approach followed by our distributors," SBI Life Managing Director and Chief Executive M N Rao said in a release here.
The MDRT membership is an exclusive honour that is achieved by less than 1 percent of the world's life insurance and financial services advisors.
SBI Life has been consistently featuring among the top five insurers, worldwide, since last five years. Globally, the company was ranked fifth in 2007, third in 2008 and first in 2009, 2010 and 2011.
"This accomplishment resonates our commitment towards creating quality advisors. Providing need-based solutions, professional advice and unmatched service will remain the focal delivery points for our advisors," SBI Life Executive Director (Marketing) Rajiv Gupta added.
SBI Life has been ranked No 1 amongst private players in the country as per the latest IRDA report (July), with a market share of 21.6 percent among private insurers and a total market pie of 6 percent.
During the quarter ended June 30, SBI Life recorded a profit of Rs 144 crore, a 27 percent growth over the year-ago period. Its premium grew 13 percent to Rs 1,935 crore in Q1, while new business premium stood at Rs 892 crore.