On Father’s Day, SBI Life’s #PapaHainNa digital film showcases a

On Father’s Day, SBI Life’s #PapaHainNa digital film showcases a father’s unspoken commitment towards protecting his loved ones

The film highlights a father’s responsibility not only towards his immediate family, but also towards the society

The pandemic has re-shaped our perspective around the responsibilities of fathers at home and the way they are adapting to a new lifestyle while simultaneously fulfilling the promise of protecting their family. Recognising the larger role played by Fathers towards the family as well as society, this Father’s Day, SBI Life Insurance, one of the most trusted private life insurers in the country, has released a heart-warming digital film. It depicts the emotional and protective side of a father towards his evolving responsibilities amidst the pandemic.

Link to the digital film: https://www.youtube.com/watch?v=YZrClVZ39-g

Conceptualized by WAT Consult, the digital film showcases a bond between a father and a young boy with an emotional twist in the end. While speaking to the father, the young boy is trying to cover up his troubles in dealing with the challenges brought about by the pandemic induced lockdown. But thanks to a father’s instinct, he understands the young boy’s troubles and extends all possible help. The warmth displayed in their conversation makes it easy to believe that it is a father-son relationship. However, towards the end of the film, it is revealed that the man is not the biological father of the boy. In fact, the young boy is the child of his domestic help, who has been taking care of his family for years. 

Mr. Ravindra Sharma, Chief of Brand, Corporate Communication & CSR, SBI Life, said, “While men have been consistently taking up household responsibilities as an intrinsic part of their lives, the pandemic and lockdowns have brought to focus, the lesser spoken role of fathers, owning up responsibilities over and above family duties. Our Father’s Day film, in essence, is an insight that is being widely observed in the Indian households today, wherein families are extending help to people unconditionally. SBI Life’s #PapaHainNa campaign is a hat tip to fathers who are actively contributing towards bringing about a societal change.”

The film highlights how, during the pandemic, fathers are not only breaking stereotypes by participating in domestic chores, but also fulfilling their promise of protecting their immediate as well as extended family.

Ms. Heeru Dingra, CEO, WATConsult said, “SBI Life’s digital property, #PapaHainNa, has been celebrating the spirit of a father’s love since 2015. This Father’s Day, the brand continues to live up to the tradition with yet another heart-warming campaign focusing on a father’s commitment to protect. Fathers are rightly titled as superheroes because they inevitably save the day. Hence, brands have leveraged this beautiful father-child bonding concept extensively. However, this campaign is so much more. It’s bound to leave our viewers speechless, courtesy the unexpected twist.”

SBI Life Insurance registers New Business Premium

SBI Life Insurance registers New Business Premium of Rs. 20,624 crores
for the year ended on 31^st March, 2021  

SBI Life Insurance, one of the leading life insurers in the country registered a New Business Premium of Rs. 20,624 crores for the year ended on 31^st March, 2021 vis-a-vis Rs. 16,592 crores for the year ended March 31, 2020. Single premium has increased by 52% over the corresponding year.

 

Establishing a clear focus on protection, SBI Life’s protection new business premium stood at Rs. 2,459 crores for the year ended March 31, 2021 marking a year-on-year growth of 18%. Protection Individual new business premium registered a growth of 40% and stood at Rs. 742 crores for the year ended March 31, 2021. Individual New Business Premium stands at Rs. 12,499 crores with 11% growth over the corresponding year.

 

SBI Life’s profit after tax stands at Rs. 1,456 crores for the year ended March 31, 2021.

 

The company’s solvency ratio continues to remain robust at 2.15 as on March 31, 2021 as against the regulatory requirement of 1.50.

 

SBI Life’s AUM also continued to grow at 38% to Rs. 2,20,871 crores as on March 31, 2021 from Rs. 1,60,363 crores as on March 31, 2020, with the debt-equity mix of 73:27. 90% of the debt investments are in AAA and Sovereign instruments.

 

The company has a diversified distribution network of 2,25,381 trained insurance professionals and wide presence with 947 offices across the country, comprising of strong bancassurance channel, agency channel and others comprising of corporate agents, brokers, micro agents, common service centers, insurance marketing firms, web aggregators and direct business.

 

Performance for the year ended March 31, 2021

 

·  New Business Premium at Rs. 20,624 crores, growth of 24% with private market share of 21.9%

·  Renewal Premium at Rs. 29,630 crores, growth of 23% with strong 13^th month persistency at 87.92% and 61^st month persistency at 61.63%

·  Gross written premium (GWP) crosses Rs. 500 billion mark

·  Private market leadership in Individual Rated Premium (IRP) with 22.6% market share

·  Assets under Management (AuM) grew by 38% to Rs. 2,20,871 crores

·  Operating cost efficiency further strengthen from 5.9% to 4.8%

·  New Business Margin increased by 170 bps to 20.4%

·  Value of New Business registered growth of 16% amounting to Rs. 2,334 crores

·  Indian Embedded Value (IEV) grew by 27% to Rs. 33,386 crores

·  Interim dividend of Rs.2.5 per share with a strong solvency ratio of 2.15

Anupam Rasayan overall subscribed

Anupam Rasayan overall subscribed 1.29 times on Day 1

Surat based, custom synthesis and manufacturing focused specialty chemicals company Anupam Rasayan India Limited; received bids of 1,25,08,209 shares against the offered 96,66,848 equity shares, as per the 5:00 pm data available on the bourses.

The portion reserved for retail investors was subscribed 2.59 times. While the Qualified Institutional Buyer remained unsubscribed, the Non-Institutional Investor category was subscribed 0.09 times.  The Employee category was subscribed 0.30 times.

The offer consists of a fresh issuance of equity shares aggregating up to 760 Cr of face value of Rs 10 each. The minimum bid lot is of 27 equity shares, thereafter in multiples.  The price band has been fixed at Rs. 553 – Rs. 555 per Equity Share. It will be listed on BSE & NSE. Prior to the IPO opening, the company raised Rs 225 cr via a pre ipo placement through 15 Anchor Investors across Asia, US & UK which included participation from marquee investors like Birla MF, Nomura Asset Management, Fidelity International, Sundaram MF, SBI Life and others.

 Key brokerage houses like Axis Securities, ICICI Direct, Motilas Oswal, Canara Bank Securities Ltd, Kotak Securities, Angel Broking, HEM Securities, Choice Capital, BP Securities and Ventura have given positive recommendations for the issue while highlighting the key strengths of the company like diversified customer base, core focus on process innovation and constant upgradation, consistent R&D, stringent quality specifications, strong and long-term client relationships, marquee client base amongst others. These report have further highlighted the Company’s consistent track record of financial performance and experienced management as one of the key advantages of the Company.

The reports have also highlighted that India’s specialty chemicals industry is expected to grow at a CAGR of approximately 10% to 11% over the next five years and that India accounts for approximately 1% to 2% of the global exportable specialty chemicals; which indicates a large scope of improvement and widespread opportunity in the speciality chemicals segment.

Axis Capital Limited, Ambit Private Limited, IIFL Securities Limited and JM Financial Limited are the book running lead managers to the Issue. 

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SBI Life unveils a comprehensive Financial Immunity survey

SBI Life unveils a comprehensive Financial Immunity survey, providing valuable insights into consumer predispositions in a post covid world

Key findings: 

~  8 in 10 Indians (78%) strongly feel that stress / anxiety affects mental & physical immunity

~  Over 50% Indians not sufficiently prepared to face financial emergency related to lifestyle diseases

~  Top 3 financial worries:

o  Financial security against critical illnesses

o  Family member getting infected by any lifestyle disease or Covid-19

o  Job or income loss

~  8 in 10 Indians (80%) associate Life Insurance with ‘Safeguarding the family’s future’

~  More than 6 in 10 Indians (61%) have bought or intend to buy critical illness plan/ cover to address the rising treatment costs and to avoid financial pressure on the family

~  7 in 10 Indians (75%) not having a critical illness cover, intend to buy one in the next three months

 SBI Life Insurance, one of most trusted private life insurers in the country unveiled a comprehensive consumer survey, providing deep insights into consumer predispositions towards Financial Immunity in a post covid world. SBI Life commissioned the ‘Understanding consumer attitude towards Financial Immunity’ survey with The Nielsen Company, reaching out to over 2,400 consumers across 13 key cities covering the length and breadth of India.     

                                                                                           

Understandably, in the wake of COVID-19, maintaining personal physical immunity has been on the fore, with almost every respondent confirming to have increased focus on physical immunity in some way. In fact, 8 out of 10 Indians are aware that ‘stress’ lowers mental and physical immunity.  

 

The survey further attempts to better understand the cause of stress, by enquiring about the top financial worries of the consumer today. The top three reasons for stress are attributed to (1) Financial Security against critical illness, (2) Family member getting infected by any lifestyle disease or Covid-19 and (3) Job or income loss. The reasons for financial worries cited by consumers underpin the stress caused by financial management of lifestyle diseases. Alarmingly, over 50% Indians are not sufficiently prepared to face any financial emergencies related to lifestyle diseases.

 

On the brighter side, the pandemic has brought in a realization on the need for protection, with 7 out of 10 Indians who currently do not own a Critical Illness cover, explicitly expressing an intention to buy one in the next three months. Another encouraging insight thrown up by the survey, is that 8 out of 10 consumers purchase Life and Health insurance with a clear motive of safeguarding family’s future.

 

Speaking about the survey findings, Mr. M Anand, President – Zone II, SBI Life said, “Over the last six months, individuals and families across the length and breadth of our nation, have shown tremendous resilience in coping with the pandemic. Despite the challenging environment, SBI Life’s consumer study on ‘Financial Immunity’ highlights the reassuring sentiment on the need to build a robust Financial Immunity to safeguarded one’s future and be protected from financial adversities.” He further added, “At SBI Life, we strongly believe that gaining financial immunity rests at the foundation of achieving one’s life objectives.”

 

SBI Life Insurance registers 5% growth in

SBI Life Insurance registers 5% growth in Net Profit to Rs 390 crores
for the quarter ended June 30, 2020

SBI Life Insurance, one of the most trusted private life insurers in the country, registered a 5% growth in Net Profit to Rs. 390 crores for the period ended June 30, 2020 as compared to Rs. 371.90 crores in the corresponding quarter last year.

With a market leadership of 23.9% private market share in Q1 FY 2021, the company continues its focus towards the protection category. Besides this, the company also witnessed strong growth in its 61st-month persistency ratio based on premium by 687 bps. Single premium has increased by 31% over the corresponding year.

The New Business Premium is Rs. 3,059 crore for the period ended on 30th June 2020.

The company’s solvency ratio remains robust at 2.39 as on June 30, 2020 as against the regulatory requirement of 1.50.

SBI Life’s AUM also grew by 19% to Rs. 1,75,355 crore as on June 30, 2020 from Rs. 1,46,954 crore as on June 30, 2019, with the debt-equity mix of 76:24. 90% of the debt investments are in AAA and Sovereign instruments.

The company has a diversified distribution network of 1,90,696 trained insurance professionals and wide presence with 940 offices across the country, comprising of strong bancassurance channel, agency channel and others comprising of corporate agents, brokers, micro agents, common service centers, insurance marketing firms, web aggregators and direct business.

Performance for the period ended June 30, 2020

•          Increase in net profit by 5% to Rs. 391 crore

•          Private market leadership in Total New Business Premium (NBP) with 23.9% market share

•          80 bps increase in VoNB margin to 18.7% as compared to Q1 FY 2020

•          Strong growth in 61st-month persistency ratio based on premium by 687 bps

•          Robust solvency ratio of 2.39

•          Decrease in Operating expense ratio to 7.0% from 7.3%

•          Growth in Gross written premium by 14%

SBI Life launches ‘Apno ki #PoornaSuraksha’ campaign

SBI Life launches ‘Apno ki #PoornaSuraksha’ campaign, to highlight the prominence of financial immunity provided through a dual protection insurance

~   ‘Apno Ki #Poorna Suraksha’ campaign features popular playback singer Shaan along with his son Shubh, emphasizing the need to maintain immunity of both physical and financial health

SBI Life Insurance, one of the most trusted private life insurers in India, today, unveiled its new product campaign ‘Apno Ki #PoornaSuraksha’, highlighting the product’s (SBI Life’s Poorna Suraksha) dual protection feature which offers complete financial immunity by providing both Life cover and protection against 36 Critical Illnesses in a single plan with an auto-rebalancing aspect which is much needed to navigate through the current uncertain times.

The ad film features popular playback singer, Shaan alongside his son Shubh, emphasizing the need to maintain immunity. The film opens with a charming father son role reversal conversation, where Shaan is being interrupted by Shubh at various instances while performing daily activities, only to be reminded of ways to boost and keep the health immunity in check at all times. Shaan, expresses how kids these days have become immunity specialists to their parents. Similarly, he continues to highlight the importance of building a healthy financial immunity for choppy times that will enable in creating a financial cushion to safeguard oneself and the loved ones from any monetary stress led by lifestyle diseases or other unforeseen consequence.

Link to the video: https://youtu.be/x6Tf7ZrHLeU

Today, critical illnesses account for 60% of deaths in India, according to the Global Burden of Disease Study. Treatments to cure critical illnesses are usually lengthy and expensive, making it very difficult for the family to afford the costs. Therefore, it is paramount to focus on building one’s financial immunity for tough times so that mental immunity stays guarded, in case of a lifestyle disease or any other unforeseen event. 

Speaking on the launch of ‘Apno ki #PoornaSuraksha’ campaign, Mr. Ravindra Sharma, Chief of Brand and Corporate Communication, SBI Life said, “A newfound immunity regime has become second nature for most of us, today the larger populace is consciously making smart choices around health, wellness and life in general. Delving deeper into this intrinsically protective behaviour, that is consuming everyone across sections of the society, we realized that as an Insurance player our role to provide immunity to the consumer has never been more accentuated. With an approach of keeping a simple communication for an insurance category, we have drawn a parallel for financial immunity via the concept of health immunity which is understood by all. We hope to educate the consumer on the importance of building one's financial immunity like they have towards their health. SBI Life’s Poorna Suraksha being a unique product combining both life cover and protection against 36 critical illness in a single package, this dual protection can enable individuals to build a holistic financial immunity, as a safety net for themselves and their family to battle against any odds”.

Ms. Garima Khandelwal, Chief Creative Officer, Mullen Lintas said, “Health Immunity is of priority today, with everyone aware and abreast like never before. We have all realised the importance of being proactive about immunity when it comes to good health, and made changes to our routines, self-care is undoubtedly the no. 1 learning today. This being the context, we wanted to introduce a parallel need for one’s family’s financial immunity, being as proactive about the same. And it’s relevance in this landscape. Drawing a simple parallel between health and financial immunity and stressing on the need for both, borrowing from the current and changed awareness in the behaviour”.