The life insurance arm of SBI- SBI Life Insurance has been rated ‘iAAA' by Investment Information and Credit Rating Agency (ICRA) of India Limited.
ICRA has assigned this rating on the basis company's growth over the past five years, distribution model, extensive reach, strong operation and risk management expertise, low expense structure, efficient capital usage and high channel production.
Managing Director and CEO of SBI Life, U S Roy said "To our customers, iAAA rating of ICRA further reinforces the stamp of SBI assurance. When insuring your life or family, today's financial sector upheavals reinforce how important it is to choose the right company that is financially secure and has the ability to keep its promises and meet its future obligations."
iAAA rating to SBI Life shows the company's ability to pay highest returns.
ICRA Limited was set up in 1991 by leading financial and investment institutions, commercial banks and financial services companies as an independent and professional Investment Information and Credit Rating Agency. The international Credit Rating Agency Moody's Investors Service is ICRA's largest shareholder.
ICRA information products, Ratings, and solutions reflect independent, professional and impartial opinions, which assist businesses in enhancing the quality of their decisions and help issuers access a broader investor base.