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SBI General Insurance Company Ltd. inaugurates its new regional Office in BKC, Mumbai



SBI General Insurance Company Ltd. inaugurates its new regional Office in BKC, Mumbai

Mumbai, 01st April 2024 – SBI General Insurance Company Ltd., one of India’s leading insurance companies, in its efforts to strengthen its presence in Mumbai Metro, Maharashtra and Goa, inaugurated its new regional office in BKC, Mumbai. This strategic move signifies our dedication to establishing a central hub that will streamline various channels and lines of business across the region.

The opening of the new regional office marks a significant step towards bolstering insurance awareness, fostering economic growth, and underscores our unwavering commitment to delivering accessible insurance solutions to individuals and businesses alike.

The regional office was inaugurated by Mr. Kishore Kumar Poludasu, MD & CEO,SBI General Insurance Company Ltd., in the presence of Mr. G.S. Rana, Chief General Manager (Mumbai Metro Circle), State Bank of India, Mr. Arvind Kumar Singh, Chief General Manager (Maharashtra Circle), State Bank of India, and Mr. Vikas Bagai, Regional Head – West 1, SBI General Insurance Company Limited, and other esteemed dignitaries from State Bank of India and SBI General Insurance Company Ltd.

This milestone reaffirms SBI General Insurance’s mission to be at the forefront of providing innovative insurance solutions tailored to the unique requirements of the region. We firmly believe that our presence in BKC, Mumbai will not only enhance insurance accessibility but also catalyze economic development, ultimately benefiting all stakeholders involved.

Mr. Kishore Kumar Poludasu, MD & CEO of SBI General Insurance Company Ltd., said, “We are delighted to announce the launch of our new regional office, West 1 in BKC. This marks a significant step in expanding our presence in Mumbai Metro, Maharashtra and Goa regions. The establishment of our regional office underscores our commitment to expanding our footprint and serving as a catalyst for insurance awareness and economic growth in the region. With a focus on addressing the country’s low insurance penetration, we believe these efforts will strengthen our connections with end customers and contribute towards the ambitious goal of ‘Insurance for all by 2047’.”

About SBI General Insurance

SBI General is one of the fastest growing private general insurance companies, with the strong parentage of SBI. We, at SBI General Insurance, are committed to carry forward the legacy of trust and security; and have the vision to become the most trusted general insurer for a transforming India.

Ever since our establishment in 2009, our growth has been exponential in various aspects. We have expanded our presence from 17 branches in 2011 to over 141 branches pan-India. Till date, we have served over 34 crore customers. We have been awarded as the ‘Domestic General Insurer of the Year’ – India at the Insurance Asia Awards 2023 Singapore. Additionally, we were recognized as one of the Best Brands 2023 at the ET Edge Best Brands 2023. Furthermore, we were recognised as Highest Growth – General Insurance runner up at ASSOCHAM 15th Global Insurance Summit & Awards. Recently, recognized as the winner in the ‘Best Large General Insurer’ category at the Mint BFSI Summit & Awards 2023.

We have a robust multi-distribution model encompassing Bancassurance, Agency, Broking, Retail Direct Channels and Digital tie-ups. The widespread network of distributors like 22437 plus SBI branches, Agents, other financial alliances, OEMs, and multiple digital partners enable us to extend our reach to the pocketed remote areas of India. We offer a bouquet of products spread across various lines of businesses that cater to customers across all segments like Retail, Corporate, SME and Rural, ensuring accessibility via digital as well as physical modes.

SBI General Insurance reported a 23.4% growth in Gross Direct Premium (GDP) and the GDP stood at INR 8514 crore in 9M FY 23-24.

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