SBI Life Insurance Company Ltd. share price target

SBI Life Insurance Company Ltd (SBI Life) is India's largest private life insurer in terms of New Business Premium (NBP) generated as on FY17, with an overall market share of 20%. The company has a wide distribution network consisting of bancassurance channel which includes State Bank, 95,177 individual agents, corporate agents and brokers etc. SBI Life's NBP and PAT has grown at a CAGR of 35.5% and 8.24% respectively over FY15-17. Over the years the company has been continuously focusing on customer satisfaction, its death claims...

SBI Life Insurance Company Ltd (SBI Life) is India's largest private life insurer, in terms of New Business Premium generated in each fiscal year, since Fiscal 2010. SBI Life was established as a joint venture between the State Bank and BNPPC in 2001. As of March 31, 2017, State Bank was India's largest commercial bank in terms of deposits, advances and number of branches. Following its recent merger with certain of its associate banks and a non-affiliate bank, with effect from April 1, 2017, State Bank had 24,017 branches and 195 international offices in 36 countries and more than 420 million customers. As of July 31, 2017, SBI Life had a comprehensive product portfolio of 37 individual and group products (of which eight products are group products), including a range of...

SBI Life Insurance Company Ltd. (SBI Life) was formed as a Joint Venture between the State Bank of India and BNPPC in 2001. State Bank of India was India's largest commercial Bank in terms of deposits, advances and number of branches, as of March 31, 2017. BNPPC, an Insurance subsidiary of BNP Paribas, with operations across 36 jurisdictions internationally, is among the leading credit life insurance businesses globally. SBI Life is India's largest private life insurer, in terms of New Business Premium generated in each fiscal year, since FY10. Between FY15 and FY17, its New Business Premium increased at a CAGR of ~35%, which is the highest...

IPO NOTE

SBI Life Insurance is a JV between State Bank of India (SBI-70%), and BNP Paribas Cardiff (26%). The insurer's new business premium grew 35% from FY15 to FY17; it has a leadership position with 20% market share in New Business Premium (NBP) in FY17. Outlook & Valuation: We believe the Indian Life Insurance industry is in a phase of hi..

Incorporated in 2000, SBI Life Insurance Company Limited is India based private life insurer. SBI Life Insurance is a joint venture between the State Bank and BNP Paribas Cardif. SBI owns 70.1% of the life insurer. BNP Paribas owns a 26% stake with KKR and Temasek holding the rest. BNPPC, an insurance subsidiary of BNP Paribas, with operations across 36 jurisdictions internationally, is among the leading credit life insurance businesses globally. BNP Paribas is in top 10 global financial institutions in terms of revenue. As of July 31, 2017, the company had a comprehensive product portfolio of 37 individual and group products (of which eight products are group products), including a...

The Company will not receive any proceeds of the Offer for Sale by the Selling Shareholder. The objects of the Offer are to achieve the benefits of listing the Equity Shares of the Company on the Stock Exchanges. The listing of Equity Shares will enhance...

At the higher price band of Rs. 661 per share, SLIC's share is valued at a FY17 Price/Indian Embedded Value (P/IEV) multiple of 4.2x, which is at a premium to its only listed peer ICICI Prudential Life Insurance Company Ltd. (trading at a P/IEV of 3.8x). Below are few key observations of the issue: As per Swiss Re report, the protection gap in India stood at 92% (i.e. USD 8.5tn) in 2014, which was much higher compared to other Asian countries. This means that for USD 100 of insurance protection...

Issue Open: Sep 20 Sep 22 2017, Price Band: Rs. 685 700, Issue Size: 120,000,000 Equity Shares,(Entirely Offer for sale) including Employee Reservation and SBI Bank Shareholders reservation) SBI Life Insurance Company Ltd - IPO note