Mumbai: SBI Life Insurance Company Ltd has been ranked the global leader in terms of number of Million Dollar Round Table (MDRT) members. With 2,677 MDRT members, SBI Life is the first Indian insurer to top the list.
MDRT is an association of about 36,000 of the world’s most successful insurance and financial services professionals. Membership to the 2009 MDRT For Indian professionals was based on the applicant making at least Rs7,591,00 in commission, or Rs3,036,400 in premia. SBI Life is the only Indian company in the current top five MDRT members. Of the total 2,677 SBI Life MDRT members, 1,667 insurance advisors are from retail channels while 1,010 are certified insurance facilitators from Bancassurance, or banking channel.
M.N. Rao, managing director and chief executive officer of SBI Life, said: “Our global ranking is a testimony to the robustness of Indian financial services market despite the prevailing global downturn and the vast potential of Indian life insurance industry.”