SBI Life Insurance Company Ltd.

SBI Life Insurance Company has informed that the Insurance Regulatory and Development Authority of India by way of its order dated 2nd June 2023 bearing reference number IRDA/F&I/ORD/MISC/119/6/2023 (Order) issued under Section 52B (2) of the Insurance Act, 1938 has directed that the policyholder related assets and liabilities of Sahara India Life Insurance Company Limited, as set out in the Order, be transferred to SBI Life Insurance Co Ltd (Company). The Company also informed that this is not a merger between the two companies and is only transfer of the policyholder related assets and liabilities. The policyholder related assets and liabilities being transferred is less than 0.5% of the Balance Sheet of the Company. The Company shall be taking necessary actions to give effect to the order. A copy of the Order and press release in this regard has been uploaded on website and is enclosed.

The above information is a part of company’s filings submitted to BSE.