The Board of Control for Cricket in India (BCCI) made headlines on Wednesday, September 20, by unveiling SBI Life Insurance Company Limited as the Official Partner for the 2023-26 cricket season, encompassing domestic and international cricket. This strategic alliance marks a significant milestone in the world of Indian cricket.
SBI Life Insurance Company Limited, an Indian life insurance giant, traces its roots back to March 2001. What began as a collaborative effort between the State Bank of India (SBI) and the French financial institution BNP Paribas Cardif has evolved into a powerhouse in the insurance sector. Currently, SBI holds a commanding 55.50% stake in this insurance behemoth.
The partnership between SBI Life and the BCCI spans three years and is poised to commence with the upcoming three-match ODI series between India and Australia. This series is a tantalizing prelude to the highly anticipated ICC Men’s Cricket World Cup 2023.
Team India, fresh off their victorious campaign in the Asia Cup 2023, now sets its sights on the Australian challenge. The ODI series opener is scheduled for September 22 at the Punjab Cricket Association IS Bindra Stadium in Mohali, Chandigarh. The cricketing action then moves to the Holkar Cricket Stadium in Indore for the second ODI on September 24. The series culminates with the third and final match at the Saurashtra Cricket Association Stadium in Rajkot on September 27.
In an official statement, BCCI President Roger Binny expressed his excitement about collaborating with SBI Life. He stated, “We are thrilled to announce our partnership with SBI Life as the official partner of BCCI for domestic and international cricket. SBI Life has been one of the torchbearers in the insurance sector, and we are looking to build a solid partnership to take Indian cricket forward.”
BCCI Secretary Jay Shah echoed this sentiment, emphasizing the delight in securing a three-year deal with SBI Life, especially in the lead-up to the World Cup hosted in India. He affirmed, “We are delighted to welcome SBI Life on board as an Official Partner for BCCI’s Domestic and International Season for the next three years, ahead of the prestigious ICC Men’s Cricket World Cup 2023. SBI Life’s commitment to excellence aligns perfectly with BCCI’s vision for cricket. This collaboration reflects our commitment to promoting and supporting the sport of cricket at all levels. We look forward to a fruitful partnership to enhance the cricketing experience for fans and players alike.”
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Ravindra Sharma, Chief of Brand, Corporate Communication, and CSR at SBI Life Insurance, also shared his thoughts on this momentous partnership. He emphasized the significance of cricket in India as a unifying force and acknowledged the pivotal role played by the BCCI in nurturing the sport across the nation.
Sharma remarked, “In the context of sports in India, cricket has unfailingly united our nation over the years, and BCCI’s undeniable role in nurturing the sport across the length and breadth of the country is well respected. As a brand-driven to make a meaningful connection with the consumer, SBI Life’s association as the official partner of BCCI, with its undisputed reach and impeccable credibility, is a marketer’s delight.
Sharma stated, “We look forward to leveraging SBI Life’s association with BCCI to establish a deeper connection with the consumer and impress upon the need for insurance to enable individuals to pursue their dreams. We sincerely hope the visibility offered by the sport will go a long way in spreading awareness about the importance of insurance and furthering the national agenda of ‘Insurance for all ’ by 2047.”
