Rating agencies ICRA on Monday said it has assigned iAAA rating to SBI Life Insurance. iAAA rating means the company has the ability to pay highest claims.

The rating was given after taking into account the company’s growth over the last five years, distribution model, extensive reach, strong operation and risk management expertise, low expense structure, efficient capital usage and high channel production, SBI Life said in a release.

“To our customers, iAAA rating of ICRA further reinforces the stamp of SBI assurance. When insuring your life or family, today’s financial sector upheavals reinforce how important it is to choose the right company that is financially secure and has the ability to keep its promises and meet its future obligations,” SBI Life MD & CEO U S Roy said in a release.