SBI Life Insurance , one of India's leading private life insurers, has reported a robust performance for the first quarter. The company's net profit increased by 14.4% year-on-year to Rs 594.00 crore, up from Rs 520.00 crore in the same period last year.

Key Financial Highlights

• Gross Written Premium (GWP): Rose by 14% to Rs 17,181.00 crore, driven by a 24% growth in renewal premium
• Value of New Business (VoNB): Grew by 12% to Rs 1,090.00 crore
• VoNB Margin: Improved to 27.4% from 26.8% in the previous year's corresponding quarter
• Assets Under Management (AUM): Increased by 15% to Rs 4.76 trillion
• 13th Month Persistency: Improved by 58 basis points to 87.12%

Market Leadership and Business Growth

SBI Life maintained its leadership position in the private sector for Individual Rated Premium (IRP) and Individual New Business Premium (NBP). The company's market share stood at 22.3% for IRP and 25% for NBP in the private sector.

The insurer witnessed significant growth in various segments:

• Individual New Business Sum Assured grew by 73% to Rs 66,630.00 crore
• Protection New Business Premium stood at Rs 980.00 crore
• Renewal Premium increased by 24% to Rs 10,546.00 crore

Product Mix and Distribution Channels

SBI Life's product mix for the quarter (based on APE) was:

The distribution channel mix for the quarter was:

Financial Strength and Solvency

The company maintained a robust solvency ratio of 1.96, well above the regulatory requirement of 1.50. This indicates SBI Life's strong financial position and ability to meet its obligations.

Management Commentary

Amit Jhingran, Managing Director & CEO of SBI Life, stated, "In the first quarter, the Company achieved a favorable shift in our product mix towards protection solutions and guaranteed non-par savings, reflecting evolving customer preferences and our strategic focus. There has been remarkable growth in New Business Sum Assured, mainly due to growing awareness of customers towards financial security and fulfilling dreams of their loved ones."

Market Performance

Following the results announcement, SBI Life's shares rose as much as 2.81% to Rs 1,844.00 before settling 2.45% higher at Rs 1,837.00. The stock has gained 8.52% over the past 12 months and 32.31% year-to-date.

Analyst Outlook

Of the 37 analysts covering SBI Life Insurance, 35 recommend 'buy' and two suggest 'hold'. The average 12-month price target indicates a 14.9% upside potential from the current levels.

SBI Life Insurance's strong quarterly performance, coupled with its market leadership and robust financial indicators, positions the company well for continued growth in the Indian life insurance sector.

SBI Life Insurance , one of India's leading private life insurers, has reported strong financial results for the first quarter, demonstrating resilience and growth across key metrics.

Financial Highlights

• Profit After Tax (PAT): Grew by 14% year-on-year to ₹5.90 billion
• Gross Written Premium (GWP): Increased by 14% to ₹178.10 billion
• Value of New Business (VoNB): Rose by 12% to ₹10.90 billion
• VoNB Margin: Improved to 27.4%, up from 26.8% in the previous comparable quarter
• Assets Under Management (AUM): Expanded by 15% to ₹4.80 trillion

Operational Performance

SBI Life maintained its strong market position in the private sector:

• Individual Rated Premium: Achieved a 22.3% market share
• Individual New Business Premium: Secured a 25% market share
• Annualized Premium Equivalent (APE): Reached ₹39.70 billion, growing 9% year-on-year
• Individual New Business Sum Assured: Surged by 73% to ₹666.30 billion

Persistency and Solvency

The company reported improvements in key operational metrics:

• 13th Month Persistency: Improved by 58 basis points
• 61st Month Persistency: Increased significantly by 501 basis points
• Solvency Ratio: Maintained a robust 1.96, well above the regulatory requirement of 1.50

Leadership Changes

The Board of Directors has approved the re-appointment of Mr. Amit Jhingran as Managing Director & CEO for the period from October 1, 2025, to January 31, 2027, subject to shareholder approval. This decision ensures continuity in leadership and strategic direction for the company.

Corporate Governance

In a move to strengthen its corporate governance practices, SBI Life has appointed M/s. Aashish K. Bhatt & Associates as Secretarial Auditor for five consecutive years from FY 2025-26 to FY 2029-30, subject to shareholder approval.

Product and Channel Mix

SBI Life's diverse product portfolio and multi-channel distribution strategy continued to drive growth:

Outlook

With its strong financial performance, robust solvency position, and strategic leadership continuity, SBI Life is well-positioned to capitalize on the growing life insurance market in India. The company's focus on improving persistency and expanding its product offerings should continue to drive sustainable growth in the coming quarters.

SBI Life's quarterly results reflect its ability to navigate market challenges while delivering consistent growth and value to its stakeholders.