SBI Life reported a 19% growth in new business premium, reaching INR 313.3 billion. The company’s profit after tax increased by 4% to INR 16.7 billion. Value of New Business grew by 17% to INR 50.4 billion, with a VONB margin of 27.2%. Assets Under Management reached INR 5.1 trillion, reflecting customer confidence and disciplined execution. The company maintains a strong solvency ratio of 1.91.
Financial Performance Highlights
SBI Life reported strong performance for Q3 FY26, with New Business Premium at INR 313.3 billion, a growth of 19%. Individual-rated New Business Premium reached INR 166.8 billion, up by 15%. Gross Written Premium grew by 20% to INR 733.5 billion.
Profitability and Market Position
Profit after tax increased by 4% to INR 16.7 billion. Value of New Business (VONB) grew by 17% to INR 50.4 billion, and the VONB Margin stood at 27.2%. The company’s Indian Embedded Value stood at INR 801.3 billion. SBI Life’s Assets Under Management (AUM) reached INR 5.1 trillion, a growth of 16%.
Product Mix and Growth Drivers
Guaranteed non-par savings contributed 18% on an individual APE basis, while ULIP contributed 68%. The protection business contributed 9% of APE, amounting to INR 16.6 billion, with individual protection APE growing by 21%. Individual APE for participating products showed exceptional growth of 116%.
Distribution Channels
Bancassurance through SBI and RRBs contributed 62% of the total APE. On an individual APE basis, it stood at INR 112.3 billion, reflecting a 16% growth. Agency individual APE stood at INR 48.8 billion, growing 11%. Other channels grew by 33%, contributing 11% of total APE.
Key Ratios and Persistency
The company’s solvency ratio remained strong at 1.91. The OPEX ratio stood at 6.2%, and the Total Cost Ratio was 11.2%. 13th-month persistency improved to 87.1%. The Death Claim Settlement Ratio was at 99.3%.
Strategic Outlook
SBI Life remains focused on innovation, strengthening distribution channels, and delivering customer service. The company continues to focus on sustained growth and long-term value creation.
Source: BSE
