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Informist, Thursday, Apr. 24, 2025

 

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--SBI Life Jan-Mar net profit INR 8.14 bln
--SBI Life Jan-Mar net profit INR 8.14 bln vs INR 8.11 bln year ago
--SBI Life Jan-Mar net premium income INR 238.61 bln vs INR 251.16 bln yr ago
--SBI Life FY25 net profit INR 24.13 bln vs INR 18.94 bln year ago
--SBI Life FY25 net premium income INR 840.60 bln vs INR 805.87 bln yr ago
--SBI Life: Solvency ratio 1.96 times as on Mar 31
--SBI Life 13th month persistency 86.64% as on Mar 31
--SBI Life: New business premium INR 355.8 bln FY25, down 7% on year
--SBI Life: Renewal premium INR 494.1 bln FY25, up 14% YoY
--SBI Life's gross written premium INR 849.8 bln FY25, up 4% YoY
--SBI Life: AUM INR 4.48 tln as on Mar 31, up 15% on year
--SBI Life: Value of new business INR 59.5 bln FY25, up 7% on year
--SBI Life FY25 value of new business margin at 27.8% vs 28.1% year ago

 

NEW DELHI – SBI Life Insurance Co. Ltd.'s net profit for the quarter ended March was little changed from a year ago, with both total income and expenditure down more than a third and net premium income down 5%.

 

The insurer's bottomline for Jan-Mar stood at INR 8.14 billion, up a mere 0.3% from the same period last year, as net premium income fell 5% to INR 238.61 billion on the back of a 42% drop in single premium to INR 44.63 billion. Keeping the fall in net premium in check was a 13% rise in renewal premium to INR 146.80 billion, while first-year premium rose 7% to INR 48.59 billion.

 

Shares of SBI Life ended 0.5% lower on Thursday at INR 1,608.20 on the National Stock Exchange. The company announced its earnings just minutes before end of the trade. Motilal Oswal Financial Services had expected the quarterly net profit to come in at INR 8.6 billion, and net premium income was seen rising 2% quarter-on-quarter to INR 253.40 billion.

 

Further on the income side, SBI Life's net income from investments in Jan-Mar was a negative INR 10.41 billion as against a positive income of INR 108.12 billion a year ago. On the whole, total income was down 36% year-on-year in the reporting quarter at INR 241.69 billion. Meanwhile, total expenditure fell 37% to INR 226.06 billion, with change in actuarial liability 60% lower at INR 77.06 billion.

 

 

 

As on Mar. 31, SBI Life's solvency ratio was 1.96. In terms of persistency, the 13th- and the 61st-month ratios rose to 86.64% and 61.51%, respectively, on a premium basis. A year ago, they stood at 85.76% and 57.81%.

 

For 2024-25 (Apr-Mar), the insurer's net profit rose 27% to INR 24.13 billion, with gross written premium up 4% at INR 849.8 billion and net premium income also up 4% at INR 840.60 billion. While new business premium fell 7% in FY25 to INR 355.8 billion, renewal premium was 14% higher at INR 494.1 billion. Value of new business rose 7% to INR 59.5 billion in the year gone by, with value of new business margin at 27.8%, marginally down from 28.1% in FY24. Assets under management stood at INR 4.48 trillion as on Mar. 31, up 15% on year.  End

 

Reported by Siddharth Upasani

Edited by Akul Nishant Akhoury

 

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