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Informist, Wednesday, Jan. 28, 2026

 

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--SBI Life: Seeing good traction in business growth Jan-Mar 
--CONTEXT: Comments by SBI Life management in post-earnings analyst call 
--SBI Life: Commission income may improve going forward if pdt mix changes 
--SBI Life: Will meet FY26 AUM growth guidance of 13-14% with positive bias 
--SBI Life: Working on new pdts, may launch in Jan-Mar or early FY27

 

By Priyasmita Dutta and Shruti Nair

 

NEW DELHI – SBI Life Insurance Co. Ltd. is confident of meeting the asset under management growth guidance of 13-14% for 2025-26 (Apr-Mar) with "positive bias", the insurer's management said in a post-earnings call with analysts Wednesday. "As far as full year growth is concerned, we had given a guidance and there is no point in revising that guidance at the end of 10th month. So I'm sure that you will be seeing that we meet our guidance with a positive bias," the management said.

 

Assets under management of the insurer rose 16% on year to INR 5.1 trillion as of Dec. 31, with a debt-equity mix of 59:41. "There is good traction being seen in the last quarter (Oct-Dec) as a company and as a player in the industry, and we hope that this trend noticed in the last quarter (Oct-Dec) will continue for this quarter (Jan-Mar) and in the coming year (FY27)," the management said. 

 

The country's largest private-sector life insurer posted a net profit of INR 5.77 billion, up nearly 17% on quarter and 5% on year. The firm's net premium income rose nearly 22%, both on quarter and on year, to INR 302.45 billion in the reporting quarter. Shares of the company closed at INR 2,053.20 on the National Stock Exchange, up 0.7%.

 

During the December quarter, the company reported new business premiums of INR 129.8 billion, up over 23% on year, as per calculations. Gross written premium grew nearly 22% to INR 304.5 billion in Oct-Dec. Value of new business improved nearly 22% on year to INR 22.8 billion in Oct-Dec, calculations showed. New business margin improved to 27.2% during Apr-Dec from 26.9% year ago. 

 

According to the insurer's management, the impact of goods and service tax changes on its margin was offset by changes in its product mix. For the full year, the effect of changes in GST on margins will be 110 basis points, including 30-40 bps impact in Jan-Mar. The insurer retained guidance for margins at 26-28% for the current financial year.

 

Going forward, the impact of GST changes will be 150 bps on an annualised basis, the management added. "And we are saying that the impact that we are going to get on the new business on account of GST will get offset mostly by better product mix." 

 

Amit Jhingran, managing director and chief executive officer of SBI Life, said the company's product mix during Apr-Dec reflected evolving customer preferences, with contributions from unit-linked insurance plans, participating and non-participating savings products. "The protection segment recorded strong year-on-year growth in premium and sum assured during the period," he said.

 

The insurer's management also said that with changes in the company's product mix, commission may improve going forward. The insurer is also planning to launch new products as early as the ongoing quarter, and if not, then early FY27.  End

 

Edited by Akul Nishant Akhoury

 

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