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SBI Life Sees Profit Climb Amidst Rising Premiums
28 Jan
Summary
- SBI Life's Q3 FY26 net profit increased by 4.70% to Rs 576.74 crore.
- Net premium income surged by 21.82% to Rs 30,245.32 crore in Q3 FY26.
- Assets under management grew 16% YoY to Rs 5,11,710 crore in 9M FY26.
SBI Life Insurance Company announced a 4.70% increase in its standalone net profit for the third quarter of fiscal year 2026, reaching Rs 576.74 crore compared to Rs 550.82 crore in the previous year. The company's net premium income saw a substantial rise of 21.82%, amounting to Rs 30,245.32 crore in Q3 FY26.
For the nine-month period of FY26, SBI Life's standalone net profit grew by 4.11% year-on-year to Rs 1,665.66 crore, with net premium income increasing by 24.14% to Rs 14,578.16 crore. Gross Written Premium (GWP) for 9M FY26 stood at Rs 73,350 crore, a 20.28% increase from the prior year.
The Value of New Business (VoNB) improved by 17% to Rs 5,040 crore in 9M FY26, and the New Business Margin expanded to 27.2%. Assets under Management (AuM) rose by 16% year-on-year to Rs 5,11,710 crore, while the company maintained its leadership in Individual Rated Premium with a 25.6% private market share.
MD & CEO Amit Jhingran noted improved industry momentum due to regulatory measures and a shift towards higher sum assured products. He highlighted SBI Life's accelerated growth in Q3, driven by increased individual policy sales and a strong performance in the protection segment. The company remains focused on balancing growth and profitability while strengthening its product portfolio and distribution.
