SBI Life Q1 PAT rises 22% YoY to Rs 725 cr
The company?s gross written premium (GWP) increased 20% to Rs 21,290 crore, driven by a 23% growth in new business premium and 17% rise in renewal premium.
Individual new business premium grew 14% YoY to Rs 5,610 crore, while Annualised Premium Equivalent (APE) increased 36% to Rs 5,380 crore during the quarter.
Value of New Business (VoNB) improved 29% YoY to Rs 1,410 crore, while the new business margin stood at 26.2% compared with 27.4% a year ago.
SBI Life?s Indian Embedded Value (IEV) increased 15% to Rs 85,290 crore.
Assets Under Management (AuM) rose 10% YoY to Rs 5,24,850 crore, while net worth increased 13% to Rs 20,110 crore as of 30 June 2026.
The insurer maintained a strong solvency ratio of 1.96 as of 30 June 2026, well above the regulatory requirement of 1.50. The company retained its leadership position in individual rated premium with Rs 3,970 crore and held a 22.2% private market share in Q1 FY27.
SBI Life continued to strengthen its distribution network, with 371,935 trained insurance professionals and 1,241 offices across the country. The company?s APE channel mix comprised bancassurance at 47%, agency at 25% and other channels at 28%.
Individual new business premium through the agency channel increased 17% YoY to Rs 1,550 crore, while other channels recorded a 25% rise to Rs 1,030 crore in Q1 FY27.
The company also reported improvement in persistency ratios, with 13th-month and 49th-month persistency increasing by 61 basis points and 68 basis points, respectively, supported by better business quality and customer retention.
Amit Jhingran, MD & CEO of SBI Life, stated, SBI Life continued its growth trajectory from FY 2026 into the first quarter of FY 2027, delivering a 14% increase in Individual Rated Premium, supported by a favourable shift in product mix. All product segments recorded growth on an Individual Rated Premium basis, and all key distribution channels achieved double-digit expansion. The increasing contribution from protection solutions and guaranteed non-par savings products reflects evolving customer preferences and our strategic focus.
Renewal premium growth, along with improvements in the 13th- and 49th-month persistency ratios, underscores the strengthening of our customer relationships and the overall quality of our business.
With its strong brand, diversified distribution network, superior service standards, and technology-led capabilities, the Company remains well-positioned to meet increasing demand across protection, savings, and retirement solutions. Our ability to consistently generate profitable new business over the years continues to support sustainable value creation for our shareholders.?
SBI Life's diverse range of products caters to individuals as well as group customers through protection, pension, savings and health solutions.
Shares of SBI Life Insurance Company closed 0.26% higher at Rs 1,857.65 on the BSE.
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