SBI Life Insurance reported a 22.1% year-on-year increase in net profit for the quarter ended June 2026, as per exchange filings dated July 24, 2026..
Profit stood at ₹725 crore, compared with ₹594 crore in the corresponding period last year. Profit before tax also increased to ₹750 crore from ₹610 crore a year earlier.
Net premium income rose 17% year-on-year to ₹20,078 crore during the quarter. Gross written premium increased 20% to ₹21,290 crore from ₹17,810 crore. New business premium grew 22.6% to ₹8,910 crore, while renewal premium rose 17% to ₹12,380 crore.
First-year premium collections were up 40% from the year-ago period, indicating higher issuance of new policies.
Annualised Premium Equivalent (APE), a key measure of new business, increased 35.5% to ₹5,380 crore from ₹3,970 crore.
Value of New Business (VNB) rose 29.4% to ₹1,410 crore from ₹1,090 crore. However, the VNB margin declined to 26.2% from 27.4%, a fall of 120 basis points compared with the same quarter last year.
SBI Life retained its leadership among private life insurers in individual new business premium and individual rated premium, with market shares of 24.9% and 22.2%, respectively.
Assets under management increased 10% year-on-year to ₹5.25 lakh crore. Embedded value rose 15% to ₹85,290 crore, while net worth grew 13% to ₹20,110 crore.
The solvency ratio improved to 1.96 from 1.90 in the previous quarter, remaining above the regulatory requirement of 1.50. The 13th-month persistency ratio improved to 87.7% from 87.1%. The 25th, 37th and 49th-month persistency ratios also recorded gains.
However, the 61st-month persistency ratio declined to 58.4% from 63.6% a year earlier.
Bancassurance contributed 47% of APE during the quarter, followed by the agency channel at 25%. Other distribution channels accounted for the remaining 28%.
The operating expense ratio increased to 7.7% from 6.3% a year ago. The commission ratio remained unchanged at 4.4%, while the total cost ratio rose to 12% from 10.8%.
As of July 24, 2026, 3:30 pm, SBI Life Insurance Company Ltd share price closed at ₹1,851.30, down 0.12% from the previous closing price.
The June quarter saw growth across SBI Life's key operating metrics, including profit, premium income and APE. Capital adequacy remained above regulatory norms, while some persistency and margin indicators softened.
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Published on: Jul 24, 2026, 5:31 PM IST
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