Life Insurance company which is in life insurance business and annuity. The company was started as a JV between State Bank of India and BNP Paribas which jumped 1.60 percent in the intraday trading after releasing its Q2FY25 results.
Stock Movements
SBI Life Insurance has a market capitalization of Rs. 1,71,329 Crores. Its shares were trading at Rs. 1,710, and it was up 1.60 percent by the day’s end trade price and had a previous close price of Rs. 1,699.05.
Q2 Results Overview
SBI Life grew its consolidated net profit by 39% to Rs 529 crore, up from Rs 380 crore in Q2FY24. Net premium income saw a 1% increase reaching Rs 20,266 crore.
The company’s first-year premium income grew by 6% to Rs 4,915 crore in Q2FY24. Investment income showed growth by jumping 132% to Rs 19,753 crore.
The first half of FY25 saw individual new business premiums rise by 13% to Rs 11,490 crore. Protection new business premium reached Rs 1,720 crore during this period. Gross written premium increased by 7% to Rs 35,990 crore, driven by 11% growth in new business regular premium and 16% growth in renewal premium.
The company achieved a 2% increase in Value of New Business, reaching Rs 2,420 crore, with margins at 26.8%. Persistency rates improved significantly, with 25th-month and 61st-month persistency growing by 116 and 438 basis points respectively.
Assets under management grew impressively by 27%, reaching Rs 4.38 lakh crore from Rs 3.45 lakh crore year-over-year.
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About the Company & segment
SBI Life maintains a robust distribution network across India. The company operates through 1,082 offices nationwide and employs 3,33,080 trained insurance professionals, including agents, CIFs, and SPs.
The company’s distribution channels structure in H1 FY25 – the Bancassurance channel leads with 59% share, the Agency channel contributes 31%, and Other channels make up 10%. The agency channel showed strong growth, increasing individual NBP by 39% to Rs 3,310 crore. Other channels like individual NBP rose 28% to Rs 1,560 crore.
Business Products
SBI Life’s products include a range of insurance solutions which includes Term insurance, Health insurance, Critical illness coverage, Traditional savings products, Unit-linked insurance plans, Retirement solutions, and others.
The company focuses on maintaining product quality and customer retention, which is reflected in its improved persistency rates.
Written by Santhosh
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