📈 Live Market Tracking
Every NSE and BSE corporate filing, read and explained by AI within minutes — impact, key figures, short/long-term view and what to watch.
Live · AI analyzer runs every 5 min (07:00–23:55 IST)
Latest filing: 2026-07-30 18:53
1 analysed today
FollowTelegram
1
Today
151,861
All-time analysed
43,535
Positive
6,743
Negative
92,746
Neutral
8,769
Watch
📊 Last 7 days — analysed filings by sentiment
Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
Verify against the original filing and consult a SEBI-registered adviser before acting.
21 announcements match the current filters (relevance ≥ 5).
22% PAT Growth and 29% VNB Growth in Q1 FY27; VNB Margin at 26.2%
SBI Life reported a strong Q1 FY27 with Profit After Tax (PAT) rising 22% YoY to Rs 7.2 billion. Value of New Business (VNB) grew 29% to Rs 14.1 billion, supported by a 23% increase in New Business Premium (NBP) which reached Rs 89.1 billion. The VNB margin stood at 26.2%, which includes a Rs 2.3 billion GST impact; excluding this, the margin would have been 27.4%. The company maintained its leadership with a 22.2% private market share in individual rated new business premium.
Confidence: HIGH
What changedThe release of the Q1 FY27 earnings transcript provides detailed management commentary on growth drivers, specifically the impact of GST on margins and the massive growth in group protection.
Why it mattersThe results demonstrate SBI Life's ability to maintain high growth and profitability despite a high base and tax headwinds, while leveraging its massive distribution network of 27,500+ SBI branches.
PAT Growth (YoY): 22%VNB Growth (YoY): 29%VNB Margin: 26.2%GST Impact on VNB: Rs 2.3 billionAssets Under Management (AUM): Rs 5.2 trillionSolvency Ratio: 1.96
📅 Short termThe stock is likely to react positively to the strong VNB growth and resilient margins despite the one-off GST impact.
📈 Long termStructural growth remains strong as the company targets increased penetration in rural areas and aims for protection to exceed 10% of APE, supported by its best-in-class opex ratio.
⚠ Risk flags
- High dependency on SBI for 54-57% of new business premiums
- Regulatory changes in surrender values could squeeze margins
- Potential shift in product mix toward lower-margin ULIPs
Key Highlights
Value of New Business (VNB) grew 29% YoY to Rs 14.1 billion in Q1 FY27
Profit After Tax (PAT) increased 22% YoY to Rs 7.2 billion
New Business Premium (NBP) reached Rs 89.1 billion, representing 23% YoY growth
Group protection APE saw a significant surge of 313% YoY to Rs 12.3 billion
Solvency ratio remains robust at 1.96, well above the regulatory requirement of 1.5
👀 What to Watch
Monitor the sustainability of the 26-28% VNB margin guidance as the product mix shifts toward protection and non-par savings. Watch for upcoming regulatory changes regarding surrender values which could impact industry-wide margins.
22% PAT growth to ₹7.2B in Q1 FY27; APE surges 36% with 26.2% VoNB margin
SBI Life reported a strong start to FY27 with Profit After Tax (PAT) rising 22% YoY to ₹7.2 billion. Annualized Premium Equivalent (APE) grew significantly by 36% to ₹53.8 billion, driven by a strategic shift toward Non-Par products which now constitute 49% of the APE mix. While growth was robust, Value of New Business (VoNB) margins compressed slightly to 26.2% from 27.4% a year ago, and the operating expense ratio increased to 7.7% from 6.3%. The company maintained its private market leadership with a 22.2% share in Individual Rated Premium.
Confidence: HIGH
What changedThe Q1 FY27 results show a significant acceleration in APE growth (36%) compared to the previous year, alongside a notable shift in product mix from ULIPs to Non-Par savings.
Why it mattersThe results demonstrate SBI Life's ability to maintain market leadership and drive high-volume growth, though the slight margin compression and rising costs are key metrics to track for long-term profitability.
Q1 PAT vs TTM PAT: ~29.1%APE Growth (YoY): 36%VoNB Margin: 26.2%Solvency Ratio: 1.96AUM: ₹5.2 trillionIndian Embedded Value: ₹852.9 billion
📅 Short termThe strong top-line (APE) and bottom-line (PAT) growth are likely to be viewed positively by the market in the coming weeks, despite the marginal dip in VoNB margins.
📈 Long termStructural growth remains healthy with 15% growth in Indian Embedded Value and improving persistency ratios, supporting the company's long-term value creation trajectory.
⚠ Risk flags
- Margin compression (down 120 bps YoY)
- Rising operating expense ratio (7.7% vs 6.3%)
- High dependency on SBI distribution channel
Key Highlights
Annualized Premium Equivalent (APE) grew 36% YoY to ₹53.8 billion
Profit After Tax (PAT) increased 22% YoY to ₹7.2 billion
Value of New Business (VoNB) rose 29% YoY to ₹14.1 billion
13th-month persistency improved by 61 bps to 87.7%
Assets Under Management (AUM) grew 10% YoY to reach ₹5.2 trillion
👀 What to Watch
Monitor the sustainability of the shift toward Non-Par products and whether the banca channel contribution (which fell to 47% of APE) stabilizes. Watch for management commentary on the rising operating expense ratio, which climbed to 7.7%.
SBI Life Q1 FY27: Net Profit Grows 22% YoY to ₹724.93 Cr; VNB at ₹1,410 Cr
SBI Life reported a strong start to FY27 with a 21.9% YoY increase in Net Profit to ₹724.93 Cr. Gross Premium Income grew by 16.9% YoY to ₹20,078.21 Cr, supported by robust renewal premiums. The company's Embedded Value (EV) reached ₹85,290 Cr, while the Value of New Business (VNB) for the quarter stood at ₹1,410 Cr. Solvency remains healthy at 1.96, significantly above the regulatory requirement of 1.50.
Confidence: HIGH
What changedThe filing represents the release of unaudited financial results for the first quarter of FY27, showing double-digit growth in both top-line premiums and bottom-line profits.
Why it mattersAs the private sector market leader, SBI Life's ability to maintain 20%+ profit growth and stable solvency (1.96) while growing its Embedded Value is a key indicator of the health of the Indian life insurance industry.
Net Profit (Q1 FY27): ₹724.93 CrGross Premium Income: ₹20,078.21 CrEmbedded Value: ₹85,290 CrSolvency Ratio: 1.96VNB vs TTM Revenue: ~1.25%
📅 Short termThe stock may see positive sentiment due to the 22% profit growth and stable persistency ratios, reflecting operational consistency.
📈 Long termSBI Life remains well-positioned to capture long-term insurance penetration in India leveraging its 27,500+ SBI branch network and best-in-class operating expense ratio (5.3%).
⚠ Risk flags
- High dependency on SBI for 54-57% of new business premiums
- Potential margin pressure from regulatory changes in surrender values
Key Highlights
Net Profit increased to ₹724.93 Cr in Q1 FY27 from ₹594.37 Cr in Q1 FY26
Gross Premium Income rose 16.9% YoY to ₹20,078.21 Cr
Embedded Value (EV) as of June 30, 2026, stood at ₹85,290 Cr
Value of New Business (VNB) for the quarter was reported at ₹1,410 Cr
13th-month persistency (premium basis) improved slightly to 84.35% from 84.24% YoY
👀 What to Watch
Investors should monitor the Value of New Business (VNB) margins and the company's progress in increasing the protection segment share to its 10% target, alongside any impact from revised surrender value regulations.
SBI Life Appoints Ramesh Venkateshamurthy as Deputy CEO Effective May 29, 2026
SBI Life Insurance has appointed Mr. Ramesh Venkateshamurthy as the new Deputy Chief Executive Officer, effective May 29, 2026. Mr. Venkateshamurthy transitions from State Bank of India (SBI), where he most recently served as General Manager (Yono Retail) & UPI since June 2023. His extensive background in digital banking and customer experience at SBI is expected to bolster SBI Life's digital transformation initiatives. The appointment follows a recommendation by the Board Nomination and Remuneration Committee.
Key Highlights
Mr. Ramesh Venkateshamurthy appointed as Deputy CEO effective May 29, 2026.
Served as General Manager (Yono Retail) & UPI at SBI, managing the bank's UPI portfolio since June 2023.
Previously held the position of Deputy General Manager - Customer Experience at SBI's Corporate Centre.
Brings significant experience in digital marketing and propagating digital banking products through various channels.
👀 What to Watch
Investors should monitor how the new Deputy CEO's digital expertise influences SBI Life's direct-to-customer digital sales and operational efficiency. No immediate portfolio changes are recommended based on this leadership update.
SBI Life FY26 Results: GWP Crosses INR 1 Trillion; Adjusted PAT Grows 29% YoY
SBI Life delivered a robust performance for FY26, with Gross Written Premium (GWP) crossing the INR 1,012.9 billion mark, a 19% YoY growth. While reported PAT grew 2% to INR 24.7 billion, adjusted for one-time GST and labor law impacts, PAT growth was a strong 29% at INR 31.2 billion. The Value of New Business (VoNB) reached INR 66.7 billion with a healthy margin of 27.5%, supported by a 122% surge in individual pure protection APE. The company maintains a dominant 22.9% private market share in individual rated new business.
Key Highlights
Gross Written Premium (GWP) surpassed INR 1,012.9 billion, registering a 19% YoY growth.
Value of New Business (VoNB) grew 12% to INR 66.7 billion with a margin of 27.5% (29% excluding GST impact).
Individual pure protection category saw exceptional growth of 122% on an APE basis.
Indian Embedded Value (IEV) increased by 15% YoY to reach INR 807.9 billion.
Assets Under Management (AUM) grew 9% to INR 4.9 trillion with a strong solvency ratio of 1.90.
👀 What to Watch
Investors should view the strong growth in high-margin protection and non-par segments as a positive indicator for long-term profitability. The company's ability to maintain industry-leading opex ratios and distribution efficiency through SBI's network makes it a preferred pick in the life insurance sector.
SBI Life FY26 Results: PAT at ₹24.7B, VoNB Margin 27.5%, AUM nears ₹4.9 Trillion
SBI Life Insurance reported a steady performance for FY26, with Profit After Tax (PAT) reaching ₹24.7 billion and Value of New Business (VoNB) at ₹66.7 billion. The company maintained a healthy VoNB margin of 27.5% and saw its Embedded Value grow to ₹807.9 billion, reflecting a 19.7% Operating ROEV. Assets Under Management (AUM) grew 9% year-on-year to ₹4,872 billion, supported by a strong solvency ratio of 1.90x. The distribution network remains a key strength, with over 27,000 bank branches and a 99.7% digital adoption rate for individual applications.
Key Highlights
New Business Premium (NBP) reached ₹425.5 billion, representing a 16% 5-year CAGR.
Value of New Business (VoNB) stood at ₹66.7 billion with a stable margin of 27.5%.
Embedded Value (EV) increased to ₹807.9 billion with an Operating ROEV of 19.7%.
Total Assets Under Management (AUM) reached ₹4,872 billion with 94% of debt investments in AAA and Sovereign bonds.
Solvency ratio remains robust at 1.90x, providing a significant cushion for future growth.
👀 What to Watch
Investors should note the company's consistent ability to maintain high VoNB margins and cost efficiencies despite regulatory shifts. The strong bancassurance channel and growing AUM make it a solid long-term play in the Indian life insurance sector.
SBI Life FY26 Results: PAT up 2% to ₹24.7B, IEV grows 15% to ₹807.9B
SBI Life reported a steady performance for FY26 with a 20% growth in New Business Premium reaching ₹425.5 billion. While Profit After Tax saw a modest 2% growth to ₹24.7 billion, the Indian Embedded Value (IEV) grew significantly by 15% to ₹807.9 billion. The Value of New Business (VoNB) increased by 12% to ₹66.7 billion, although the VoNB margin slightly compressed to 27.5% from 27.8%. The company maintained its private market leadership with a 22.9% share in Individual Rated Premium.
Key Highlights
New Business Premium grew 20% YoY to ₹425.5 billion, while Renewal Premium rose 19% to ₹587.3 billion.
Indian Embedded Value (IEV) reached ₹807.9 billion, marking a 15% year-on-year increase.
Value of New Business (VoNB) rose 12% to ₹66.7 billion, with a VoNB margin of 27.5%.
Persistency ratios improved with 13th-month persistency at 87.9% and 49th-month at 69.1%.
Assets Under Management (AUM) grew 9% to ₹4.87 trillion with a robust solvency ratio of 1.90.
👀 What to Watch
Investors should focus on the strong growth in IEV and VoNB, which are key long-term value drivers for life insurers. The slight increase in the total cost ratio to 10.6% and margin compression should be monitored, but the overall market leadership remains intact.
SBI Life FY26 Net Profit Rises to ₹2,470 Cr; Gross Premium Income Grows 19% YoY
SBI Life Insurance reported a steady financial performance for FY26, with net profit increasing to ₹2,470.30 crore from ₹2,413.30 crore in FY25. The company achieved robust top-line growth, with Gross Premium Income rising 18.9% YoY to ₹99,955.92 crore. While Q4 FY26 net profit saw a marginal decline to ₹804.64 crore compared to ₹813.51 crore in the year-ago period, operational metrics remained healthy. The 13th-month persistency ratio improved to 87.94%, and the solvency ratio remains strong at 1.90.
Key Highlights
Full-year FY26 Net Profit grew to ₹2,470.30 crore, up from ₹2,413.30 crore in FY25.
Gross Premium Income for FY26 increased significantly by 18.9% to ₹99,955.92 crore.
13th-month persistency ratio on a premium basis improved to 87.94% from 87.41% YoY.
Solvency ratio stood at 1.90 as of March 31, 2026, well above the regulatory requirement of 1.50.
Annual Earnings Per Share (EPS) increased to ₹24.64 from ₹24.09 in the previous fiscal year.
👀 What to Watch
Investors should take confidence in the strong premium growth and improving persistency ratios, which signal healthy market positioning. The stock remains a core portfolio holding for long-term exposure to the Indian life insurance sector.
SBI Life Shareholders Approve Material Related Party Transactions with Over 97% Majority
SBI Life Insurance has successfully obtained shareholder approval for material related party transactions (RPTs) with its parent, State Bank of India, and other group entities including SBI DFHI and SBI Capital Markets. All four ordinary resolutions were passed with a significant majority, exceeding 97% of the votes cast in each case. The voting, conducted via postal ballot ending March 30, 2026, also included approval for transactions with Yes Bank Limited. This ensures operational continuity and maintains the strategic business relationship within the SBI ecosystem.
Key Highlights
Approval for Material Related Party Transactions with State Bank of India passed with 97.81% votes in favor.
Transactions with SBI DFHI Limited and SBI Capital Markets Limited both received 97.84% approval from voting members.
The resolution for transactions with Yes Bank Limited was approved with 97.84% of the total 369.67 million votes polled.
Remote e-voting saw participation from institutional and non-institutional investors, with promoters being interested parties in the resolutions.
👀 What to Watch
No immediate action is required as these approvals are standard for maintaining business synergies with the parent bank. Investors should continue to monitor the volume of these transactions in annual disclosures to ensure they remain at arm's length.
SBI Life Receives ₹537.75 Crore Income Tax Demand for FY 2023-24
SBI Life Insurance has received an Income Tax Assessment Order for FY 2023-24 with a total demand of ₹537.75 crore. The demand includes a tax component of ₹441.24 crore and interest of ₹96.51 crore, primarily due to disallowed exemptions and the application of an incorrect tax rate. The company contends that the tax authority erroneously applied a 30% corporate tax rate instead of the applicable rate under section 115B. SBI Life intends to contest this order through an appeal and expects no material impact on its financial operations.
Key Highlights
Total tax demand of ₹537.75 crore received for the assessment of FY 2023-2024.
The demand consists of ₹441.24 crore in tax and ₹96.51 crore in interest, with no penalty imposed.
Key disputes include disallowed exemptions under sections 10(15) and 10(23AAB) and incorrect tax rate application.
Company will file an appeal before the Appellate Authority to contest the assessment order.
👀 What to Watch
Investors should monitor the outcome of the appeal process as tax litigations are common in the insurance sector but can involve significant sums. No immediate impact on earnings is expected as the company is contesting the demand.
SBI Life Tax Demand Reduced by ₹4,846 Crore to ₹470.88 Crore Following Rectification
SBI Life Insurance has received a significant rectification order from the Income Tax Department for FY 2021-22, correcting a previously erroneous demand. The total tax and interest demand has been slashed from ₹5,317.18 crore to ₹470.88 crore after the company filed a rectification application highlighting calculation errors. This reduction of over 90% in the potential liability provides substantial financial relief. The company is continuing its appeal against the remaining demand before the Commissioner (Appeals).
Key Highlights
Total tax demand for FY 2021-22 reduced from ₹5,317.18 crore to ₹470.88 crore
Tax component specifically decreased from ₹4,286.63 crore to ₹315.84 crore
Interest component slashed from ₹1,030.55 crore to ₹155.04 crore
Rectification order issued under Section 154 of the Income Tax Act, 1961
Company maintains its appeal against the revised demand at the Commissioner Appeals level
👀 What to Watch
This massive reduction in tax demand removes a significant financial overhang and is a major positive for the stock. Investors should continue to monitor the final resolution of the remaining ₹470.88 crore appeal.
SBI Life Seeks Approval for ₹70,900 Cr+ Related Party Transactions for FY 2026-27
SBI Life Insurance has issued a postal ballot notice seeking shareholder approval for material related party transactions (RPTs) for the upcoming financial year 2026-27. The company proposes transactions with State Bank of India (SBI) totaling ₹40,900 crore and with SBI DFHI Limited totaling ₹30,000 crore. These transactions primarily involve investment purchases and sales, premium income, and commission expenses conducted at arm's length. Shareholders can cast their votes via e-voting from March 1 to March 30, 2026.
Key Highlights
Proposed RPT with State Bank of India (SBI) capped at ₹40,900 crore for FY 2026-27.
Proposed RPT with SBI DFHI Limited capped at ₹30,000 crore for investment-related activities.
SBI transactions include ₹15,000 crore for investment purchases and ₹4,400 crore for commission expenses.
Premium income from SBI-related business is estimated at ₹6,000 crore for the fiscal year.
E-voting period is scheduled from March 1, 2026, to March 30, 2026, with results by April 2, 2026.
👀 What to Watch
This is a routine regulatory requirement for listed companies to approve transactions with parent and group entities. Investors should note the scale of synergy with SBI, which remains a key driver for the company's distribution and investment strategy.
SBI Life Declares Interim Dividend of ₹2.70 Per Share for FY 2025-26
SBI Life Insurance has declared an interim dividend of ₹2.70 per equity share for the financial year 2025-26, which represents 27% of the face value. The company has established March 06, 2026, as the record date for determining shareholder eligibility, with the payout scheduled to be completed by March 27, 2026. Furthermore, the board is seeking shareholder approval via postal ballot for material related party transactions with State Bank of India and other group entities for the upcoming fiscal year 2026-27. This announcement underscores the company's consistent dividend policy and proactive regulatory planning for its bancassurance operations.
Key Highlights
Interim dividend of ₹2.70 per equity share declared for FY 2025-26
Record date for dividend entitlement is fixed as March 06, 2026
Dividend payment to be processed on or before March 27, 2026
Shareholder approval sought for material related party transactions with SBI and affiliates for FY 2026-27
Postal ballot e-voting period scheduled from March 01 to March 30, 2026
👀 What to Watch
Investors interested in the dividend should ensure they hold the stock before the record date of March 06, 2026. The related party transactions are standard for SBI Life's business model and are unlikely to impact the stock's fundamental valuation.
SBI Life Declares Interim Dividend of ₹2.70 per Share for FY 2025-26
SBI Life Insurance Company has declared an interim dividend of ₹2.70 per equity share for the financial year 2025-26, representing a 27% payout on the face value of ₹10. The company has fixed March 06, 2026, as the record date for determining shareholder eligibility, with the payment scheduled to be completed by March 27, 2026. Furthermore, the board has initiated a postal ballot to seek approval for material related party transactions for FY 2026-27. These transactions involve major entities including State Bank of India and Yes Bank, which are critical to the company's bancassurance distribution model.
Key Highlights
Interim dividend of ₹2.70 per equity share (27% of face value) declared for FY 2025-26
Record date for dividend eligibility set for March 06, 2026
Dividend payout to shareholders to be completed on or before March 27, 2026
Shareholder approval sought for Material Related Party Transactions with SBI and Yes Bank for FY 2026-27
Postal ballot e-voting period scheduled from March 01 to March 30, 2026
👀 What to Watch
Investors looking to benefit from the dividend should ensure they hold the stock before the ex-dividend date associated with the March 06 record date. The related party transaction approvals are routine for the company's business model and should be viewed as standard regulatory compliance.
SBI Life to Consider Interim Dividend on Feb 25; Record Date Set for March 06, 2026
SBI Life Insurance Company has scheduled a board meeting on February 25, 2026, to deliberate on the declaration of an interim dividend for the financial year 2025-26. The company has proactively fixed March 06, 2026, as the record date to identify eligible shareholders for the potential payout. In compliance with insider trading regulations, the trading window for designated persons is closed from February 21 to February 27, 2026. This move indicates the company's intent to distribute surplus cash to its shareholders.
Key Highlights
Board meeting scheduled for February 25, 2026, to consider interim dividend for FY 2025-26
Record date for dividend eligibility fixed as March 06, 2026
Trading window for insiders closed from February 21 to February 27, 2026
The dividend amount will be determined during the upcoming board meeting
👀 What to Watch
Investors should watch for the dividend amount announcement on February 25 and ensure they hold shares before the ex-dividend date to qualify for the payout.
SBI Life Board to Consider Interim Dividend on Feb 25; Record Date Set for March 06
SBI Life Insurance Company Limited has scheduled a Board of Directors meeting on February 25, 2026, to consider and declare an interim dividend for the financial year 2025-26. The company has fixed March 06, 2026, as the record date for determining shareholder eligibility for the payout. In line with SEBI regulations, the trading window for designated persons is closed from February 21 to February 27, 2026. This announcement indicates a potential cash return to shareholders, pending board approval.
Key Highlights
Board meeting scheduled for February 25, 2026, to consider interim dividend for FY 2025-26.
Record date for determining dividend eligibility is fixed as March 06, 2026.
Trading window for insiders closed from February 21, 2026, to February 27, 2026.
The dividend declaration is subject to approval by the Board of Directors during the upcoming meeting.
👀 What to Watch
Investors should watch for the dividend amount announcement on February 25 and ensure they hold the stock before the March 06 record date to be eligible for the payout.
SBI Life Receives Partial Relief in GST Case; Demand Reduced to ₹159.45 Crore
SBI Life Insurance has received an updated order from the GST appellate authority for FY 2018-19, providing partial relief. The total demand, which was previously ₹288.67 crore, has been reduced to ₹159.45 crore. This revised amount includes ₹63.36 crore in tax, ₹89.75 crore in interest, and ₹6.34 crore in penalty. The company has stated it will continue to contest the remaining demand by filing an appeal with the Appellate Tribunal.
Key Highlights
Total tax demand for FY 2018-19 reduced by approximately 45% to ₹159.45 crore
The original demand of ₹288.67 crore was first disclosed in April 2024
Key issues cited include ITC mismatches and non-reversal of credit on security transactions
SBI Life intends to file a further appeal against the partial demand upheld by the authority
👀 What to Watch
Monitor the progress of the appeal in the Appellate Tribunal; while the reduction is positive, the remaining liability is still noteworthy.
SBI Life Q3 FY26: AUM Crosses ₹5 Trillion, VNB Grows 17% to ₹50.4 Billion
SBI Life reported a strong performance for Q3 FY26, with Assets Under Management (AUM) crossing the significant ₹5 trillion milestone. The Value of New Business (VNB) grew 17% YoY to ₹50.4 billion, while VNB margins improved to 27.2% despite regulatory headwinds. Although reported Profit After Tax (PAT) grew by only 4% to ₹16.7 billion due to GST and labor law impacts, the adjusted profit growth stood at a robust 34%. The company continues to lead the private market with a 23.5% share in New Business Premium.
Key Highlights
Assets Under Management (AUM) grew 16% YoY to reach ₹5.1 trillion.
Value of New Business (VNB) increased by 17% to ₹50.4 billion with a margin of 27.2%.
Individual Rated Premium (IRP) grew 15% to ₹166.8 billion, maintaining a 25.6% private market share.
Indian Embedded Value (IEV) stood at ₹801.3 billion, representing an 18% YoY growth.
Solvency ratio remains strong at 1.91, significantly above the regulatory requirement of 1.50.
👀 What to Watch
Investors should take confidence in the company's ability to maintain margins and market leadership despite regulatory changes. The strong growth in Embedded Value and AUM suggests long-term value creation potential.
SBI Life 9M FY26 Results: VoNB Up 17% to ₹50.4 Billion, APE Grows 16%
SBI Life reported a steady performance for 9M FY26, with Annualized Premium Equivalent (APE) growing 16% YoY to ₹185.2 billion. The Value of New Business (VoNB) increased by 17% to ₹50.4 billion, supported by a slight expansion in margins to 27.2%. While Profit After Tax (PAT) saw a modest 4% growth to ₹16.7 billion, the Indian Embedded Value (IEV) rose significantly by 18% to ₹801.3 billion. The company maintained its private market leadership with a 25.6% share in Individual Rated Premium.
Key Highlights
Value of New Business (VoNB) grew 17% YoY to ₹50.4 billion with margins improving to 27.2%
Annualized Premium Equivalent (APE) reached ₹185.2 billion, marking a 16% YoY growth
Assets Under Management (AUM) crossed the ₹5.1 trillion mark, up 16% YoY
13th-month persistency improved by 101 bps to 87.1%, indicating better customer retention
Indian Embedded Value (IEV) stands at ₹801.3 billion, reflecting 18% YoY growth
👀 What to Watch
Investors should focus on the strong growth in VoNB and IEV, which are key long-term value drivers for life insurers. While the cost ratio increased slightly to 11.2%, the company's market leadership and margin stability remain positive indicators.
SBI Life Q3 FY26 PAT Rises 4.7% YoY to ₹577 Cr; Gross Premium Up 22%
SBI Life reported a steady performance for Q3 FY26, with Gross Premium Income growing 21.8% year-on-year to ₹30,245 crore. Net profit saw a modest increase of 4.7%, reaching ₹577 crore compared to ₹551 crore in the same quarter last year. The company maintained a healthy solvency ratio of 1.91, well above the regulatory threshold of 1.50. While operating expenses increased, the 13th-month persistency ratio improved to 83.99%, indicating better customer retention.
Key Highlights
Gross Premium Income grew by 21.8% YoY to ₹30,245 crore in Q3 FY26.
Net Profit (PAT) increased by 4.7% YoY to ₹577 crore for the quarter.
Solvency ratio remains robust at 1.91, though down from 2.04 a year ago.
13th-month persistency ratio improved to 83.99% from 82.67% YoY.
Operating expense ratio increased to 11.56% compared to 9.67% in the previous year's quarter.
👀 What to Watch
Investors should focus on the strong top-line growth and improving persistency, which are positive long-term indicators. The stock remains a solid play in the insurance sector, though rising expense ratios warrant monitoring.
