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25-Jul-2024

SBI Life Insurance Company

Continues healthy growth

'SBI Life Insurance Company has recorded strong 36% increase in net profit to Rs 519.52 crore in the quarter ended June 2024 (Q1FY2025). The total premium income has increased 15% to Rs 15,570 crore in Q1FY2025, driven by 16% jump in the renewal premium collection to Rs 8,540 crore. The new business premium increased 13% to Rs 7,030 crore. APE moved up 20% to Rs 3,640 crore.

The company has exhibited an improvement in the persistency level with 13th month persistency rising to 75% in Q1FY2025 from 74% in Q1FY2024, while 61st month persistency also rose to 51% from 49% due to focus on improving the quality of business and customer retention.

The value of new business (VNB) galloped 12% to Rs 970 crore in Q1FY2025.

New business margin for Q1FY2025 stood at 26.80% showing decline over a year ago from 28.80% in Q1FY2024.

The embedded value surged 26% Rs 59749.52 crore end June 2024.

AUM of the ...



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