'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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