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SBI Life Insurance net profit jumps 26% YoY in March quarter

Net premium income rose 12 percent year on year to Rs 17,433.77 crore compared with Rs 15,555.74 crore in the same quarter last year.

April 28, 2022 / 04:43 PM IST
 
 
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SBI Life Insurance Co Ltd on April 28 reported a 26 percent rise in net profit at Rs 672.15 crore for the fourth quarter ended March.

The private sector insurer's profit stood at Rs 532.38 crore in the same quarter of the previous fiscal, according to a regulatory filing.

However, total income rose marginally by 2.5 percent to Rs 21,427.88 crore in the quarter under review from Rs 20,896.70 crore in January-March 2021 period.

Net premium income rose 12 percent year on year to Rs 17,433.77 crore compared with Rs 15,555.74 crore in the same quarter last year.

The company's solvency ratio stood at 205 percent as on March 31, 2022 as against the regulatory requirement of 150 per cent.

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SBI Life has achieved private market leadership in Individual Rated Premium of Rs 128.7 billion with 23.4 percent private market share in FY22.

Assets under management rose to Rs 2.67 lakh crore at the end of March 2022 compared to Rs 2.21 lakh crore in the year-ago period.



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Moneycontrol News
first published: Apr 28, 2022 04:05 pm
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