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    HomeNewsBusinessStocksBuy SBI Life Insurance Company; target of Rs 1644: Religare Retail Research

    Buy SBI Life Insurance Company; target of Rs 1644: Religare Retail Research

    Religare Retail Research is bullish on SBI Life Insurance Company has recommended buy rating on the stock with a target price of Rs 1644 in its research report dated July 26 2023.

    Broker Research
    July 27, 2023 / 17:55 IST
    buy
       
       
      26 Aug, 2025 12:21
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      Religare Retail Research report on SBI Life Insurance Company

      SBI Life’s Q1FY24 gross premium income (GWP) increased by 19% YoY to Rs 135.6bn driven by renewal premium (RP) growth of 28% YoY and new business premium (NBP) growth of 11% YoY despite strong previous year growth. Annualized premium equivalent (APE) growth was moderate at 4% YoY as individual rated premium (IRP) remained muted with growth of 3% YoY.

      Outlook

      We estimate APE/NBP/VNB to grow at a CAGR of 19%/21%/23% over FY23-25E. We maintain Buy rating and revise our target price upwards to Rs 1,644 valuing the company at 2.6x of its FY25E embedded value.

      For all recommendations report, click here

      Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

      SBI Life Insurance Company - 26 -07 - 2023 - reli
      Broker Research
      first published: Jul 27, 2023 05:55 pm

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