SBI Life Q4 PAT at Rs 813 cr, net premium income falls 5%

SBI Life Insurance on Thursday posted a marginal 0.3% year-on-year (YoY) rise in consolidated net profit for the March quarter, coming in at Rs 813.5 crore compared to Rs 810.8 crore in the same period last year.

Net premium income declined 5% YoY to Rs 23,861 crore in Q4FY25, down from Rs 25,116 crore in the corresponding quarter of the previous financial year.

The company reported a 7.3% YoY growth in first-year premium for Q4FY25, at Rs 4,858.7 crore, compared to Rs 4,528.3 crore in the same quarter last year.

Renewal premium rose 12.9% YoY to Rs 14,680.3 crore, up from Rs 13,003.2 crore. However, single premium declined 42.1% YoY to Rs 4,462.5 crore, from Rs 7,709.5 crore.

Net commission increased 17.2% to Rs 998 crore, compared to Rs 851 crore in the year-ago period.

The 13th-month persistency ratio improved to 86.64%, up from 85.76% last year, while the 61st-month persistency ratio rose to 61.51% from 57.81% YoY.

Business Growth and Market Share

• The company retained its leadership in Individual Rated Premium, reporting Rs 19,350 crore with a 22.8% share of the private market in FY25.
• Individual New Business Premium grew by 11% year-on-year to Rs 26,360 crore in FY25.
• Protection New Business Premium stood at Rs 4,100 crore for the year.
• Gross Written Premium (GWP) rose 4% to Rs 84,980 crore in FY25, driven mainly by an 11% increase in New Business Regular Premium and a 14% rise in Renewal Premium.

Assets Under Management

• SBI Life’s Assets under Management (AUM) rose 15% to Rs 4.48 lakh crore as of 31 March 2025, from Rs 3.89 lakh crore a year ago.

• The debt-equity mix stood at 61:39, with 94% of debt investments in AAA-rated and sovereign instruments.

Financial Position

• The company’s net worth increased by 14% to Rs 16,980 crore as of 31 March 2025, up from Rs 14,910 crore a year earlier.

• SBI Life maintained a strong solvency ratio of 1.96, well above the regulatory requirement of 1.50, reflecting a solid financial foundation.

Amit Jhingran, MD & CEO of SBI Life stated, "FY25 was an exceptional year on every front. Standing at the intersection of regulatory changes, evolving customer needs and digital acceleration, we responded with resilience and conviction. Our team exhibited exceptional agility in adapting to customer needs, innovated boldly to reshape experiences and scaled efficiently to make the benefit of life insurance available to every Indian."

"I am delighted to share that with a 12% growth in Individual Rated Premium, SBI Life outperformed industry growth of 10.5%. This speaks volumes about the strength and dedication of our teamwork, the trust that customers place in us and the excellence with which we execute our strategy," Jhingran added.