SBI Life's new business premium rises 21% to Rs 20,259 crore; profit up 17%

SBI Life Insurance, counted among the country's leading life insurers, has recorded a new business premium of Rs 20,259 crore for the period ended September 30, 2026. In the same period last year it was Rs 18,349 crore, a rise of 21% over the period ended September 30, 2025.

The company's new business protection premium stood at Rs 3,235 crore for the period, up 46%. Individual new business protection premium rose 20% to Rs 446 crore. Individual new business premium rose 13% to Rs 13,732 crore.

Profit after tax (PAT) rose 17% to Rs 1,274 crore for the period. The regulator requires a solvency ratio of 1.50, while the company's solvency ratio remained strong at 1.97 on September 30, 2026.

The company's assets under management (AUM) grew 9% from Rs 4,81,465 crore to Rs 5,27,120 crore. The debt and equity mix is 60:40. Some 94% of debt investments are in AAA and sovereign instruments.

The company has a diversified distribution network of 3,94,574 trained insurance professionals and 1,244 offices across the country. The network includes the bancassurance channel, the agency channel, corporate agents, brokers, point of sale persons (POS), insurance marketing firms, web aggregators and direct business.

Other figures for the period ended September 30, 2026 are as follows. The company's market share in individual new business premium and individual rated premium is 25.2% and 22.6% respectively, and it leads the private market. Annualised premium equivalent (APE) rose 18% to Rs 11,746 crore. Total new business sum assured rose 68% to Rs 11,92,792 crore.

Persistency at 13M, 25M and 49M improved by 44 bps, 110 bps and 40 bps respectively. Value of new business (VoNB) rose 19% to Rs 3,274 crore, and the VoNB margin is 27.9%. Indian Embedded Value (IEV) rose 15% to Rs 87,349 crore. The operating return on embedded value is 18.8%.