SBI Life Insurance spurts after good Q4 outcome

SBI Life Insurance Company rose 3.72% to Rs 637.85 at 14:34 IST on BSE after net profit rose 20.06% to Rs 457.68 crore on 54.78% increase in total income to Rs 15,739.85 crore in Q4 March 2019 over Q4 March 2018.

The result was announced after market hours yesterday, 25 April 2019.

Meanwhile, the S&P BSE Sensex was up 273.01 points, or 0.70% to 39,003.87.

On the BSE, 1.19 lakh shares were traded in the counter so far compared with average daily volumes of 37,000 shares in the past two weeks. The stock had hit a high of Rs 643 and a low of Rs 624 so far during the day. The stock hit a 52-week high of Rs 774.75 on 27 April 2018. The stock hit a 52-week low of Rs 487 on 1 October 2018.

SBI Life Insurance Company said the value of new business (VoNB) for FY 2019 stood at Rs 1,720 crore, up by 24% over the previous fiscal.

VoNB is the present value of expected future earnings from new policies written during a specified period and it reflects the additional value to shareholders expected to be generated through the activity of writing new policies during a specified period.

Asset under management (AuM) grew by 21% from Rs 1,16,260 crore as of 31 March 2018 to Rs 1,41,020 crore as of 31 March 2019 with debt-equity mix of 77:23. 90% of the debt investments are in AAA and Sovereign instruments.

SBI Life Insurance Company is a joint venture between State Bank of India (SBI) and BNP Paribas Cardif S.A. and is one of the leading life Insurance companies in India.

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