 "SBI Life Insurance Q3 net profit up 43% at Rs 156 crore")
The new business premium of the company grew 25% to Rs 1,633 crore during the quarter as against Rs 1,303 crore in the same period last year, SBI Life Insurance said in a statement.
The collection of renewal premiums recorded a growth of 33% at Rs 1,958 crore from Rs 1,472 crore over the corresponding quarter last year.
Also Read
Commenting on the results, Arijit Basu, Managing Director and CEO of SBI Life Insurance, said: "We look forward to ending the last quarter of the year on a strong note."
For the three quarters ended December, the net profit rose by 14% to Rs 615 crore.
At the same time, during the nine months of 2014-15, the new business premiums rose by 11% to Rs 3,362 crore and renewal premium was up by 33% to Rs 4,402 crore.
Assets under management grew by 23% to Rs 67,323 crore as on December 31, 2014.
SBI Life Insurance had a strong solvency ratio of 2.27 as against the regulatory mandate of 1.5.
The company's net worth stood at Rs 3,980 crore, a growth of 32.5% over last year.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%