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SBI Life Insurance Company on Friday reported a 6.6 per cent decline in net profit to Rs 494.6 crore in the September quarter of the current fiscal. The insurer had recorded a net profit of Rs 529.42 crore in the same quarter of the last fiscal year. The company's net premium income for the quarter under review rose to Rs 24,848 crore from Rs 20,266 crore registered in the second quarter ended September 2024, according to a stock exchange filing. Amit Jhingran, MD and CEO of SBI Life, said the government's GST reform is a key step toward insurance coverage for all by 2047, improving affordability and accessibility. "These reforms will drive broader adoption, financial security and sustainable sector growth," he added. Shares of SBI Life closed 0.6 per cent lower at Rs 1840.50 on the BSE.
SBI Life Insurance on Thursday reported a 14 per cent growth in net profit to Rs 590 crore for the June quarter of the current financial year. The company's profit after tax stood at Rs 520 crore in the April-June quarter of previous financial year. The total income of the company improved to Rs 38,696 crore as against Rs 34,392 crore in the same period a year ago, SBI Life Insurance said in a regulatory filing. New business premium of the insurance firm rose to Rs 7,270 crore during the period under review compared to Rs 7,033 crore in the June 2024 quarter. Its renewal premium has increased 24 per cent to Rs 10,550 crore as against Rs 8,540 crore in the the corresponding period ended on June 30, 2024. Asset Under Management (AUM) grew 15 per cent from Rs 4,14,770 crore as on June 30, 2024 to Rs 4,75,810 crore as on June 30, 2025 with debt-equity mix of 60:40, it said. The company's net worth increased 15 per cent from Rs 15,570 crore as on June 30, 2024 to Rs 17,830 crore as on