SBI Life Q3 net down 40% despite surge in investment, premium income

Net premium income up almost 18%, revenue from investment rises more than 3x

Private sector life insurer SBI Life Insurance has reported a 40 per cent decline in its net profit at Rs 232.85 crore in Q3FY21, from Rs 389.77 crore in the corresponding period of FY20 despite a robust investment income and healthy rise in premium income.

Net premium income earned by the insurer in the reporting quarter totaled to Rs 13,766.49 crore, up 17.71 per cent from Rs 11,694.51 crore in the Q3FY20. Its income from investment rose 213 per cent to Rs 12,776.91 crore in the October–December quarter of FY21, compared to Rs 4,073.26 crore in the corresponding period of