SBI Life FY12 net up 52% to Rs 556 crore

SBI Life on Wednesday reported a 52 per cent rise in net profit to Rs 556 crore for the financial year ended march 31, 2012, as against Rs 366 crore reported in the corresponding a year ago. Total premium collected by the largest private life insurer in the country, during 2011-12 grew by one per cent to Rs 13,133 crore. This is largely due to new business premium, which was down by 13 per cent to Rs 6,531 crore.