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SBI Life Insurance pre-tax profit up 2.6% to Rs 387.68 crore in Q1

The value of new business was down 29 per cent year on year to Rs 240 crore.

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The new business margin of the insurer stood at 18.7 per cent in Q1FY21, against 17.9 per cent in the same period a year ago, up 80 basis points.

BS Reporter
SBI Life Insurance has reported a 2.6 per cent rise in profit before tax to Rs 387.68 crore in the first quarter of this financial year, while its net profit grew 5 per cent to Rs 390 crore in the same period last year. While the new business premium of the insurer fell 3 per cent to Rs 3,060 crore in the June quarter, its gross written premium rose 14 per cent to Rs 7,640 crore, against Rs 6,690 crore in the same period a year ago. 

The value of new business was down 29 per cent year on year to

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First Published: Jul 22 2020 | 1:23 AM IST

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