SBI Life hits 52-week high on strong new business premium growth in Feb

SBI Life showed strong growth of more than 60 per cent in new business premium.

Shares of SBI Life Insurance gained 4 per cent to hit a 52-week high of Rs 965 on the BSE in intra-day trade on Tuesday after reporting impressive growth (more than 60 per cent) in new business premiums (NBP) in the month of February. NBP is the premium acquired from new policies for a particular year. The stock surpassed its previous high of Rs 954.65, touched on January 8, 2021. It hit a record high of Rs 1,030 on October 30, 2019.

February 2021 saw life insurers recording impressive 21 per cent growth in NBP to Rs 22,425 crore,