Shift in product mix will continue in FY26: SBI Life Insurance MD & CEO

An ideal product mix depends on what are the strengths of the company and how they cater the needs of the customers, says Jhingran

Amit Jhingran, managing director (MD) and chief executive officer (CEO), SBI Life Insurance, spoke about the reducing dependence on unit-linked insurance plans (Ulips) and growth strategy for the current financial year, in an interview with Aathira Varier in Mumbai. Edited excerpts:

 

Why was premium income growth muted in FY25?

 

The company grew around 13 per cent on an individual annual premium equivalent (APE) basis. Total APE was somewhat muted because of lower contribution from the group fund. We consciously did not go looking for it as we found the rates being offered in the industry to be margin negative for