Page 3 - Sbi Life Insurance

SBI Life Insurance Q4 results: Net profit rises 8% to Rs 811 crore

The net premium income of the largest private life insurer rose 26.23 per cent year-on-year to Rs 25,116 crore in the reporting quarter from Rs 19,896 crore in Q4 FY23

SBI Life Insurance Q4 results: PAT rises 4.4% to Rs 811 cr, VNB up 9%

The value of new business (VNB) - the expected profit from new policies - rose 9.5% to 55.50 billion rupees ($666.1 million). The VNB margin contracted to 28.1% from 30.1% a year earlier

SBI General Insurance result: Net profit jumps 30.4% to Rs 240 cr in FY24

SBI General Insurance on Thursday reported a 27.6 per cent rise in net profit at Rs 240 crore for the financial year ended March 2024. The non-life subsidiary of State Bank of India had recorded a net profit of Rs 188 crore in the previous financial year. The company also demonstrated strong growth in overall business clocking a Gross Written Premium (GWP) of Rs 12,731 crore, registering a growth of 17 per cent over the previous year, SBI General Insurance said in a statement. The diverse product portfolio, distribution reach, brand and cost optimization has helped deliver these numbers, it said. "The retail business led by Motor and Health have shown strong growth. SBI General Insurance continues to be No. 1 in the Personal Accident segment in the private market, along with its strong presence in various lines of business including Health, Home, Crop, Commercial and Motor," it claimed. Its solvency ratio stood at 2.25, signifying its strong financial position against the minimum

Life insurance shares in focus; Max Financial, HDFC Life rally up to 6%

In a relief for life insurance company investors, regulator Irdai has retained most existing surrender charges in the revised product regulations

SBI Life Insurance buys KIMS shares worth Rs 239 cr in open mkt transaction

SBI Life Insurance Company on Tuesday bought shares of Krishna Institute of Medical Sciences (KIMS) for Rs 239 crore through an open market transaction. According to the bulk deal data available with the BSE, SBI Life Insurance Company Ltd purchased 11.49 lakh shares, representing a 1.4 per cent stake in KIMS. The shares were picked up at an average price of Rs 2,085 apiece, taking the deal size to Rs 239.58 crore. Meanwhile, ICICI Ventures' affiliate India Advantage Fund S4 I sold 10,70,545 shares at the same price. On Tuesday, shares of KIMS rose 1.93 per cent to settle at Rs 2,130.40 apiece on the BSE.

SBI Life Insurance Q3 results: Net profit rises 5.8% to Rs 321.75 crore

Sequentially, it is 15.37 per cent lower than the Rs 380.19 crore profit accrued in Q2 FY24

SBI Life Insurance posts weaker new business margin for April-Dec

Value for new business (VNB) - the expected profit from new policies - rose 11% to 40.40 billion rupees ($486 million), the company said, although margins contracted to 28.1% from 29.6% a year earlier

SBI Life Insurance Q2 net profit stays flat amid rise in expenses

The net premium income of the insurer jumped by 21.68 per cent to Rs 20,049.66 crore from Rs 16,477.26 crore, as compared to the corresponding period last year

SBI Life Insurance Q2 PAT flat at Rs 380 crore as higher expenses weigh

Net premium income rose 21.7% to Rs 20,050 crore from Rs 16,477 crore, while expenses surged 22.1%, mainly due to higher commissions and rewards during the quarter

SBI Life Insurance Q1 results: Net profit rises 45% to Rs 380 crore

New Business Premium (NBP) has grown by 11% to Rs 6210 crore in Q1 FY 24 aided by growth in single premium business by 18%

SAT stays Irdai order to transfer Sahara Life Insurance assets to SBI Life

On June 2, Irdai directed SBI Life Insurance to take over policy liabilities of around 2 lakh policies of Sahara Life as the latter failed to comply with the regulatory directions

SAT stays Irdai order transferring Sahara's Life Insurance biz to SBI Life

In a big relief to Sahara India Life Insurance Co Ltd, the Securities Appellate Tribunal (SAT) on Tuesday stayed regulator Irdai's order directing the transfer of policy liabilities of around two lakh policies along with assets of Sahara Group firm to SBI Life Insurance Company. The order comes after Sahara India Life filed an appeal against an order passed by the Insurance Regulatory and Development Authority of India (Irdai). Irdai, in its order on June 2, ordered for transferring the entire business of Sahara India Life to SBI Life. Further, the books of accounts, bank accounts, etc were also been directed to be transferred. The decision was taken at the meeting of the Irdai given the deteriorating financial health of Sahara India Life. In its order on Tuesday, the appellate tribunal stayed "the effect and operation of the impugned order dated June 2, 2023, till further orders of this Tribunal". The matter is now listed for further consideration and arguments on August 3. Sahar

Macquarie downgrades 3 private sector insurers on growth concerns

At present, HDFC Life trades at 15.3x its projected VNB for FY25, while ICICI Pru and SBI Life trade at 8.1 times and 9.5 times, respectively

Stocks to Watch on Monday, June 5: SBI Life, Hero Moto, Bajaj Finserv, NTPC

Stocks to Watch today, June 5, 2023: Brent crude related stocks could see considerable action today as oil prices jumped over 2 per cent overnight, and another 2 per cent Monday morning

Transfer of Sahara Life biz unlikely to impact SBI Life's balance sheet

Transfer of liabilities of around two lakh policies along with assets of Sahara Life is unlikely to have a major impact on SBI Life Insurance as the business of the former is very small, an expert said. The total number of policies being transferred is only a small percentage of SBI Life's total policies, a company official said. At the same time, capital related to policies based on actuarial calculation is being transferred to SBI Life, an insurance industry expert said. Besides, the expert said that the new policyholders may provide an opportunity for SBI Life to offer their product depending on their age profile. There may not be a big impact on SBI Life, the expert said, adding, it is also a test case for the industry since it was opened for private players in 2000. On Friday, regulator Irdai directed SBI Life Insurance to takeover the policy liabilities of around two lakh policies along with assets of stressed Sahara India Life Insurance Co Ltd (SILIC). The decision was tak

Not a merger with Sahara Life, just transfer of policyholders: SBI Life

SBI Life, a subsidiary of country's biggest lender State Bank of India (SBI), has said it is not a merger between the two companies but only a transfer of the policyholder related assets and liabilities of Sahara Life Insurance. On Friday regulator Irdai directed SBI Life Insurance to takeover the policy liabilities of around two lakh policies along with assets of stressed Sahara India Life Insurance Co Ltd (SILIC). The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC. Following the Irdai order, SBI Life assured two lakh policyholders of "high levels" of service and commitment as is accorded to our customers. "We have started and we are expeditiously working on the process of integrating all these policyholders in our systems. While the full integration may take some time, we request these policyholders to reach out to us on our helpline number 1800 267 9090 or email us at

SBI Life to take over 200,000 policies of Sahara India Life Insurance

SBI Life, which has 990 branches across the country, serves 49,036,079 policyholders

Karur Vysya Bank to offer SBI Life Insurance products at its branches

Private sector Karur Vysya Bank has inked a pact with SBI Life Insurance to offer their insurance products to customers at its branches, the bank said on Tuesday. The Tamil Nadu-based bank offers a range of financial services through similar tie-ups with leading service providers. "In an attempt to offer a wider choice to customers in the life insurance sphere, KVB has inked an agreement with SBI Life." the Managing Director and CEO of the bank B Ramesh Babu said. "I am sure that together both of us will be able to provide not just choice but quality options to the customers in the days to come," he said. On the tie-up with Karur Vysya Bank, SBI Life Insurance MD and CEO Mahesh Kumar Sharma, "we look forward to strengthening the financial immunity of Karur Vysya Bank's customers with our life insurance solutions and tech-enabled services." "We are confident that the partnership will further enable us to expand the insurance market across the bank's presence in the country," he add

Stocks to watch: ICICI Bank, RIL, UltraTech, Adani Ent, SBI Life, Petronet

Stocks to Watch: Shares of Axis Bank, Canara Bank, IDBI, Jindal Stainless and Tata Communications will be in focus ahead of Q3 results on Monday.

SBI Life Insurance Q3 profit falls over 16% to Rs 304 cr, total income up

Private sector SBI Life Insurance on Saturday reported more than 16 per cent decline in net profit at Rs 304 crore in the third quarter ended December 2022