SBI Life Insurance Co Ltd (NSE:SBILIFE) Q2 2025 Earnings Call Highlights: Strong Profit Growth ...

• New Business Premium: INR157.3 billion, private market share of 21.3%.

• Individual New Business Premium: INR114.9 billion, growth of 13%, private market share of 25.7%.

• Gross Written Premium: INR359.9 billion, growth of 7%.

• Protection New Business Premium: INR17.2 billion.

• Profit After Tax: INR10.5 billion, growth of 38% over the previous period.

• Value of New Business: INR24.2 billion, margin of 26.8%.

• Embedded Value: INR660.7 billion, growth of 29% over the previous period.

• Assets Under Management: INR4.39 trillion, growth of 27%.

• Solvency Ratio: 2.04, above the regulatory requirement of 1.50.

• Renewal Premium: INR202.6 billion, growth of 16%.

• APE Premium: INR90.3 billion, growth of 9%.

• Individual APE: INR82.6 billion, growth of 16%.

• Individual New Business Sum Assured: Growth of 20% over the previous period.

• Agency Channel Individual APE: INR27.9 billion, growth of 36%.

• Number of Agents: 2,64,058, growth of 11%.

• Claim Settlement Ratio: 99.2%, improvement of 68 basis points.

• OpEx Ratio: 5.8%.

• Total Cost Ratio: 10.6%.

• 13 Month Persistency: 86.4%, improvement of 98 basis points.

• 61 Month Persistency: 61.9%, improvement of 438 basis points.

• Warning! GuruFocus has detected 5 Warning Signs with FMBRY.

Release Date: October 23, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

• SBI Life Insurance Co Ltd (NSE:SBILIFE) reported a strong profit after tax of INR10.5 billion, marking a 38% growth over the corresponding period last year.

• The company maintained its private market leadership with a 21.3% share in new business premium and a 25.7% share in individual new business premium.

• SBI Life Insurance Co Ltd (NSE:SBILIFE) introduced nine new products, including unit-linked insurance, term insurance, and annuity products, enhancing its product portfolio.

• The company's embedded value grew by 29% to INR660.7 billion, indicating strong underlying business performance.

• The solvency ratio stands at 2.04, well above the regulatory requirement of 1.50, showcasing financial stability.

• The company experienced slower growth in premium numbers than anticipated due to a high base from the previous year.

• There were headwinds in the group business, particularly with group savings products, due to unsustainable rates offered by competitors.

• SBI Life Insurance Co Ltd (NSE:SBILIFE) faced challenges in the bancassurance channel, with slower growth as they prioritize digital platform development.

• The protection segment's growth was not as strong as expected, partly due to delays in launching new products.

• The company's credit life new business premium showed minimal growth, indicating challenges in this segment.