SBI Life Insurance Q4 Results: Net Profit Flat, Misses Estimates

SBI Life Insurance Co.'s consolidated net profit stood flat the January–March quarter, thereby missing analysts' estimates.

The insurer posted a bottom line of Rs 814 crore in the quarter ended March. 31, 2025. That compares with a consensus estimate of Rs 1,038 crore by analysts polled by Bloomberg. In the year-ago period, the company posted a net profit of Rs 811 crore.

The net premium income during the quarter under review slipped 5% year-on-year to Rs 23,861 crore, compared to Rs 25,116 crore in the corresponding quarter of the previous fiscal.

SBI Life Q4 FY25 Highlights (Consolidated, YoY)

• Net profit up 0.3% at Rs 814 crore (Bloomberg estimate: Rs 1,038 crore).

• Net premium income slips 5% at Rs 23,861 crore.

• Annualised premium equivalent stands at Rs 5,450 crore with growth of 2.25%.

• Value of new business stands at Rs 1,660 crore with growth of 9.93%.

• VNB margin up 351 basis points at 30.46% versus 26.95%.

FY25 Performance

• APE stands at Rs 21,420 crore with growth of 9%

• Value of new business stands at Rs 5,950 crore with growth of 7%

• VoNB Margin stands at 27.8%.

• Indian embedded value stands at Rs 70,250 crore with 21% growth.

• Operating return on embedded value stands at 20.2%.

• Assets under management grew by 15% to Rs 4.5 lakh crore.

• Improvement in 13th month and 61st persistency by 63 bps and 528 bps, respectively.

SBI Life's solvency ratio increased to 1.96%, compared to 2.04% in the preceding quarter.

The 13th month persistency ratio rose to 86.64% from 85.76% in the year-ago quarter, whereas the 61st month persistency ratio improved to 61.51% from 57.8% in the year-ago period.

The company has maintained its leadership position in individual rated premium with 22.8% private market share in fiscal 2025.

"FY25 was an exceptional year on every front. Standing at the intersection of regulatory changes, evolving customer needs and digital acceleration, we responded with resilience and conviction," said Amit Jhingran, the company's MD and CEO.

Shares of SBI Life closed 0.03% lower at Rs 1,615 apiece on the NSE, compared to a 0.34% decline in the benchmark Nifty 50.