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SBI Life Q4 Results Review: Motilal Oswal Maintains 'Buy', Hikes Target Price
Motilal Oswal reiterates Buy rating on SBI Life, says product mix shift to non-linked drives VNB beat
25 Apr 2025, 10:03 AM IST 
SBI Life Insurance reported 2% YoY growth in new business APE to Rs 54.5 billion (in line). (Photo Source: jannoon028/ freepik)
SBI Life's margin improvement was on the back of, the launch of a high-sum-assured protection product six months back, several rider attachments which increased product-level margin, and in-built protection in some products. The company expects to achieve a 5% shift toward traditional products in FY26, taking the contribution to 35% in the product mix and 65% for ULIPs (70:30 currently).
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