SBI Life Insurance Company announced FY24 results:
Financial Highlights:
- Private Market leadership in NBP of Rs 382.4 billion with 29% growth and 24.6% market share
- Private Market leadership in Individual NBP of Rs 238.3 billion with 14% growth and 25.8% market share
- Annualized Premium Equivalent (APE) stands at Rs 197.2 billion with growth of 17%
- Protection Annualized Premium Equivalent (APE) stands at Rs 21.0 billion with growth of 18%
- Annuity and Pension New Business stands at Rs 89.3 billion with 6% growth
- Value of New Business (VoNB) stands at Rs 55.5 billion with 9% growth
- VoNB Margin stands at 28.1%
- Operating Return on Embedded Value stands at 21.8%
- Profit After Tax (PAT) stands at Rs 18.9 billion with 10% growth
- Solvency ratio of 1.96
- Assets under Management stands at Rs 3.9 trillion with 27% growth