SBI Life Q4 Results: Net profit flat at ₹813 crore, net premium income declines 5% YoY to ₹23,861 crore

Net premium income of the company declined by 5% to ₹23,861 crore in the reporting quarter as compared to ₹25,116 crore in the same period last year.

SBI Life Insurance Company shares ended 0.45% down at ₹1,608.20 apiece on the NSE on Thursday, April 24, ahead of its Q4 earnings announcement after market hours.

SBI Life Q4 FY25 Results: Key highlights

• The company's first-year premiums in the March quarter increased by 7.3% to ₹4,858.7 crore as compared to ₹4,528.3 crore in Q4 FY24.

• SBI Life's renewal premium jumped 12.9% year-on-year (YoY) to ₹14,680.3 crore during the reporting period against ₹13,003.2 crore in the March quarter of FY24.

• Single premiums of the company declined 42.1% YoY to ₹4,462.5 crore in Q4 FY25 against ₹7,709.5 crore reported in the year-ago quarter.

• Net commission of the company increased to ₹998 crore in Q4 FY25, up 17.2% as compared to ₹851 crore in Q4 FY24.

• The insurer's 13th-month persistency ratio was at 86.64% in the March quarter against 85.76% in the year-ago period, meanwhile, its 61st-month persistency ratio improved to 61.51% from 57.81% in Q4 FY24.

• The company reported an Individual Rated Premium of ₹19,350 crore, holding a 22.8% private market share in FY25.

• Protection New Business Premium for FY25 was at ₹4,100 crore, while its Individual New Business Premium increased by 11% YoY to ₹26,360 crore in the March quarter.

• Gross Written Premium (GWP) of the company climbed 4% to ₹84,980 crore in the March quarter, led by an 11% growth in New Business Regular Premium and a 14% jump seen in Renewal Premium.

Commenting on the Q4 FY25 results of the company, Amit Jhingran, MD & CEO of SBI Life, said, "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. Our team exhibited exceptional agility in adapting to customer needs, innovated boldly to reshape experiences and scaled efficiently to make the benefit of life insurance available to every Indian."

He added, "I am delighted to share that with a 12% growth in Individual Rated Premium, SBI Life outperformed industry growth of 10.5%. This speaks volumes about the strength and dedication of our teamwork, the trust that customers place in us and the excellence with which we execute our strategy."