SBI Life Insurance Co. has reported strong financial performance for Q2 FY25, with its net profit rising by 39% year-on-year (YoY) to ₹529 crore from ₹380 crore in the same quarter last year.
Key Financial Metrics:
- First Year Premium for Q2 FY25 stood at ₹4,915.67 crore, reflecting a 6% YoY increase from ₹4,633.32 crore in Q2 FY24. On a QoQ basis, first-year premium surged 56%, up from ₹3,146.42 crore in the previous quarter.
- Net Premium Income for Q2 FY25 rose to ₹20,266.10 crore, up 1% YoY from ₹20,049.66 crore in Q2 FY24. On a quarter-on-quarter basis, net premium income saw a 5% growth, rising from ₹19,283.50 crore in Q1 FY25.
SBI Life’s strong growth in both first-year premium and net premium income highlights its solid market position and ability to expand its customer base. The company’s consistent performance showcases its capacity to navigate market challenges while maintaining a positive growth outlook.
