SBI Life Insurance Company has announced its financial results for the fiscal year ending March 31, 2026, showcasing a 2% increase in profit after tax (PAT), which stands at ₹24.7 billion. The company has also demonstrated significant growth across various financial parameters.
The company’s Annualized Premium Equivalent (APE) reached ₹242.7 billion, marking a 13% growth. Additionally, the Individual New Business Sum Assured saw a substantial 61% increase, amounting to ₹4,463 billion. The Value of New Business (VoNB) also grew by 12%, reaching ₹66.7 billion, with a VoNB margin of 27.5%.
SBI Life Insurance’s Indian Embedded Value (IEV) rose by 15% to ₹807.9 billion, reflecting the company’s robust financial health. The Assets under Management (AuM) increased by 9% to ₹4.9 trillion, further solidifying the company’s market position.
The company’s solvency ratio stands at a strong 1.90, well above the regulatory requirement of 1.50, indicating a solid financial foundation. The net worth of the company increased by 12% to ₹190.8 billion.
In terms of market leadership, SBI Life Insurance maintained its position with a 22.9% share in the private market for Individual Rated Premium. The Gross Written Premium (GWP) saw a 19% growth, reaching ₹1,012.9 billion, driven by a 20% increase in New Business Premium and a 19% rise in Renewal Premium.
The company’s distribution network remains extensive, with 358,506 trained insurance professionals and 1,230 offices across the country. The APE channel mix for FY26 includes a 60% contribution from the bancassurance channel, 29% from the agency channel, and 11% from other channels.
SBI Life Insurance’s Managing Director and CEO, Amit Jhingran, highlighted the improved momentum in the life insurance industry during FY26, supported by regulatory measures and a shift towards protection-oriented products. The exemption of GST on individual policies has also enhanced affordability and demand.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).