SBI Life Insurance has announced its financial results for the quarter ended December 31, 2024, showcasing robust growth across key metrics. The company’s net premium income for Q3 FY25 surged 9.5% year-on-year (YoY) to ₹24,827.54 crore, compared to ₹22,316.47 crore in Q3 FY24. Profit after tax (PAT) also reported a significant rise of 71.2% YoY to ₹550.82 crore from ₹321.75 crore in the same quarter last year.
SBI Life Q3 FY25 results key highlights:
- Gross Premium Income:
- First-Year Premium: ₹6,45,084 lakh, a strong increase from ₹5,67,669 lakh YoY.
- Renewal Premium: ₹14,46,757 lakh, reflecting consistent growth from ₹12,71,995 lakh YoY.
- Single Premium: ₹4,07,942 lakh, marginally up from ₹4,06,196 lakh YoY.
- Net Premium Income: ₹24,827.54 crore, up 9.5% YoY.
- Profit After Tax (PAT): ₹550.82 crore, marking an impressive 71.2% YoY growth from ₹321.75 crore in Q3 FY24.
- Nine-Month Performance:
- Net premium income for the nine months ended December 31, 2024, stood at ₹60,19,912 lakh, up from ₹55,47,063 lakh YoY.
- Cumulative PAT for the nine months was ₹1,59,979 lakh, showing remarkable growth from ₹1,08,298 lakh YoY.
The growth in PAT reflects improved profitability driven by higher premium income and efficient cost management. SBI Life’s strong quarterly performance underscores its robust position in the insurance market, supported by consistent demand for life insurance products.