SBI Life Insurance Company Ltd Share Price – NSE /  BSE

Insurance, Mid Cap

The life insurer's net premium income grew by 1.07% YoY to Rs 20,266.10 crore during the quarter.

The insurance company’s income from investments soared 132.18% to Rs 19,753.06 crore in the September quarter of FY25 as compared to Rs 8,507.40 crore posted in the same period last year.

The company’s net worth grew by 16.39% YoY to Rs 16,260 crore in Q2 FY25 as compared to Rs 13,970 crore recorded in Q2 FY24.

SBI life reported robust solvency ratio of 2.04 as on 30 September 2024 as against the regulatory requirement of 1.50 indicating strong financial position of the company.

Asset under management (AuM) jumped 27.17% YoY to Rs 4,38,950 crore as on 30 September 2024 with debt-equity mix of 60:40. Over 95% of the debt investments are in AAA and sovereign instruments.

On half-year basis, the company's net profit jumped by 37.79% to Rs 1,048.97 crore on 32.25% increase in total income to Rs 74,407.09 crore in H1 FY25 over H1 FY24.

Value of new business (VoNB) increased by 2.54% YoY to Rs 2,420 crore for H1 FY25. VoNB margin reduced to 26.8% in H1 FY25 as against 28.6% recorded in H1 FY24.

New business premium (NBP) decined by 3.25% YoY to Rs 15,730 crore in H1 FY25.

Gross written premium (GWP) grew 6.70% to 35,990 crore in H1 FY25 mainly due to 11% growth in new business regular premium (RP) and 16% growth in renewal premium (RP) in H1 FY25.

The company’s total cost ratio for H1 FY25 was at 10.6% as compared with 10% reported in H1 FY24. The commission ratio was 4.7% in H1 FY25 as against 4.6% in H1 FY24. Operating expense ratio for H1 FY25 was 5.8% as against 5.4% in H1 FY24.

Annualized premium equivalent (APE) stood at Rs 9,030 crore, registering growth of 9.32% YoY.

SBI Life recorded Strong growth in 25th month and 61st month persistency (based on premium considering Regular Premium/ Limited Premium payment under individual category) in H1 FY25 by 116 bps and 438 bps respectively due to focus on improving the quality of business and customer retention.

SBI Life Insurance Company is one of the leading life Insurance companies in India. The company has strong distribution network of 3,33,080 trained insurance professionals consisting of Agents, CIFs and SPs along with widespread operations with 1,082 offices across country. It has diversified distribution network comprising of strong bancassurance channel, agency channel and others comprising of corporate agents, brokers, micro agents, common service centers, insurance marketing firms, web aggregators and direct business.

The scrip added 0.93% to settle at Rs 1,714.90 on the BSE.

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Net profit of SBI Life Insurance Company rose 39.25% to Rs 529.42 crore in the quarter ended September 2024 as against Rs 380.19 crore during the previous quarter ended September 2023. Sales rose 1.08% to Rs 20266.10 crore in the quarter ended September 2024 as against Rs 20049.66 crore during the previous quarter ended September 2023.

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SBI Life Insurance Company will hold a meeting of the Board of Directors of the Company on 23 October 2024.

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SBI Life Insurance Company Ltd is up for a third straight session today. The stock is quoting at Rs 1729.75, up 1.37% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.97% on the day, quoting at 24351.65. The Sensex is at 79644.71, up 0.96%. SBI Life Insurance Company Ltd has gained around 10.97% in last one month.

Meanwhile, Nifty Financial Services index of which SBI Life Insurance Company Ltd is a constituent, has gained around 2.45% in last one month and is currently quoting at 22838.4, up 0.8% on the day. The volume in the stock stood at 4.66 lakh shares today, compared to the daily average of 16.1 lakh shares in last one month.

The benchmark August futures contract for the stock is quoting at Rs 1727.6, up 1.04% on the day. SBI Life Insurance Company Ltd is up 29.63% in last one year as compared to a 24.6% jump in NIFTY and a 15.73% jump in the Nifty Financial Services index.

The PE of the stock is 84.08 based on TTM earnings ending June 24.

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