SBI Life Insurance Company Ltd — earnings calls
2 quarters summarised from transcripts filed with the exchange, every statement cited. Newest first.
SBI Life reported Q1 FY27 results with Individual Rated Premium growing 14% year-on-year, supported by growth across all product segments and distribution channels. Profit after tax grew 22% to INR7.2 billion, while Value of New Business grew 29% to INR14.1 billion, though VoNB margin declined to 26.2% due to a higher mix of group business and GST impact. Management attributed the margin compression largely to a one-off higher contribution from group term insurance business and indicated the drag from GST would continue for another quarter before normalizing.
SBI Life reported new business premium of INR425.5 billion, up 20%, with individual rated new business premium at INR219 billion, up 13%. Profit after tax grew 2% to INR24.7 billion, impacted by GST and revised Labour Law changes, while VoNB margin stood at 27.5% and value of new business rose 12% to INR66.7 billion. Management said that excluding the GST and one-time impacts, profit after tax would have grown 29% and VoNB margin would have been 29%.