SBI Life Insurance Q4 results: Net profit rises 4 % to Rs 810 crore

The insurer also declared a dividend of Rs 2.7 per share.

SBI Life Insurance on April 26 reported a net profit of Rs 810 crore for the March quarter, up 4 percent from the year-ago period.

The insurer's net premium income came in at Rs 25,116 crore against Rs 19,896 crore last year. The solvency ratio dipped to 1.96 percent versus 2.15 percent last year.

For the year ended March 2024, the annualized premium equivalent (APE) of the insurer stands at Rs 19,720 crore with growth of 17 percent YoY. The value of new business margin (VNB) for the year stood at 28.1 percent.

Total assets under management of the insurer stood at Rs 3.88 lakh crore versus Rs 3.07 lakh crore. The insurer also declared a dividend of Rs 2.7 per share.

The stock closed at Rs 1418.90 apiece on BSE, nearly 1.74 percent down from the previous close.