Conference Call with SBI Life Insurance Company Management and Analysts on Q3FY25 Performance and Outlook. Listen to the full earnings transcript.
SBI Life Insurance announced 9MFY25 results Private Market leadership in NBP of Rs 262.6 billion with 22.4% market share Private Market leadership in Individual NBP of Rs 198.6 billion with 12% growth and 27.8% market share Annualized Premium Equivalent (APE) stands at Rs 159.7 billion with growth of 11% Individual New Business Sum Assured stands at Rs 1,815 billion with 33% growth Improvement in 13M & 61M persistency by 83 bps & 521 bps respectively Value of New Business (VoNB) stands at Rs 42.9 billion VoNB Margin stands at 26.9% Indian Embedded value (IEV) stands at Rs 618.4 billion with 17% growth over FY24 Profit After Tax (PAT) stands at Rs 16.0 billion with 48% growth Robust Solvency ratio of 2.04 Cost Efficiency Total Cost ratio for 9MFY25 is 10.2% vis-a-vis 9.9% for 9MFY24 Commission ratio for 9MFY25 is 4.9% vis-a-vis 4.8% for 9MFY24 Operating Expense ratio for 9MFY25 is 5.3% vis-a-vis 5.1% in 9MFY24 Profitability Profit after Tax (PAT) grew by 48% to 16.0 billion for 9MFY25. VoNB increased by 6% to Rs 42.9 billion for 9MFY25. VoNB margin stands at 26.9% in 9MFY25. Persistency Strong growth in 13th month and 61st month persistency (based on premium considering Regular Premium/Limited Premium payment under individual category) in 9MFY25 by 83 bps and 521 bps respectively due to our focus on improving the quality of business and customer retention. Assets under Management AuM grew by 19% from Rs 3,714.1 billion as on December 31, 2023 to Rs 4,416.8 billion as on December 31, 2024 with debt-equity mix of 61:39. 94% of the debt investments are in AAA and Sovereign instruments. Financial position The Company’s net worth increased by 15% from Rs 144.3 billion as on December 31, 2023 to 165.9 billion as on December 31, 2024. Robust solvency ratio of 2.04 as on December 31, 2024 as against the regulatory requirement of 1.50 indicating strong financial position of the Company. Distribution network APE channel mix for 9MFY25 is bancassurance channel 63%, agency channel 28% & other channels 9% Individual NBP of Agency channel has increased by 36% to Rs 52.6 billion in 9MFY25 and Individual NBP of Other channel has increased by 26% to Rs 25.3 billion in 9MFY25 as compared to same period last year. Result PDF