Conference Call with SBI Life Insurance Company Management and Analysts on Q1FY26 Performance and Outlook. Listen to the full earnings transcript.
SBI Life Insurance Company announced Q1FY26 results Profit after Tax (PAT) grew by 14% to Rs 5.9 billion for Q1FY26. VoNB increased by 12% to Rs 10.9 billion for Q1FY26. VoNB margin stands at 27.4% in Q1FY26. Cost Efficiency: Total Cost ratio for Q1FY26 is 10.8% vis-a-vis 10.5% for Q1FY25. Commission ratio for Q1FY26 and Q1FY25 is 4.4%. Operating Expense ratio for Q1FY26 is 6.3% vis-a-vis 6.1% in Q1FY25. Persistency: Strong growth in 13th month and 61st month persistency (based on premium considering Regular Premium/ Limited Premium payment under individual category) in Q1FY26 by 58 bps and 501 bps respectively due to our focus on improving the quality of business and customer retention. Assets under Management: AuM grew by 15% from Rs 4,147.7 billion as on June 30, 2024 to Rs 4,758.1 billion as on June 30, 2025 with debt-equity mix of 60:40. Approx. 94% of the debt investments are in AAA and Sovereign instruments. Financial position: The Company’s net worth increased by 15% from Rs 155.7 billion as on June 30, 2024 to Rs 178.3 billion as on June 30, 2025. Robust solvency ratio of 1.96 as on June 30, 2025 as against the regulatory requirement of 1.50 indicating strong financial position of the Company. Distribution network: The Company has strong distribution network of 323,838 trained insurance professionals consisting of Agents, CIFs and SPs along with widespread operations with 1,146 offices across country. The Company 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. APE channel mix for Q1FY26 is bancassurance channel 58%, agency channel 27% & other channels 15%. Individual NBP of Agency channel has increased by 4% to Rs 13.3 billion in Q1FY26 and Individual NBP of Other channel has increased by 16% to Rs 8.2 billion in Q1FY26 as compared to same period last year. Amit Jhingran, MD & CEO of SBI Life, said: In Q1FY26, the Company is able to achieve favorable shift in our product mix towards protection solutions and guaranteed non-par savings, reflecting evolving customer preferences and our strategic focus. There has been remarkable growth in New Business Sum Assured mainly due to growing awareness of customer towards financial security and fulling dreams of their loved ones. The growth in renewal premium along with improvement in our 13th and 61st month persistency ratios reflects strengthening of our customer relationships and the overall quality of our business. Result PDF