Life Insurance company SBI Life Insurance Company announced Q2FY25 results Financial Highlights: Private Market leadership in NBP of Rs 157.2 billion with 21.3% market share. Private Market leadership in Individual NBP of Rs 114.9 billion with 13% growth and 25.7% market share. Annualized Premium Equivalent (APE) stands at Rs 90.3 billion with growth of 9%. Agency Channel Annualized Premium Equivalent (APE) stands at Rs 28.2 billion with growth of 32%. Improvement in 25M & 61M persistency by 116 bps & 438 bps respectively . Value of New Business (VoNB) stands at Rs 24.2 billion. VoNB Margin stands at 26.8%. Profit After Tax (PAT) stands at Rs 10.5 billion with 38% growth. Solvency ratio of 2.04. Assets under Management stands at Rs 4.4 trillion with 27% growth. Operating Return on Embedded Value stands at 19.5% Cost Efficiency: Total Cost ratio for H1FY25 is 10.6% vis-à-vis 10.0% for H1FY24. Commission ratio for H1FY25 is 4.7% vis-à-vis 4.6% for H1FY24. Operating Expense ratio for H1FY25 is 5.8% vis-à-vis 5.4% in H1FY24 Profitability: Profit after Tax (PAT) grew by 38% to Rs 10.5 billion for H1FY25. VoNB increased by 2% to Rs 24.2 billion for H1FY25. VoNB margin stands at 26.8% in H1FY25 Persistency: Strong growth in 25th month and 61st month persistency (based on premium considering Regular Premium/ Limited Premium payment under individual category) in H1FY25 by 116 bps and 438 bps respectively due to our focus on improving the quality of business and customer retention. Assets under Management: AuM grew by 27% from Rs 3,451.5 billion as on Q2FY24 to Rs 4,389.5 billion as on Q2FY25 with debt-equity mix of 60:40. Over 95% of the debt investments are in AAA and Sovereign instruments. Financial position: The Company’s net worth increased by 16% from Rs 139.7 billion as on September 30, 2023 to Rs 162.6 billion as on September 30, 2024. Robust solvency ratio of 2.04 as on Q2FY25 as against the regulatory requirement of 1.50 indicating strong financial position of the Company. Other Highlights: The Company has maintained itsleadership position in Individual Rated Premium of Rs 81 billion with 22.7% private market share in H1FY25. Growth in Individual New Business Premium by 13% to Rs 114.9 billion in H1FY25. Protection New Business Premium stands at Rs 17.2 billion in H1FY25. Gross Written Premium (GWP) has grew by 7% to Rs 359.9 billion in H1FY25 mainly due to 11% growth in New Business Regular Premium (RP) and 16% growth in Renewal Premium (RP) in H1FY25. Distribution network: 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. 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 H1FY25 is bancassurance channel 59%, agency channel 31% & other channels 10%. Individual NBP of Agency channel has increased by 39% to Rs 33.1 billion in H1FY25 and Individual NBP of Other channel has increased by 28% to Rs 15.6 billion in H1FY25 as compared to same period last year. Result PDF