SBI Life Insurance reported a mixed performance wherein premium accretion was healthy but higher actuarial liability offset investment income, led to lower than expected surplus and earnings. AUM growth accelerated 28% YoY to | 209500 crore. Shareholders and policyholders (excluding linked liabilities) assets witnessed healthy growth at ~24% and ~21% YoY, respectively. Recovery in equity market and decline in yields led to strong investment income at | 12777 crore (up 213% YoY) in Q3FY21, supporting total revenue trajectory. Commission expenses...