Strong parentage led distribution remains key catalyst Q2FY26 performance: SBI Life reported a steady Q2FY26 performance, with APE growth of 10% YoY, driven by strong traction in non-par savings (20% of APE) and protection business (33% YoY), while ULIP maintained a balanced 55% share. Bancassurance remained the key growth driver with a 57% APE contribution, supported by healthy productivity in SBI and RRB channels, whereas agency momentum revived in September aided by 64,000 new agent addition and higher non-par share. VNB margin improved to 27.8% (vs 26.8% YoY) despite 80 bps GST...