SBI Life Insurance Reports Strong Q1 FY27 Results; PAT Rises 22%, APE Grows 36%
SBI Life Insurance Company Limited has announced its financial results for the quarter ended June 30, 2026 (Q1 FY27), reporting robust growth across key financial and business metrics. The company delivered healthy increases in profitability, premium collections, and new business value, while maintaining its leadership position in India’s private life insurance sector.
During the quarter, Profit After Tax (PAT) grew 22% year-on-year (YoY) to ₹7.2 billion, compared with ₹5.9 billion in the corresponding quarter of the previous financial year.
Key Financial Highlights
SBI Life reported broad-based growth across its core performance indicators.
- Profit After Tax (PAT): ₹7.2 billion, up 22% YoY
- Annualized Premium Equivalent (APE): ₹53.8 billion, up 36% YoY
- Value of New Business (VNB): ₹14.1 billion, up 29% YoY
- VNB Margin: 26.2%
- New Business Premium (NBP): ₹89.1 billion, up 23% YoY
- Gross Written Premium (GWP): ₹212.9 billion, up 20% YoY
- Assets Under Management (AUM): ₹5.2 trillion, up 10% YoY
- Indian Embedded Value (IEV): ₹852.9 billion, up 15% YoY
The strong growth in APE and VNB reflects healthy customer demand and continued improvement in business quality.
Maintains Leadership in Private Life Insurance
SBI Life continued to strengthen its position among private life insurers during the quarter.
- Individual Rated Premium (IRP) Market Share: 22.2%
- Individual New Business Premium Market Share: 24.9%
These market share figures highlight the company’s strong distribution network and customer reach across India.
Balanced Product Portfolio
The insurer maintained a diversified product mix, enabling it to cater to different customer needs.
APE Product Mix
- Non-Participating Products: 49%
- Unit Linked Insurance Plans (ULIPs): 46%
- Participating Products: 5%
The company also witnessed sustained demand for protection solutions and guaranteed non-participating savings products, supporting overall business growth.
Strong Distribution Network
SBI Life’s growth continued to be supported by its diversified distribution channels.
APE Contribution by Channel
- Bancassurance: 47%
- Agency: 25%
- Other Distribution Channels: 28%
The balanced contribution across channels reflects the company’s broad distribution capabilities and customer acquisition strategy.
Persistency and Financial Strength Improve
The company continued to strengthen its operational quality through improved policy persistency.
- 13th-Month Persistency: 87.7%
- 49th-Month Persistency: 69.1%
SBI Life also maintained a strong capital position.
- Solvency Ratio: 1.96, comfortably above the regulatory requirement of 1.50
The healthy solvency ratio provides the company with adequate capital to support future business growth while meeting regulatory norms.