SBI Life Insurance disclosed a 1% decrease in net profit for the fourth quarter of FY26, with a profit after tax of Rs 804.64 crore, down from Rs 813.5 crore in the same period last year. However, the net premium income surged by 16% year-on-year to around Rs 27,684 crore, showcasing robust business growth. The solvency ratio dropped to 190% from 196% compared to a year ago.
Net profit for the quarter saw a significant 40% increase from the previous quarter, reaching Rs 576.74 crore. The insurer’s gross premium income for Q4 FY26 was reported at Rs 27,683.8 crore, lower than Q3 figures but higher than the same period last year. Despite a slight decline in the solvency ratio to 190%, it remained comfortably above regulatory standards.
Moreover, operational metrics like persistency displayed positive trends across key segments. The transfer to shareholders’ account notably rose to Rs 2.36 lakh crore in Q4, reflecting enhanced operational efficiency. New business premium expanded by 20% to Rs 42,500 crore, while renewal premium increased by 19% to Rs 58,700 crore. The annualized premium equivalent (APE) also grew by 13% to Rs 24,270 crore.
Amit Jhingran, the Managing Director and CEO, highlighted the industry’s improved momentum in FY26, attributing it to regulatory changes and a shift towards protection-focused products. He noted that the GST exemption on individual policies had positively impacted affordability. SBI Life operates through 1,230 offices and a distribution network of 358,506 trained insurance professionals nationwide.
