Latest news with #AmitJhingran
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Business Standard
27-04-2025
- Business
- Business Standard
Shift in product mix will continue in FY26: SBI Life Insurance MD & CEO
An ideal product mix depends on what are the strengths of the company and how they cater the needs of the customers, says Jhingran Mumbai Listen to This Article Amit Jhingran, managing director (MD) and chief executive officer (CEO), SBI Life Insurance, spoke about the reducing dependence on unit-linked insurance plans (Ulips) and growth strategy for the current financial year, in an interview with Aathira Varier in Mumbai. Edited excerpts: Why was premium income growth muted in FY25? The company grew around 13 per cent on an individual annual premium equivalent (APE) basis. Total APE was somewhat muted because of lower contribution from the group fund. We consciously did not go looking for it as we found the rates being offered in the industry to be margin negative for
Business Upturn
24-04-2025
- Business
- Business Upturn
SBI Life Q4 FY25 Results: APE jumps 9% to Rs 21,420 crore, VoNB Margin stands at 27.8%
SBI Life Insurance has reported a solid performance for the financial year ended March 31, 2025, with the company showcasing resilience and profitability across key growth indicators. The Annualized Premium Equivalent (APE) grew 9% year-on-year to ₹214.2 billion, up from ₹197.2 billion in FY24, reflecting stronger momentum in its retail premium segments. The company's Value of New Business (VoNB) rose 7% to ₹59.5 billion for FY25, compared to ₹55.5 billion in the previous year. Despite a slight dip from 28.1% in FY24, SBI Life maintained a healthy VoNB margin of 27.8% this year, continuing to demonstrate robust profitability from its new business operations. Notably, individual new business sum assured also surged 43% to ₹2,769 billion, signaling aggressive growth in coverage expansion. Key Highlights: APE: ₹214.2 billion (+9% YoY) VoNB: ₹59.5 billion (+7% YoY) VoNB Margin: 27.8% PAT: ₹24.1 billion (+27% YoY) IEV: ₹702.5 billion (+21% YoY) AuM: ₹4.48 trillion (+15% YoY) 13th Month Persistency: 87.4% 61st Month Persistency: 62.7% Solvency Ratio: 1.96 RoE: 15.1% Additionally, SBI Life reported a 27% growth in profit after tax (PAT), which stood at ₹24.1 billion for the year, while its Indian Embedded Value (IEV) grew by 21% year-on-year to ₹702.5 billion. The company's solvency ratio remained strong at 1.96, well above regulatory requirements. Amit Jhingran, MD & CEO of SBI Life stated: FY25 was an exceptional year on every front. Standing at the intersection of regulatory changes, evolving customer needs and digital acceleration, we responded with resilience and conviction. Our team exhibited exceptional agility in adapting to customer needs, innovated boldly to reshape experiences and scaled efficiently to make the benefit of life insurance available to every Indian. I am delighted to share that with a 12% growth in Individual Rated Premium, SBI Life outperformed industry growth of 10.5%. This speaks volumes about the strength and dedication of our teamwork, the trust that customers place in us and the excellence with which we execute our strategy. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
