SBI Life Q1 Results: PAT jumps 14% YoY to Rs 594 crore, net premium income also up 14%

SBI Life Insurance Company on Thursday reported a 14% year-on-year (YoY) growth in its Q1FY26 net profit, which rose to Rs 594 crore, up from Rs 520 crore in the year-ago period.

The company’s net premium income stood at Rs 17,178 crore, up 14% from Rs 15,105 crore reported in the corresponding quarter of the previous financial year.

The profit after tax (PAT) fell 27% sequentially, compared to Rs 814 crore reported by the SBI subsidiary in Q4FY25, while net premium income declined 28% from Rs 23,861 crore reported in the January–March quarter of FY25.


SBI Life's first-year premium was reported at Rs 3,539 crore in the quarter under review, down from Rs 4,859 crore in Q4FY25, but up from Rs 3,146 crore in Q1FY25.

The renewal premium in Q1FY26 stood at Rs 10,546 crore, reflecting a sharp sequential decline of 28%, while registering 23% year-on-year growth. The state-run life insurer had reported a renewal premium of Rs 14,680 crore in Q4FY25 and Rs 8,539 crore in Q1FY25.

Its single premium stood at Rs 3,728 crore, compared with Rs 4,463 crore in Q4FY25 and Rs 3,887 crore in Q1FY25.

Key takeaways

- New Business Premium (NBP) stood at Rs 7,270 crore versus Rs 7,030 crore in Q1FY25, gaining 3%
- Gross Written Premium (GWP) stood at Rs 17,810 crore in the quarter under review, up 14% over Rs 15,570 crore in the year ago period
- Assets under management (AUM) stands at Rs 4.8 lakh crore, recording a 15% YoY growth
- The Net Worth stood at Rs 17,830 crore versus Rs 15,570 crore, a 15% uptick
- Indian Embedded value (IEV) stands at Rs 74,260 crore with growth of 20% YoY
- Annualised Premium Equivalent (APE) stood at Rs 3,970 crore with growth of 9% YoY
- Improvement in 13M & 61M persistency by 58 bps & 501 bps respectively
- Value of New Business (VoNB) stood at Rs 1,090 crore with growth of 12% YoY
- VoNB Margin stands at 27.4%
- Robust Solvency ratio of 1.96