SBI Life Insurance Company (SBILIFE) Q3 25/26 earnings summary

Executive summary

• Achieved assets under management (AUM) of ₹5,117 billion, up 16% year-over-year, reflecting strong customer confidence and disciplined execution.

• Gross premium income for the nine months ended December 31, 2025, rose to ₹72,27,213 lakh, with robust growth in first year, renewal, and single premiums.

• Outperformed industry on individual rated premium (IRP) and total rated premium, reinforcing market leadership in private life insurance.

• Leveraged a diversified distribution network, technological innovation, and customer-centric initiatives to drive performance.

• Profit after tax grew 4% to ₹16.7 billion for 9M FY26.

Financial highlights

• Gross written premium rose 20% year-over-year to ₹733.5 billion.

• Value of new business (VONB) increased 17% to ₹50.4 billion, with a margin of 27.2%.

• Embedded value as of December 31, 2025, stood at ₹801.3 billion, up 18% year-over-year.

• Renewal premium grew 21% to ₹420.2 billion, accounting for 57% of gross written premium.

• Net premium income for Q3 FY25 was ₹30,24,532 lakh, up from ₹24,82,754 lakh in Q3 FY24.

Outlook and guidance

• Maintains full-year APE growth guidance of 13%-14%.

• VONB margin guidance remains at 27%-28% for the coming quarter.

• Expects GST impact on margins to be largely offset by product mix, with net impact of 30-40 basis points by year-end.

• Positioned for steady growth, supported by strong brand, governance, and a focus on sustainable value accretion.

• The company continues to monitor regulatory changes, including new Labour Codes and the transfer of Sahara India Life Insurance business.