SBI Life Insurance Posts 1% YoY Decline in Net Profit to ₹804 Crore, Premium Income Rises 16%

SBI Life Insurance Reports 1% Decline in Net Profit for Q4 FY26

SBI Life Insurance Company released its March quarter results for FY26 after-market hours on Wednesday, 22 April, revealing a 1% year-on-year decline in net profit to ₹804 crore in Q4 FY26. In the same period last year, the company had posted a net profit of ₹814 crore. The decrease in profit was primarily attributed to higher commissions and a rise in operating expenses, which outweighed growth in renewal premiums.

The company's net premium income rose 16% YoY to ₹27,684 crore, driven by renewal premiums, which increased to ₹440.33 crore from ₹370.83 crore. One-time premiums rose 37%, while first-year premiums from new policies grew a modest 5%. Net commissions increased 10% YoY to ₹859.11 crore, pushing the company's overall operating expenses to ₹1,668.25 crore, up 35% from ₹1,238.34 crore.

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For the full year, the company reported a net profit of ₹2,470 crore, marking a marginal 2% increase from ₹2,410 crore. Annualised Premium Equivalent (APE) stood at ₹24,270 crore, registering a growth of 13%. Individual new business sum assured stood at ₹4,46,300 crore, reflecting a growth of 61%. Value of new business (VoNB) came in at ₹6,670 crore, up 12% year-on-year, while the VoNB margin stood at 27.5%.

SBI Life Insurance Company has been performing well in terms of share price, with its shares delivering strong returns. The company's shares have been rising steadily since the start of 2025, closing most of the subsequent months in the green and, along the way, touching a new peak of ₹2,132 apiece. Between December 2024 and February 2025, the stock witnessed a near one-way rally, surging from ₹1,390 to ₹2,037, delivering a 45.6% gain. However, broader market weakness in March dragged the stock down by 13%. Despite this, the stock still holds a one-year return of 16%. Over a five-year period, it has delivered a multibagger return of 110%.