SBI Life Reports 1.1% Decline in Q4 Net Profit, Premium Income Sees 16% Rise

SBI Life Insurance Reports Marginal Decline in Q4 Profit

SBI Life Insurance Company has reported a marginal decline in its March quarter profit, despite a significant increase in premium collections. The insurer's net profit for Q4 FY26 stood at Rs 804.6 crore, down 1.1 percent year-on-year from Rs 813.5 crore.

Key Financial Highlights

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Net premium income rose 16 percent on-year to Rs 27,683.8 crore, compared with Rs 23,860.7 crore in the same period last year, indicating healthy traction in business volumes. Sequentially, profit after tax surged to Rs 2,193.8 crore from Rs 427.3 crore in the December quarter, largely supported by a higher surplus of Rs 2,19,380 lakh in the policyholders' account during Q4.

The transfer to shareholders' account stood at Rs 2,36,362 lakh in Q4, sharply higher than Rs 26,922 lakh in the previous quarter, reflecting improved operating dynamics. On the balance sheet front, the solvency ratio edged lower to 190 percent from 191 percent a year ago, though it remained comfortably above the regulatory requirement.

On the operational front, gross premium income stood at Rs 27,683.8 crore in Q4 FY26, compared to Rs 30,245.3 crore in Q3 and Rs 23,860.7 crore a year ago, indicating some moderation sequentially. Investment income and actuarial adjustments continued to play a key role in earnings volatility, typical of the life insurance business.

Earnings per share (EPS) came in at Rs 8.02 for the quarter, compared to Rs 5.75 in Q3 and Rs 8.12 in Q4 FY25. Expense management ratio improved sequentially to 9.05 percent from 11.56 percent in Q3, reflecting better cost efficiency.

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For the full year FY26, SBI Life reported a profit after tax of Rupees 3,289.4 crore compared with Rupees 2,994.5 crore in FY25. Ahead of the results, SBI Life shares ended down 1.4 percent at Rs 1,885 on the NSE.