SBI Life Q2 Results: Net Profit Drops To Rs 495 Cr; AUM Grew By 10%

The Board of Directors of SBI Life Insurance Company Limited approved and adopted its audited financial results for the quarter and half year ended September 30, 2025.
The Q2 net profit of SBI Life Insurance dropped 6.6% YoY to Rs 494.6 crore. In the fiscal second quarter, the life insurer's net premium income increased by 22.6 percent YoY to around Rs 24,848.3 crore.

Key financial measures showed robust growth for the corporation in the first half (H1) of FY2026. In H1 FY2025, the Gross Written Premium (GWP) was Rs 35,990 crore, up 19% to Rs 42,900 crore. While the Renewal Premium (RP) increased significantly by 21% to Rs 24,550 crore, the New Business Premium (NBP) climbed 17% YoY to Rs 18,350 crore. The Annualized Premium Equivalent (APE) rose by 10%, from Rs 9,030 crore to Rs 9,920 crore. At Rs 8,680 crore, the Individual Rated Premium (IRP) went up by 7%.

Regarding profitability, the Profit After Tax (PAT) climbed by 4% to Rs 1,090 crore in H1 FY 2026 from Rs 1,050 crore in H1 FY 2025. The assets under management (AuM) climbed by 10% to Rs 4,81,460 crore, while the net worth increased by 13% to Rs 18,290 crore. The Value of New Business (VoNB) climbed 14% to Rs 2,750 crore, while the Indian Embedded Value (IEV) surged 15% to Rs 76,000 crore. The company's healthy product mix of 5% participating, 38% non-participating, and 57% ULIP business allowed it to retain a steady private market share of 22.6% based on IRP.

Amit Jhingran, MD & CEO of SBI Life said, "We welcome the Indian Government's GST reforms, a key step toward insurance coverage for all by 2047, improving affordability and accessibility. These reforms will drive broader adoption, financial security and sustainable sector growth."

"Q2 FY26 saw growth along with strategic product mix shifts and strong performance in Individual and group protection segments. Individual New Business Premiums gained momentum, shifting towards guaranteed nonpar savings and protection solutions. 13th month persistency improved, reflecting strong customer relationships. Distribution channels including agency, bancassurance, brokers and digital platforms expanded market reach. We remain committed to customer trust, product innovation and disciplined execution for sustained growth and long-term value creation," he added.

With 1,154 offices, 28,534 employees, a vast and effective network of roughly 268,792 agents, 73 corporate agents, 9 bancassurance partners with over 40,000 partner branches, 149 brokers, and other insurance marketing firms, SBI Life aims to make insurance accessible to everyone. The company operates with 1,154 offices nationwide and has a robust distribution network of 343,543 skilled insurance professionals, including agents, CIFs, and SPs.