SBI Life Insurance Q3 Results: Net profit surges over 71% to ₹550.82 crore

SBI Life Insurance Company declared its December quarter results for the financial year 2024-25 (Q3FY25) on Friday, January 17. It posted a net profit of ₹550.82 crore, up a massive 71.2 percent percent from ₹321.75 crore in the same period last year. Sequentially, it rose just 4 percent from ₹529.42 crore in the September quarter.

The company’s net premium income for Q3FY25 stood at ₹24,828 crore, an 11 percent rise from ₹22,316 crore in the corresponding quarter of the previous financial year. On a QoQ basis, its net premium income rose 22 percent from ₹20,266 crore reported insurer in Q2FY25. 

During Q3FY25, the renewal premium of the company reached ₹14,468 crore, marking a sequential growth of 23 percent from ₹11,721 crore in Q2FY25. Year-on-year (YoY), this reflects a 14 percent increase from ₹12,720 crore recorded in Q3FY24.

The single premium for the quarter stood at ₹4,079 crore, up from ₹3,776 crore in Q2FY25 and slightly higher than ₹4,062 crore reported in Q3FY24, showcasing steady demand in this segment.

9MFY25 Performance Highlights

For the nine months ending December 31, 2024, the company achieved a marginal 1 percent growth in New Business Premium (NBP), which stood at ₹26,260 crore, compared to ₹26,000 crore in the same period of the previous year. However, the renewal premiums witnessed a robust YoY increase of 15 percent, climbing to ₹34,730 crore from ₹30,190 crore in 9MFY24.

The Gross Written Premium (GWP) for 9MFY25 grew by 9 percent to ₹60,980 crore, driven by a notable 12 percent increase in New Business Regular Premium (RP) and sustained 15 percent growth in renewal premiums, as highlighted in the company’s regulatory filing.

Post the earnings announcement, the stock rose as much as 2.7 percent to its day high of ₹1555.55. It is now around 20 percent away from its peak of ₹1,935.00, hit in September 2024. Meanwhile, it has advanced 19 percent from its 52-week low of ₹1,307.00, recorded in June 2024.