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

Executive summary

• Achieved assets under management (AUM) of INR 5.1 trillion, up 16% year-over-year, reflecting strong customer confidence and disciplined execution.

• Achieved robust growth across key financial and operational metrics for the nine months ended FY26, maintaining a resilient business model and consistent returns.

• Outperformed industry on individual rated premium (IRP) and total rated premium basis, reinforcing market leadership.

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

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

Financial highlights

• Gross written premium rose 20% year-over-year to INR 733.5 billion for 9M FY26.

• New business premium reached INR 313.3 billion, up 19% year-over-year, with a private market share of 23.5%.

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

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

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

Outlook and guidance

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

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

• Expects continued strong growth in protection and par products, with ongoing product launches.

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

• Industry tailwinds such as demographic shifts, rising insurance penetration, and increasing annuity demand expected to drive future growth.