SBI Life Insurance Company (SBILIFE) Q4 25/26 earnings summary

Executive summary

• Delivered robust growth across key financial and operational metrics, supported by a balanced product and distribution mix, technological innovation, and customer-centric initiatives.

• Maintained leadership in individual rated premium and private market share, with embedded value and value of new business expanding.

• Gross premium income for FY26 rose to ₹1,12,96,588 lakh, driven by growth in first year, renewal, and single premiums.

Financial highlights

• Gross written premium grew 19% year-over-year to ₹1,012.9 billion; new business premium up 20% to ₹425.5 billion; private market share at 21.4%.

• Profit after tax rose 2% to ₹24.7 billion; excluding GST and labor law impacts, PAT would have grown 29% to ₹31.2 billion.

• Value of new business increased 12% to ₹66.7 billion; VNB margin at 27.5%; embedded value as of March 31, 2026, at ₹807.9 billion, up 15%.

• Assets under management reached ₹4.9 trillion, up 9%; total assets increased to ₹4,92,05,337 lakh.

• Interim dividend of ₹2.70 per share declared for FY26.

Outlook and guidance

• Targeting 14% annualized premium equivalent (APE) growth, with VNB margin expected to remain in the 26%-28% range.

• Continued investment in agency and emerging business channels, digitalization, and product innovation to drive long-term growth.

• Embedded value and new business value reviewed by Willis Towers Watson, confirming compliance with actuarial standards.