The company’s net premium income for Q3FY25 stood at Rs 24,828 crore, an 11% rise from Rs 22,316 crore in the corresponding quarter of the previous financial year.
The earnings were announced during market hours, leading to a 2.4% surge in SBI Life shares, which reached day’s high of Rs 1,550.95 on NSE following the announcement.
On a sequential basis, profit after tax (PAT) saw a 4% increase compared to Rs 529 crore reported in Q2FY25.
Meanwhile, net premium income rose by 22%, up from Rs 20,266 crore reported by the state life insurer in the July-September quarter.
9MFY25 stats
The company’s new business premium (NBP) saw a marginal uptick of 1% in the nine months ended December 31, 2024, at Rs 26,260 crore, compared to Rs 26,000 crore reported in 9MFY24. Meanwhile, renewal premiums jumped 15% YoY to Rs 34,730 crore, up from Rs 30,190 crore in the corresponding period of the previous financial year.The company’s Gross Written Premium (GWP) grew by 9% to Rs 60,980 crore in 9M FY25, primarily driven by a 12% growth in New Business Regular Premium (RP) and a 15% growth in renewal premiums, as per the company’s filing.