SBI Life Insurance Company Ltd.Strong Growth Amid Regulatory Headwinds

SBI Life Insurance delivered robust performance in Q3 FY26 despite regulatory challenges, with New Business Premium growing nineteen percent year-on-year to Rs 313.3 billion and capturing a 23.5 percent private market share.

The company's Value of New Business expanded seventeen percent to Rs 50.4 billion, while the VNB margin stood at 27.2 percent, within the guidance range of 26-28 percent. Excluding GST and labor law impacts totaling Rs 4.8 billion, profit after tax would have grown thirty-four percent to Rs 21.5 billion, demonstrating strong underlying operational performance. Assets Under Management crossed the Rs 5 trillion milestone with sixteen percent year-on-year growth.

Management maintained FY26 APE growth guidance of 13-14 percent with positive bias, currently tracking at sixteen percent for nine months. The protection segment recorded exceptional twenty-four percent APE growth with pure protection surging ninety-eight percent, reflecting strategic emphasis on comprehensive financial protection. Management assured FY27 growth will not fall below current levels while positioning as the industry's lowest cost operator.