SBI Life Insurance Q4 Results: Net profit slips 1% YoY to ₹804 crore; premium income up 16%
SBI Life Insurance reported a 1% decline in net profit for Q4 FY26, totaling ₹804 crore, down from ₹814 crore last year. Net premium income increased by 16% year-on-year to ₹27,684 crore.
SBI Life Insurance Company announced its March quarter results for FY26 after-market hours on Wednesday, 22 April, reporting a 1% year-on-year decline in net profit to ₹804 crore in Q4 FY26.
In the same period last year, the company had posted a net profit of ₹814 crore.
Profit was impacted by higher commissions and a rise in operating expenses, which outweighed growth in renewal premiums.
The company’s net premium income rose 16% YoY to ₹27,684 crore. The growth was driven by renewal premiums, which increased to ₹440.33 crore from ₹370.83 crore. One-time premiums rose 37%, while first-year premiums from new policies grew a modest 5%.
Net commissions increased 10% YoY to ₹859.11 crore, pushing the company’s overall operating expenses to ₹1,668.25 crore, up 35% from ₹1,238.34 crore. The company's New Business Premium came in at ₹11,220 crore in March quarter, as per the company's earnings' filing.
For the full year, the company reported a net profit of ₹2,470 crore, marking a marginal 2% increase from ₹2,410 crore. Annualised Premium Equivalent (APE) stood at ₹24,270 crore, registering a growth of 13%.
Individual new business sum assured stood at ₹4,46,300 crore, reflecting a growth of 61%. Value of new business (VoNB) came in at ₹6,670 crore, up 12% year-on-year, while the VoNB margin stood at 27.5%.
Amit Jhingran, MD & CEO of SBI Life, said, “The company's product mix reflected evolving customer preferences, with balanced contributions from ULIPs, participating and non-participating savings products, while the Par and retail protection segments recorded strong year-on-year premium growth. The company reported stable Value of New Business (VNB) margins along with steady VNB growth during FY26.”
SBI Life Insurance Company shares deliver strong returns
The company’s shares have been rising steadily since the start of 2025, closing most of the subsequent months in the green and, along the way, touching a new peak of ₹2,132 apiece. Between December 2024 and February 2025, the stock witnessed a near one-way rally, surging from ₹1,390 to ₹2,037, delivering a 45.6% gain.
However, broader market weakness in March dragged the stock down by 13%. Despite this, the stock still holds a one-year return of 16%. Over a five-year period, it has delivered a multibagger return of 110%.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
About the Author
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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