SBI Life Insurance Company (SBILIFE) Q1 26/27 earnings summary

Executive summary

• Delivered strong growth in Q1 FY27, with a 14% increase in individual rated premium, 23% growth in new business premium, and 22% rise in profit after tax, supported by a resilient business model and robust governance.

• All product segments and key distribution channels achieved double-digit expansion, with a notable shift toward protection and guaranteed non-par saving products, and strong digital adoption with 99.9% of business sourced digitally.

• Embedded value as of June 30, 2026, was ₹85,290 crore, with value of new business at ₹1,410 crore and a margin of 26.2%.

• Assets under management reached ₹5.2 trillion, up 10% year-over-year, and total assets were ₹5.26 lakh crore.

• Focused on customer centricity, technological innovation, and sustainable value accretion.

Financial highlights

• Gross written premium for Q1 FY27 was ₹212.9 billion, up 20% year-over-year; new business premium was ₹89.1 billion, up 23%.

• Profit after tax for Q1 FY27 reached ₹7.2 billion, a 22% increase year-over-year.

• Value of New Business for Q1 FY27 stood at ₹14.1 billion, up 29% year-over-year, with a margin of 26.2%.

• Renewal premium for Q1 FY27 was ₹123.8 billion, up 17% year-over-year, accounting for 58% of gross written premium.

• Embedded Value reached ₹852.9 billion as of June 30, 2026, up 15% year-over-year.

Outlook and guidance

• Growth projections for individual rated premium remain at 14%-15% for the year, with margin guidance maintained at 26%-28%.

• Positioned to benefit from India's demographic tailwinds, rising insurance penetration, and increasing demand for annuity and protection products.

• Continued focus on digital transformation, operational efficiency, and customer engagement to drive future growth.

• The company received a one-year forbearance from IRDAI for Ind AS implementation, deferring adoption to FY28.

• Continued focus on profitable and sustainable growth, leveraging both agency and bancassurance channels.