• SBI Life is one of the leading private life insurance companies offering a comprehensive range of savings and protection products.
• SBI Life delivered stable growth in 3Q FY20 with value of new business (VNBs) expanding at 20% YoY, driven by healthy trends in Annualized Premium Equivalent (APE) (+18% YoY) and inch up in new business margins to 18.3% (+80 bp YoY/20 bp QoQ).
• The market share gains (+50 bp) and margins have held up due to reprising in some of the annuity products during the quarter (+70 bp impact).
• Reported profits (+47% YoY) were boosted by surplus from large release of reserves in unit linked insurance plan (ULIPs) that matured in 3Q.
• Persistency experience continued to improve with healthy trends (up to 200 bp YoY).
Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.
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