SBI Life Insurance Reports 71.2% Profit Surge

SBI Life Insurance Co. reported a net profit of ₹550.82 crore for the October-December quarter of the financial year 2024-25, marking a remarkable 71.2% increase from ₹321.75 crore in the same period last year. The company's net premium income also saw significant growth, climbing 11% to ₹24,828 crore compared to ₹22,316 crore a year ago. Additionally, first-year premium income surged by 13.6% year-on-year to ₹6,450.84 crore, reflecting strong demand for life insurance products. This robust performance led to a 2.7% rise in the stock price post-earnings announcement. The increase in profit and premium income underscores SBI Life's strong market position and effective distribution strategies. Overall, the results highlight the insurer's resilience and growth in a competitive sector.