Mumbai, April 22 SBI Life Insurance on Wednesday reported a marginal 1 per cent decline in its net profit for the fourth quarter of FY26, even as premium income showed strong growth.
During the quarter, the insurer’s profit after tax (PAT) stood at Rs 804.64 crore, compared with Rs 813.5 crore in the same quarter last year.
On a quarter-on-quarter basis, net profit jumped by about 40 per cent from Rs 576.74 crore in the third quarter of the fiscal.
Moreover, net premium income rose 16 per cent year-on-year to about Rs 27,684 crore, against Rs 23,860 crore in the corresponding period last year, indicating healthy business momentum.
However, the solvency ratio decreased to 190 per cent from 196 per cent a year ago.
On operational metrics, persistency showed improvement across key buckets.
The transfer to shareholders’ account also rose significantly to Rs 2.36 lakh crore in Q4, from Rs 1.94 lakh crore in the previous quarter, reflecting improved operating performance.
Gross premium income for Q4 FY26 stood at Rs 27,683.8 crore, lower than Rs 30,245.3 crore in Q3 but higher than Rs 23,860.7 crore in the year-ago period, suggesting some sequential moderation.
The solvency ratio edged down marginally to 190 per cent from 191 per cent a year earlier, though it remained well above regulatory requirements.
Moreover, new business premium grew by 20 per cent to Rs 42,500 crore, while renewal premium rose 19 per cent to Rs 58,700 crore.
In addition, the annualised premium equivalent (APE) expanded 13 per cent to Rs 24,270 crore.
Amit Jhingran, Managing Director and Chief Executive Officer, said the life insurance industry witnessed improved momentum during FY26, supported by recent regulatory measures and a shift in customer preference towards protection-oriented products.
He added that the exemption of GST on individual policies enhanced affordability during the year.
In terms of network, SBI Life operates through 1,230 offices and a distribution force of 358,506 trained insurance professionals across the country.
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