SBI Life net up 6% at Rs. 225 cr

SBI Life reported 6% growth in net profit at Rs. 225.47 as against Rs. 212.7 crore in the same period last year. Value of new business (VNB) margin, reflecting additional value to shareholders improved to 15.6 %. This ratio is a measure of the expected profitability of new business. The solvency ratio fell marginally to 2.09 from 2.14, whereas the regulatory requirement is 1.5. The expense ratio rose upto 12.67% from 11.86%. There has been noticed a jump of 10.8% in total protection business income and the renewal premium increased to 35.2%.