SBI Life registers Rs. 777-crore profit in Q4

SBI Life Insurance Company has declared a net profit of Rs 777 crore for the fourth quarter of the fiscal year 2022-23, which is 15 percent higher against Rs 672 crore clocked in the year-ago period.

The company’s net premium income during the quarter under review came in at Rs 19,897 crore, marking a surge of 14 percent compared to Rs 17,434 crore clocked in the corresponding period of the preceding financial year.

The gross written premium (GWP), another key metric to assess the insurance company’s fiscal health, jumped by 15 percent in the entire FY23 to Rs 67,320 crore.

The annualised premium equivalent (APE) in the fourth quarter came in at Rs 4,550 crore, which is 10 percent higher against Rs 4,130 crore in Q4FY22.