LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

SBI Life Insurance Q3 net profit rises 21% to Rs 230 crore

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
SBI Life Insurance Q3 net profit rises 21% to Rs 230 crore
The company had registered a net profit of Rs 190.43 crore in the corresponding quarter of previous fiscal 2016-17. Image source: PTI
Updated: Tue, Jan 30, 2018
04:33 pm
PTI
RELATED NEWS
SBI Life Insurance Claims: Know these basic facts about policy claims, maturity SBI Life Insurance Claims: Know these basic facts about policy claims, maturity
SBI Life insurance: You can slash premium payment! here is your guide to calculate it SBI Life insurance: You can slash premium payment! here is your guide to calculate it
SBI Life Insurance: Know these 5 important things about medical tests to get this policy SBI Life Insurance: Know these 5 important things about medical tests to get this policy
SBI Life Insurance share price to soar 10 pct! Make money, do this, say experts SBI Life Insurance share price to soar 10 pct! Make money, do this, say experts
Free water in Mumbai! Public beats the heat with Bisleri water, courtesy SBI General Insurance Free water in Mumbai! Public beats the heat with Bisleri water, courtesy SBI General Insurance

SBI Life Insurance Company today reported 21 per cent rise in its net profit at Rs 230.28 crore for the third quarter ended December 2017 on healthy premium income.

The company had registered a net profit of Rs 190.43 crore in the corresponding quarter of previous fiscal 2016-17.

Total income of the life insurer increased to Rs 9,720 crore during the quarter against Rs 6,060 crore in the same period of the previous fiscal, SBI Life said in a regulatory filing.

The net premium income of the company grew nearly 30 per cent to Rs 6,780 crore in the October-December quarter of 2017-18, from Rs 5,240 crore earned in the same period of 2016-17.

SBI Life said the increase in net premium income was primarily due to increase in retail new business premium and also due to increase in renewal premium from retail business.

The assets under management (AUM) grew by 23 per cent to Rs 1,11,630 crore as on December 31, 2017, from Rs 90,720 crore on December 31, 2016.

Among other key parameters, the new business APE (annual premium equivalent) grew 41.9 per cent in the third quarter of this fiscal, individual rated premium rose 38.2 per cent, renewal premium grew 31.6 per cent and total premium increased 29.5 per cent.

"For the third quarter of 2017-18, private market share and total market share in terms of individual rated premium was 24.8 per cent and 14.3 per cent, respectively," SBI Life said.

Solvency ratio, which is the ratio of available solvency margin to the required solvency margin, stood at 2.06 per cent at the end of third quarter of the fiscal, against 2.09 per cent a year ago during the same period.

SBI Life is a joint venture between State Bank of India (SBI)and BNP Paribas Cardif SA, which has a widespread network of 814 branches across the country.

The company's stock was down 1.78 per cent at Rs 670.20 on BSE. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
SBI Life Insurancepremium incomesolvency marginBSEState Bank of India
RELATED NEWS
SBI Life Insurance Claims: Know these basic facts about policy claims, maturity SBI Life Insurance Claims: Know these basic facts about policy claims, maturity
SBI Life insurance: You can slash premium payment! here is your guide to calculate it SBI Life insurance: You can slash premium payment! here is your guide to calculate it
SBI Life Insurance: Know these 5 important things about medical tests to get this policy SBI Life Insurance: Know these 5 important things about medical tests to get this policy
SBI Life Insurance share price to soar 10 pct! Make money, do this, say experts SBI Life Insurance share price to soar 10 pct! Make money, do this, say experts
Free water in Mumbai! Public beats the heat with Bisleri water, courtesy SBI General Insurance Free water in Mumbai! Public beats the heat with Bisleri water, courtesy SBI General Insurance

LATEST NEWS

Oil drops on dollar strength and OPEC+ supply expectations

7th Pay Commission: CONFIRMED! 3% DA, DR hike for government employees, pensioners of THIS state from March 1

Sovereign Gold Bond Scheme 2021: Issue Price fixed at Rs 4,662/gm

7th Pay Commission Latest News: Check out these vacancies notified by UPSC; salary up to Rs 1,77,500 plus DA and other allowances

Gwyneth Paltrow: I gained a lot of weight over Covid

SoftBank reaches settlement with former WeWork CEO Neumann

Indian economy 2021: With 0.4% GDP growth in 3rd quarter, country out of technical recession

Covid 19 2nd phase vaccination drive from March 1: EXPLAINED! Who are eligible, required photo identity, advance self-registration—All you need to Know

PM Narendra Modi to inaugurate India Toy Fair today

Maharashtra board exams for Classes 12, 10 to begin on April 23, 29

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved