SBI Life Insurance H1 FY27 Results: Profit Rises 17% To ₹1,270 Crore As Premium Income Grows By 13%

SBI Life Insurance Company reported a 17% year-on-year (YoY) increase in profit after tax (PAT) to ₹1,270 crore for the half-year ended 30 September 2026. Gross written premium (GWP) rose 13% to ₹48,400 crore, supported by growth in both new business and renewal premiums.

The SBI Life Insurance H1 results release that was issued by the company highlighted continued growth in premiums, business value and assets under management (AUM).

The SBI Life Insurance share price closed at ₹1,633 on 27 October 2026 on the National Stock Exchange (NSE).

How Did Premium Income And New Business Perform?

New business premium increased 10% to ₹20,260 crore, compared with ₹18,350 crore in the corresponding period last year. Renewal premium grew faster, rising 15% to ₹28,150 crore from ₹24,550 crore. Together, these helped lift total GWP from ₹42,900 crore to ₹48,400 crore.

Annualised premium equivalent (APE), a measure of new business sales, increased 18% to ₹11,750 crore. Individual new business premium rose 13% to ₹13,730 crore, while individual rated premium climbed 12% to ₹9,720 crore.

SBI Life reported a 22.6% private-market share in individual rated premium. Its share in individual new business premium stood at 25.2%, according to the release.

What Do Profitability And Business Value Figures Show?

Value of new business (VNB), which estimates the future profits expected from new policies, increased 19% to ₹3,270 crore from ₹2,750 crore. The new business margin edged up to 27.9% from 27.8%, indicating broadly stable margins despite business growth.

Indian embedded value (IEV) rose 15% to ₹87,350 crore from ₹76,000 crore. Return on equity improved to 12.9% from 12.3%.

However, the total cost ratio increased to 11.7% from 10.9%. The operating expense ratio rose to 6.9% from 6.2%, while the commission ratio moved up to 4.8% from 4.7%. These increases are important to track alongside premium growth.

What Did Management Say?

Managing Director and Chief Executive Officer Amit Jhingran said the company remained focused on sustainable growth, distribution expansion, greater insurance penetration and protection-led offerings. He also highlighted customer-centric solutions, profitability and long-term value creation.

AUM reached ₹5.27 lakh crore, up 9% from ₹4.81 lakh crore. The company said approximately 94% of its debt investments were in AAA-rated and sovereign instruments. Net worth rose 12% to ₹20,530 crore, and the solvency ratio stood at 1.97, above the regulatory requirement of 1.50.

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