SBI Life Q1 results: Profit rises 22% YoY to Rs 720 crore on strong premium growth

SBI Life reported a 22% YoY rise in Q1 profit to Rs 720 crore, driven by 20% growth in gross written premium to Rs 21,290 crore and 36% growth in annualised premium equivalent to Rs 5,380 crore. Value of new business rose 29% YoY to Rs 1,410 crore, though VNB margin dipped to 26.2% from 27.4% due to business mix changes and GST impact. Assets under management grew 10% to Rs 5.25 lakh crore, with solvency ratio steady at 1.96 and 13th-month persistency improving to 87.7%.