SBI Life Insurance has registered a New Business Premium of Rs. 21,512 crores for the period ended on 31st December, 2022 vis-a-vis Rs. 18,791 crores for the period ended December 31, 2021. Regular premium has increased by 22% over the corresponding period ended on 31st December, 2021.
Establishing a clear focus on protection, SBI Life’s protection new business premium stood at Rs. 2,545 crores for the period ended December 31, 2022 marking a growth of 25%. Protection Individual new business premium registered a growth of 12%. Individual New Business Premium stands at Rs. 15,242 crores with 31% growth over the corresponding period ended 31st December, 2021.
SBI Life’s profit after tax stands at Rs. 944 crores for the period ended December 31, 2022. The company’s solvency ratio continues to remain robust at 2.25 as on December 31, 2022 as against the regulatory requirement of 1.50.
