SBI Life Q1 Results: SBI Life Insurance Company announced a 14% increase in its net profit for Q1FY26 compared to the same quarter last year, with profits rising to ₹594 crore from ₹520 crore previously.
The company’s net premium revenue reached ₹17,178 crore, reflecting a 14% increase from ₹15,105 crore for the same quarter in the prior financial year.
However, the profit after tax (PAT) dropped by 27% on a sequential basis, down from ₹814 crore reported in Q4FY25, while net premium income decreased by 28% from ₹23,861 crore in the January–March quarter of FY25.
In Q1FY26, the renewal premium was ₹10,546 crore, showing a significant sequential decrease of 28% but a year-on-year increase of 23%.
The first-year premium was approximately ₹35,390 crore, which is a decrease from ₹48,590 crore in Q4 but an increase from ₹31,460 crore a year prior.
The renewal premium reached around ₹1.05 lakh crore for the quarter. The company anticipates that renewals will continue to be a significant contributor to growth in the upcoming quarters.
“In Q1 FY 2026, the Company is able to achieve favourable shift in our product mix towards protection solutions and guaranteed non-par savings, reflecting evolving customer preferences and our strategic focus. There has been remarkable growth in New Business Sum Assured mainly due to growing awareness of customer towards financial security and fulling dreams of their loved ones.
The growth in renewal premium along with improvement in our 13th and 61st month persistency ratios reflects strengthening of our customer relationships and the overall quality of our business,” said Amit Jhingran, MD & CEO of SBI Life.
