India Business News: NEW DELHI: SBI Life Insurance on Friday reported 4 per cent rise in net profit at Rs 811 crore for the fourth quarter ended March 2024 as value of new.
The refund, which is likely to boost the bottom line of the corporation in the fourth quarter, is related to interim bonuses to policyholders in the past seven assessment years.
SBI Life’s stock has lagged the broad market and a key reason behind this is the expectation that business growth rates this year won’t match that of the last one. The indications are already visible
But whether investors will bite depends on how the life insurer performs in the coming quarters. The stock trades at an embedded value multiple that is lower than peers such as HDFC Life and SBI Life Insurance, who are scheduled to release their Q1 results shortly.
SBI Life Insurance, one of the leading life insurers in the country 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.