SBI Life reports 39% surge in Q2 profit to Rs 529 crore

SBI Life Insurance has posted an impressive 39% year-on-year (YoY) increase in consolidated net profit for the second quarter of FY25, reaching Rs 529 crore, up from Rs 380 crore in the same quarter last year. This growth highlights the company’s strong financial performance in a competitive insurance market.

Despite the profit surge, net premium income experienced a modest 1% rise, standing at ₹20,266 crore for the July-September 2024 period.

The first-year premium income saw a healthier 6% YoY growth, climbing to Rs 4,915 crore from Rs 4,633 crore last year. 

These results reflect SBI Life's consistent growth in the insurance sector, driven by strategic premium collection and strong customer retention.

(This is a developing story. Please stay tuned for more updates)