SBI Life Insurance recorded a 22% year-on-year (YoY) increase in net profit for the first quarter of the 2026-27 financial year (Q1FY27) driven by strong growth in premium income, raising its profit to Rs.720 crore.

Net premium income rose by 16.88 percent year-on-year to Rs.20,078.2 crore. Meanwhile, the company's Annualized Premium Equivalent (APE) increased by 36 percent to Rs.5,380 crore. Investment income grew by 20.7 percent to Rs.25,977 crore.

The 'Value of New Business' (VNB)—a profitability metric for life insurance companies—rose by 29 percent year-on-year to Rs.1,410 crore. The VNB margin stood at 26.2 percent in Q1 FY27, compared to 27.4 percent in Q1 FY26.

During the same period, the company's expenses rose by 34 percent to Rs.2,565.02 crore, with net commission costs increasing by 18.3 percent to Rs.930 crore.

The company's 'solvency ratio' remained unchanged at 196 percent for the quarter compared to the same period last year.

Amit Jhingran, MD & CEO of SBI Life, stated, “SBI Life continued its growth trajectory from FY2026 into the first quarter of FY2027, delivering a 14 per cent increase in Individual Rated Premium, supported by a favourable shift in product mix. All product segments recorded growth on an Individual Rated Premium basis, and all key distribution channels achieved double-digit expansion. The increasing contribution from protection solutions and guaranteed non-par savings products reflects evolving customer preferences and our strategic focus.”