SBI Life Insurance Company Limited — Q2FY27 earnings call summary

Filed 03 November 2026 · Official transcript

Growth guidance for FY27 IRP at 14-15%; margin guidance VoNB 26-28%
Regulatory reforms expected to have limited impact; SBI Life well positioned
Agency channel growth expected to normalize; product mix shifting gradually from ULIP to non-ULIP
Individual rated new business premium INR97.2bn +12%, private market share 22.6%
Non-par savings and annuity products growing strongly; deferred annuity launch planned Q3FY27
Value of new business INR32.7bn +19%, VoNB margin 27.9%; embedded value INR873.5bn +15%
Hedging at 80% of premium; yield curve movement contributed 70bps margin expansion
New business premium INR202.6bn +10% y-y; profit after tax INR12.7bn +17% y-y