SBI Life revenue almost flat in This autumn, web premium earnings jumps to Rs 15,556 cr


SBI Life Insurance coverage Firm on Monday reported a flat web revenue at Rs 532 crore for the March 2021 quarter.

The life insurer had posted a web revenue of Rs 531 crore within the corresponding quarter of the earlier monetary yr 2019-20.

Complete earnings in January-March 2021 jumped multi-fold to Rs 20,897 crore, in contrast with Rs 5,675 crore in year-ago interval, SBI Life stated in a regulatory submitting.

Internet premium earnings jumped to Rs 15,556 crore, from Rs 11,863 crore a yr in the past.

For full yr, the corporate’s web revenue rose 2 per cent to Rs 1,456 crore in 2020-21, towards Rs 1,422 crore in 2019-20.

Earnings in the course of the yr soared to Rs 82,085 crore, from Rs 43,843 crore a yr earlier.

Internet premium earnings within the fiscal rose to Rs 49,768 crore as towards Rs 40,324 crore, whereas the only premium earnings elevated to Rs 10,286 crore from Rs 6,764 crore.

The corporate’s new enterprise premium in 2020-21 rose to Rs 20,624 crore, up by 24 per cent as towards Rs 16,592 crore. Single premium has elevated by 52 per cent over the corresponding yr, the insurer stated.

Worth of recent enterprise registered 16 per cent progress in FY21 to Rs 2,334 crore.

The corporate stated its gross written premium has crossed the Rs 50,000 crore (Rs 500 billion) mark.

“The rise in gross written premium is principally attributable to robust progress in renewal premium by 23 per cent to Rs 29,630 crore in FY2021 from Rs 24,040 crore in FY20,” it stated.

The property below administration confirmed an increase of 38 per cent to Rs 2,20,871 crore as of March 31, 2021.

SBI Life stated it has declared an interim dividend of Rs 2.5 per share with a robust solvency ratio of two.15.

Shares of SBI Life on Monday closed 3.36 per cent larger at Rs 959.45 apiece on the BSE.

(Solely the headline and film of this report might have been reworked by the Enterprise Commonplace employees; the remainder of the content material is auto-generated from a syndicated feed.)

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