look news india
SBI Life Insurance Q4 Results: SBI Life Insurance has released its results for the March quarter of FY24 on Friday, April 26. The company said its net profit rose 4 percent to Rs 810 crore in the March quarter from Rs 777 crore in the year-ago quarter. The insurance company's net premium income rose to Rs 25,116 crore in the March quarter from Rs 19,896 crore in the year-ago quarter. While its solvency ratio stood at 1.96 percent, it was 2.15 percent in the first quarter a year ago.
SBI Life Insurance said its premium equivalent grew to Rs 19,720 crore on an annual basis for the full fiscal year 2024, up 17 per cent from the same quarter last year. While its new business value grew 9 per cent to Rs 55.5 billion in the full financial year, its new business value margin stood at 28.1 per cent, down from 31.7 per cent in the year-ago quarter.
The company said its total assets under management rose 27 per cent to Rs 3.88 lakh crore at the end of the March quarter, from Rs 3.07 lakh crore in the year-ago quarter.
declaration of dividend
SBI Life Insurance said its board has recommended a dividend of Rs 2.7 per share to shareholders for financial year 2024.
Meanwhile, on Friday, shares of SBI Life Insurance closed at Rs 1418.90 on NSE with a decline of 2.11 per cent. So far in the year 2024, the company's shares have declined by 1.26 percent. However, its share price has increased by 24.36 percent in the last one year.