SBI Life Insurance reported a net profit of ₹532.38 crore in the fourth quarter of financial year 2020-21, almost the same as its net profit at ₹530.67 crore reported during the same period of financial year 2019-20.
Its net profit increased 2.36 per cent to ₹1,455.85 crore in FY21 as compared to ₹1,422.17 crore in FY20. For the quarter-ended March 31, 2021, its net premium income grew a robust 31.1 per cent to ₹15,555.74 crore as against ₹11,862.98 crore in the same period previous fiscal.
The private sector life insurer’s 13th month solvency ratio stood at 87.92 per cent as on March 31, 2021 as against 86.14 per cent for FY20. Solvency ratio was 2.15 as on March 31, 2021 versus 1.95 as on March 31, 2020.
“Assets under management has grown by 38 per cent from ₹1.6 lakh crore as on March 31, 2020 to ₹2.2 lakh crore as on March 31, 2021 with debt-equity mix of 73:27 and more than 90 per cent of the debt investments are in AAA and sovereign instruments,” it said in a statement on Monday.