InvestorQ : How do you see the SBI Life results for this quarter and what led the rally in life insurance stocks including HDFC Life and ICICI Pru?
Chandralekha Desai made post

How do you see the SBI Life results for this quarter and what led the rally in life insurance stocks including HDFC Life and ICICI Pru?

Answer
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Mitali Bhutta answered.
4 months ago


SBI Life reported an 8% growth in pre-tax profit for March 2020 quarter to Rs.522 crore. Net profits jumped 16% to Rs.531 crore in the midst of a tough quarter on account of lower tax provision. SBI Life booked losses in its investment portfolio to the tune of Rs.6677 crore in the current quarter. Annualised premium equivalent or APE (a common sales measure for life insurers) declined by about 13% to Rs.2690 crore. Most life insurers were up in the last few days as it is being anticipated that the COVID-19 is likely to result in a surge in people taking life policies due to the higher perceived risks.