InvestorQ : How were the quarterly results of SBI Life for the Sep-20 quarter?
swati Bakhda made post

How were the quarterly results of SBI Life for the Sep-20 quarter?

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Sam Eswaran answered.
1 month ago
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SBI Life Insurance reported doubling of net profits at Rs.300 crore for the second quarter ended 30 September, 2020. In the comparable Sep-20 quarter, SBI Life had posted Rs.130 crore profit. Total income was up 45% at Rs.18,458 crore in the Sep-20 quarter on a consolidated basis.

For the quarter, SBI Life reported net premium income higher by 22% at Rs.12,858 crore, while the AUM grew to Rs.186,360 crore. If you look at the portfolio of SBI Life, nearly 90% of the debt investments are in AAA and sovereign instruments. The impact of COVID on the operations has been limited and that is the good news.

However, as a measure of abundant caution, SBI Life has set aside Rs.64.76 crore for any potential losses arising from COVID-19, apart from the policy level liabilities. SBI has emerged as the most dominant private life insurance player in India.

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