SBI Life Insurance Q4FY22 and Year Ended result : AUM grew by 21% to ₹2 trillion; Profit up by 26.25% YoY

The Company’s net worth increased by 12% from ₹104 billion as on March 31, 2022 to ₹116.2 billion as on March 31, 2022. Strong solvency ratio as on March 31, 2022 of 2.05 as against the regulatory requirement of 1.50.

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SBI Life Insurance Company, one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001.

Serving millions of families across India, SBI Life’s diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions. The company has posted its Q4FY22 and year ended financial results today, the details are as below :

(I) Audited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹21,427.88 crore in the quarter ended on March 31, 2022 as against ₹20,896.70 crore in the corresponding quarter ended last year on Mar 31, 2021, increased by 2.54%.

The company has posted a consolidated Net Profit of ₹672.15 crore in the quarter ended on March 31, 2022 as against ₹532.38 crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT surges up by 26.25%.

The status of the EPS of the company stood at ₹6.71 as on March 31, 2022 compared to the previous quarter ended on Mar 31, 2021 which was ₹5.32, up by 26.13%.

₹*Mar 31, 2022 (Q4FY22)Dec 31, 21 (Q3FY22)Mar 31, 21 (Q4)
Total Income21,427.8820,458.3120,896.70
Total Expenses20149.5220221.8420388.98
PBT /(Loss)694.06381.38622.13
Total Tax /(credit)21.9117.3289.75
PAT /(Loss) [to the owners]672.15364.06532.38
*figures are in Crores

(II) Audited Consolidated Financial Result details for the Year Ended :

The company has reported, a consolidated Total Income of ₹83,027.20 crore in the financial year ended on March 31, 2022 as against ₹82,084.89 crore for the financial year ended on Mar 31, 2021, increased by 1.15%.

The company has posted a consolidated Net Profit of ₹1,505.99 crore in the financial year ended on March 31, 2022 as against ₹1,455.85 crore for the financial year ended on March 31, 2021. The PAT surges up by 3.44%.

The status of the EPS of the company stood at ₹15.04 as on March 31, 2022 compared to the previous year ended on March 31, 2021 which was ₹14.55, up by 3.37%.

₹*Mar 31, 2022 (FY22)Mar 31, 2021 (FY21)
Total Income83,027.2082,084.89
Total Expenses81143.4480277.48
PBT /(Loss)1560.751542.46
Total Tax /(credit)54.7686.61
PAT /(Loss)1,505.991,455.85
*figures are in Crores

(III) Key Highlights about the Performance :

  • 39% growth in Value of New Business (VoNB) to ₹37.0 billion  VoNB Margin improved by 270 bps to 25.9% - Operating Return on Embedded Value stands at 20.6%
  • Private Market leadership in Individual Rated Premium (IRP) of ₹128.7 billion with 23.4% share
  • Strong growth in Individual New Business Premium of 32% to ₹165.0 billion  Strong growth in Protection New Business Premium of 24% to ₹ 30.5 billion
  • 16% growth in Individual New Business Sum Assured
  • 13th month persistency ratio stands at 85.18%
  • Assets under Management (AuM) grew by 21% to ₹2.7 trillion
  • Interim dividend of ₹2.0 per share with strong solvency ratio of 2.05
  • Return on Equity (RoE) stood at 13.7% in FY22 and 15.2% in FY21
  • Gross Written Premium (GWP) has grew by 17% to ₹587.6 billion in FY 22 mainly due to 25% growth in First Year Premium (FYP) and 12% growth in Renewal Premium (RP) in FY 22.
  • The Company’s net worth increased by 12% from ₹104 billion as on March 31, 2022 to ₹116.2 billion as on March 31, 2022.
  • Strong solvency ratio as on March 31, 2022 of 2.05 as against the regulatory requirement of 1.50.

Total Cost ratio for FY 22 is 8.8% vis-à-vis 8.3% for FY 21
1. Commission ratio for FY 22 is 3.7% vis-à-vis 3.5% for FY 21
2. Operating Expense for FY 22 is 5.1% vis-à-vis 4.8% in FY 21

Shares of SBI Life Insurance Company Limited was last trading in BSE at ₹1073.75 as compared to the previous close of ₹ 1093.75. The total number of shares traded during the day was 18591 in over 1582 trades.

The stock of SBI Life Insurance last hit in BSE,

  • Intraday High of ₹ 1097.95
  • Intraday low of ₹ 1061.95