SBI Life Insurance Company rose 3.72% to Rs 637.85 at 14:34 IST on BSE after net profit rose 20.06% to Rs 457.68 crore on 54.78% increase in total income to Rs 15,739.85 crore in Q4 March 2019 over Q4 March 2018.
The result was announced after market hours yesterday, 25 April 2019.On the BSE, 1.19 lakh shares were traded in the counter so far compared with average daily volumes of 37,000 shares in the past two weeks. The stock had hit a high of Rs 643 and a low of Rs 624 so far during the day. The stock hit a 52-week high of Rs 774.75 on 27 April 2018. The stock hit a 52-week low of Rs 487 on 1 October 2018.
SBI Life Insurance Company said the value of new business (VoNB) for FY 2019 stood at Rs 1,720 crore, up by 24% over the previous fiscal.
VoNB is the present value of expected future earnings from new policies written during a specified period and it reflects the additional value to shareholders expected to be generated through the activity of writing new policies during a specified period.
Asset under management (AuM) grew by 21% from Rs 1,16,260 crore as of 31 March 2018 to Rs 1,41,020 crore as of 31 March 2019 with debt-equity mix of 77:23. 90% of the debt investments are in AAA and Sovereign instruments.
SBI Life Insurance Company is a joint venture between State Bank of India (SBI) and BNP Paribas Cardif S.A. and is one of the leading life Insurance companies in India.
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