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Kolkata: SBI Life Insurance reported fourth quarter net profit at Rs 532 crore, almost flat compared to the year ago period's Rs 530 crore. Its first year premium, a key business matrix for insurance firms, grew 45% at Rs 3660 crore compared with Rs 2522 crore over the same period.
For the full year, the insurer's net profit stood at Rs 1,456 crore while new business premium rose to Rs 20,624 crore from Rs 16,592 crore in the preceding fiscal.
The company focused on selling protection plans. Its protection new business premium stood at Rs 2,459 crore for the year marking a 18%.
Value of new business registered growth of 16% amounting to Rs 2,334 crore. Indian embedded value grew by 27% to Rs. 33,386 crore.
The company’s solvency ratio remained at 2.15 as against the regulatory requirement of 1.50.
It announced an interim dividend of Rs 2.5 per share with face value Rs 10.
For the full year, the insurer's net profit stood at Rs 1,456 crore while new business premium rose to Rs 20,624 crore from Rs 16,592 crore in the preceding fiscal.
The company focused on selling protection plans. Its protection new business premium stood at Rs 2,459 crore for the year marking a 18%.
Value of new business registered growth of 16% amounting to Rs 2,334 crore. Indian embedded value grew by 27% to Rs. 33,386 crore.
The company’s solvency ratio remained at 2.15 as against the regulatory requirement of 1.50.
It announced an interim dividend of Rs 2.5 per share with face value Rs 10.
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