SBI Life Insurance Company logo

SBI Life Insurance Company financials and balance sheet

NSE: SBILIFEBSE: 540719InsuranceLarge Cap

Last close ₹1,640.00down ₹2.90 (0.18%)BSE ₹1,645.00

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,642.90.

52-week range of traded prices to 23 Oct 2026
₹1,607.70Low, 23 Oct 2026₹2,132.00High, 23 Feb 2026
Market cap
₹1,64,558 Cr45th largest listed
P/E
63.3
P/B
8.2
Dividend yield
0.16%
ROE
13.7%
Solvency
1.96times the capital required
Gross premium
₹1,01,286 Cr
First-year premium
₹21,841 Cr
Expense ratio
10.59%
Persistency, 13 months
88%
Conservation
85%
Volume, NSE
9,80,26553.4% delivered

8 years at a glance

Standalone, laid out as a life insurer files them. No figures on this form for the years to Mar 2017 and Mar 2018.SBI Life Insurance Company annual reports

Gross premium, ₹ crore

Net profit, ₹ crore

Policies still paid at 13 months, Conservation ratio, per cent

  • Policies still paid at 13 months
  • Conservation ratio

SBI Life Insurance Company business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Standalone, ₹ crore, as the company reports them. A segment at a deficit has no share of surplus.SBI Life Insurance Company segment results by quarter

Net premium by segment

₹99,956 CrTotal
  • Linked Individual Life₹42,782 Cr42.8% of total
  • Non Participating Life₹18,704 Cr18.7% of total
  • Non Participating Group Life₹12,180 Cr12.2% of total
  • Linked Pension₹10,172 Cr10.2% of total
  • Participating Life₹7,528 Cr7.5% of total
  • Non Participating Annuity₹7,034 Cr7.0% of total
  • Linked Group Life₹1,253 Cr1.3% of total
  • Participating Pension₹241 Cr0.2% of total
  • Non Participating VIP₹24 Cr0.0% of total
  • Non Participating Health₹16 Cr0.0% of total
  • Participating VIP₹13 Cr0.0% of total
  • Non Participating Pension₹8 Cr0.0% of total

Surplus by segment

  • Linked Individual Life₹1,002 Cr30.5% of total
  • Non Participating Group Life₹1,028 Cr31.3% of total
  • Linked Pension₹717 Cr21.8% of total
  • Participating Life₹357 Cr10.9% of total
  • Participating Pension₹58 Cr1.8% of total
  • Non Participating VIP₹59 Cr1.8% of total
  • Non Participating Health₹33 Cr1.0% of total
  • Participating VIP₹18 Cr0.5% of total
  • Non Participating Pension₹12 Cr0.4% of total

Segment results by year

Standalone, ₹ crore, years to March.

  • Linked Individual Life

    Net premium, ₹ crore
    Surplus, ₹ crore
  • Non Participating Life

    Net premium, ₹ crore
    Surplus, ₹ crore
  • Non Participating Group Life

    Net premium, ₹ crore
    Surplus, ₹ crore
  • Linked Pension

    Net premium, ₹ crore
    Surplus, ₹ crore
  • Participating Life

    Net premium, ₹ crore
    Surplus, ₹ crore
  • Non Participating Annuity

    Net premium, ₹ crore
    Surplus, ₹ crore
  • Linked Group Life

    Net premium, ₹ crore
    Surplus, ₹ crore
  • Participating Pension

    Net premium, ₹ crore
    Surplus, ₹ crore
  • Non Participating VIP

    Net premium, ₹ crore
    Surplus, ₹ crore
  • Non Participating Health

    Net premium, ₹ crore
    Surplus, ₹ crore
  • Participating VIP

    Net premium, ₹ crore
    Surplus, ₹ crore
  • Non Participating Pension

    Net premium, ₹ crore
    Surplus, ₹ crore
₹ croreMar 2025Mar 2026
Net premium of all lines84,06099,956
Company net premium, as in its results84,06099,956
Net premium34,81142,782
Net premium growth–22.9%
Surplus1,1151,002
Surplus growth–−10.1%
Surplus to net premium3.2%2.3%
Assets1,88,2751,96,498
Liabilities1,88,2421,96,497
Net premium15,45318,704
Net premium9,94312,180
Net premium11,44810,172
Net premium6,5597,528
Net premium5,2447,034
Net premium2471,253
Net premium289241
Net premium1524
Net premium1816
Net premium2313
Net premium98
00
00
Net premium is the premium the insurer keeps after reinsurance; surplus is what each line has left after its benefits, reserves and expenses.

Income

₹ crore, years to March.

₹ croreMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Filed 24 AprMar 2026Filed 22 Apr
Total income44,26143,84382,08583,02781,5981,32,6311,17,1191,12,966
The lines under it are parts of it, not all of it.2,1242,4132,4122,9743,4093,9824,4916,225
Employee costs1,2371,3611,4911,8162,0462,3982,7293,252
Profit before tax1,3731,4141,5421,5611,7581,9422,4952,537
Tax46−9875538488167
Net profit1,3271,4221,4561,5061,7211,8942,4132,470
Earnings per share₹13.27₹14.22₹14.55₹15.05₹17.18₹18.90₹24.07₹24.62

Premiums and claims

₹ crore, years to March. Premium is an insurer's revenue; net is what it keeps after passing risk to a reinsurer.

₹ croreMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Filed 24 AprMar 2026Filed 22 Apr
Gross premium32,98940,63550,25458,76067,31681,43184,9851,01,286
Net premium32,89040,32449,76858,43266,58180,58784,06099,956
First-year premium9,0579,82910,33812,94215,19717,47619,37221,841
Renewal premium19,19724,04229,63033,30237,72743,19249,40858,735
Single premium4,7356,76410,28612,51614,39220,76316,20520,710
Income from investments11,2082,99731,45623,56813,26050,36731,71411,062
The lines under it are parts of it, not all of it.1,3461,6251,7792,1583,0623,2553,7394,496
On first-year premium7538248641,0801,8061,8471,9932,803
On renewal premium5216447678569251,0411,2001,452
On single premium7298112149204217226241
Expenses of management3,4704,0384,1915,1336,4727,2378,23010,721
Provision for doubtful debts110311311
Provision for fall in investment value96124−1711012−22−128
Benefits paid15,29416,25121,58331,34030,28743,10748,90254,323
Added to policy reserves23,59220,60553,93443,76241,00378,43155,70043,938
Bonus given to policyholders1,1491,2961,3951,5211,7151,8431,9672,061
Interim bonus paid6133233461679330
Terminal bonus paid0436798151216479673
Surplus or deficit2,2973,2673,2923,5064,7685,0185,5346,053
Kept for future allocation88432129151149194255129

Balance sheet

₹ crore, at 31 March. Total assets is left blank for the years to Mar 2019, Mar 2020, Mar 2021, Mar 2022, Mar 2023 and Mar 2024: this filing states its assets only net of its current liabilities and provisions, and not those liabilities, so its total assets are not given.

₹ croreMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Filed 24 AprMar 2026Filed 22 Apr
Total assets––––––4,57,0955,00,046
1,39,3251,58,8132,18,7562,64,8323,04,3343,85,5904,47,4674,86,367
Of policyholders64,47273,42093,9361,12,1311,29,8701,56,5441,85,2272,10,713
Of shareholders5,7236,8288,60510,07611,20913,03614,60416,710
For unit-linked policies69,12978,5651,16,2151,42,6251,63,2562,16,0102,47,6362,58,944
Fixed assets––––––590688
Borrowings––––––00
Current liabilities and provisions––––––6,1727,993
Owed to policyholders––––––1,79,8832,12,513
Owed on unit-linked policies––––––2,47,6362,58,944
Kept for future allocation––––––1,5911,721
The lines under it are parts of it, not all of it.7,5768,74310,40011,62213,01714,90816,98519,086
Contingent liabilities––––––1,212605

Capital

Solvency is the capital the insurer holds, in times the capital the regulator requires; the government's holding is a per cent of its shares; bad investments are in ₹ crore.

FigureMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Filed 24 AprMar 2026Filed 22 Apr
Solvency, times the required capital2.131.952.152.052.151.961.961.90
Held by the governmentFiled to the whole per cent for Mar 2025 and Mar 2026.0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Ratios

Per cent. The expense ratio is a share of premiums. Persistency is the share of policies still paid the stated number of months after they were sold.

Per centMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Filed 24 AprMar 2026Filed 22 Apr
Expense ratio10.52%9.94%8.34%8.74%9.61%8.89%9.68%10.59%
Conservation ratioFiled to the whole per cent for Mar 2025 and Mar 2026.85.22%85.09%87.48%83.32%81.58%81.61%81.00%85.00%
Policies still paid at 13 monthsFiled to the whole per cent for Mar 2025 and Mar 2026.85.07%75.26%87.92%85.18%85.52%86.78%87.00%88.00%
At 25 monthsFiled to the whole per cent for Mar 2025 and Mar 2026.76.65%66.94%79.39%78.06%75.55%77.38%78.00%78.00%
At 37 monthsFiled to the whole per cent for Mar 2025 and Mar 2026.71.39%61.89%74.08%72.15%74.51%71.26%72.00%72.00%
At 49 monthsFiled to the whole per cent for Mar 2025 and Mar 2026.66.43%55.81%68.07%69.85%70.26%72.67%68.00%69.00%
At 61 monthsFiled to the whole per cent for Mar 2025 and Mar 2026.57.23%49.84%61.63%49.48%55.60%58.55%63.00%58.00%

Cash flow

Standalone, ₹ crore, years to March.

₹ croreMar 2025Filed 24 AprMar 2026Filed 22 Apr
Cash from operations25,54734,523
Capital spending106185
Free cash flow25,44034,338
Cash from investing−21,789−35,318
Cash from financing−215−179
Dividends paid271271
Shares bought back00
Shares issued5692
Net change in cash3,543−974
Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2019, Mar 2020, Mar 2021, Mar 2022, Mar 2023 and Mar 2024.

Per share

Standalone, ₹ per share, years to March.SBI Life Insurance Company dividend history

₹ per shareMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Filed 24 AprMar 2026Filed 22 Apr
Earnings per share₹13.27₹14.22₹14.55₹15.05₹17.18₹18.90₹24.07₹24.62
Dividend per share₹2.00–₹2.50₹2.00₹2.50₹2.70₹2.70₹2.70
Book value per share₹75.76₹87.43₹104.00₹116.18₹130.06₹148.87₹169.49₹190.27
Dividend payout15.1%–17.2%13.3%14.5%14.3%11.2%11.0%
Shareholder yield––––––0.1%0.1%
Market cap at the year end (₹ crore)58,34064,10088,0901,12,1771,10,2021,50,2111,55,1081,78,233

Growth and returns over 3, 5 and 10 years

Standalone: the listed company alone, without its subsidiaries. Each window ends with the year to Mar 2026.

Measure5 years3 years
Revenue growth, yearly rate6.6%11.5%
Profit growth, yearly rate11.2%12.8%
Return on equity, average–14.0%
Net margin, average1.9%1.9%
Asset turnover, average–0.25

Where the cash came from and went

Standalone: the listed company alone, without its subsidiaries. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ croreLatest year
Cash from operations34,523
Cash from investing−35,318
Cash from financing−179
Capital spending185
Dividends paid271
Shares bought back0
Shares issued for cash92

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

DateAgencyBorrowing ratedRatingOutlookAmount, ₹ Cr
4 May 2026CRISIL Ratings Limited (opens in a new tab)Corporate Credit RatingCrisil AAAReview, Re-affirmStable
The latest rating on each borrowing. The agency's name opens its reasoning for the rating.