Insurance: SBI Life told the stock market on Saturday that its net profit was Rs 364 crore in the same quarter of the last financial year. The insurer said that the total income increased to Rs 26,626.71 crore in October-December 2022. Last year it was very less.
SBI: These days companies are announcing their quarterly results. Some companies have announced their quarterly results and some companies are going to announce their results in the coming days. Meanwhile, SBI Life Insurance has announced its quarterly results. In this, there has been a decline in the profit of the company. The net profit of private sector insurer SBI Life Insurance declined by over 16 per cent to Rs 304 crore in the third quarter of the current financial year ending December 2022.
SBI
SBI Life told the stock market on Saturday that its net profit was Rs 364 crore in the same quarter of the last financial year. The insurer said that the total income increased to Rs 26,626.71 crore in October-December 2022. Last year it was very less. According to the company, it was Rs 20,458.31 crore in the third quarter of the last financial year.
The solvency ratio of SBI Life
Company also improved to 225 per cent from 209 per cent as on December 31, 2021. It should be 150 percent under regulatory requirements. The assets-under-management (AUM) of SBI Life grew by 17 per cent to Rs 2,99,990 crore as on December 31, 2022. This figure was Rs 2,56,870 crore on 31 December 2021.
SBI Life Insurance
On the other hand, in the first nine months of the current financial year ending December 2022, the profit of SBI Life Insurance was Rs 940 crore. The company has seen an increase in this in the same period of the last financial year. It was Rs 830 crore in the same period of the last financial year.
