Life Insurance



General information about company
Scrip code 540719
NSE Symbol SBILIFE
MSEI Symbol NOTLISTED
ISIN INE123W01016
Name of company SBI Life Insurance Company Limited
Class Of Security Equity
Type Of Insurance Non-Linked Policy And Linked Policy
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 17-Jan-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 06-Jan-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Third quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited Audited
Start date and time of board meeting 17-Jan-2025 11:50
End date and time of board meeting 17-Jan-2025 14:15
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion



Format for financial results by life insurance companies filed with stock exchanges
Partiuclars Current Quarter Year to Date Figures
Date of start of reporting period 01-Oct-2024 01-Apr-2024
Date of end of reporting period 31-Dec-2024 31-Dec-2024
Whether accounts are audited or unaudited Audited Audited
Policyholders' Accounts
1 Income
(i) Gross premium income
(a) First Year Premium 645084.09 1451293.14
(b) Renewal Premium 1446756.99 3472748.30
(c) Single Premium 407941.84 1174267.33
Gross premium income 2499782.92 6098308.77
(ii) Net premium income 2482753.90 6019912.06
(iii) Income from investments (Net) -628164.69 3275490.96
(iv) Other income
1 Unclaim Investment Income 312.08 904.63
2 Bank Charges recovery 4.84 14.91
3 Interest on renewal Premium 7.33 16.09
4 Interest on revived policies 943.19 2468.06
5 Stale Cheque written back 0.01 0.68
6 FMC Income on Variable insurance products (VIP) 0.35 0.73
7 Other Income -1640.85 -3882.71
Total other income -373.05 -477.61
(v) Transfer Of Funds From Shareholders Account 0.00 0.00
(vi) Total Income 1854216.17 9294925.40
2 Expenses
(i) Commission on
(a) First Year Premium 59290.16 142594.80
(b) Renewal Premium 36020.65 82872.99
(c) Single Premium 6122.13 16571.21
Total Commission 101432.94 242039.01
(ii) Net Commission 125845.88 296198.87
(iii) Operating Expenses related to insurance business
(a) Employees remuneration and welfare expenses 73782.35 204689.81
(b) Administration expenses 0.00 0.00
(c) Advertisement and publicity 4607.69 12066.56
(b) Other operating expenses
1 Legal & professional charges 5642.63 16186.29
2 Depreciation 2208.37 6001.07
3 Rent, rates & taxes 2864.90 8278.91
4 Information technology expenses 4403.22 12768.70
5 Stamp duty on policies 3366.47 8155.54
6 Travel, conveyance and vehicle running expenses 2589.95 11224.59
7 Repairs 2411.49 7933.16
8 Communication expenses 1401.17 5558.39
9 Training Expenses 1182.22 3766.06
10 Other expenses 11413.87 28616.53
Total other operating expenses 37484.28 108489.23
Total operating expenses related to insurance business 115874.33 325245.59
Total Expenses of Management 241720.20 621444.46
(iv) Provisions for doubtful debts (including bad debts written off) 59.96 110.11
(v) Provisions for diminution in value of investments 72.60 -1873.60
(vi) Goods & Service tax charge on linked charges 31223.08 81565.88
(vii) Provision for taxes
Current Tax 2192.08 13791.45
Deffered Tax 0.00 0.00
Total provision of taxes 2192.08 13791.45
(viii) Benefits Paid (Net) 1253405.13 3637353.07
(ix) Change in actuarial liability 290841.06 4799412.92
Total Expenses 1819514.11 9151804.30
3 Net Surplus(Deficit) 34702.06 143121.10



4 Appropriations
(a) Transferred to Shareholders A/c 26230.68 79196.22
(b) Funds for Future Appropriation 8471.38 63924.89
5 Details of Surplus / Deficit
(a) Interim bonus paid 2687.56 7501.65
(b) Allocation of bonus to policyholders 0.00 0.00
(c) Surplus shown in the Revenue Account 34702.06 143120.73
(d) Terminal bonus paid 15405.82 31549.80
Total Surplus (Deficit ) 52795.44 182172.18



SHAREHOLDERS ' Account
1 Income
(i) Transfer from Poliycholders' Account 26230.68 79196.22
(ii) Income under Shareholders' Account
(a) Investment Income 31609.19 86342.72
(b) Other income
1 Other income 96.01 112.20
Total Other income 96.01 112.20
Total income under shareholders account 31705.20 86454.92
Total Income 57935.88 165651.13
2 Expenses
(i) Expenses other than those related to insurance business 688.73 2379.24
(ii) Transfer of funds to policyholders account 0.00 0.00
(iii) Provisions for doubtful debts (including write off) 0.00 0.00
(iv) Provisions for diminution in value of investments 85.95 -2133.85
Total Expenses 774.68 245.40
3 Profit/ (loss) before tax 57161.20 165405.74
4 Provisions for tax 2078.92 5426.91
(i) Current tax 2078.92 5426.91
(ii) Deffered tax 0.00 0.00
5 Profit / (loss) after tax and before Extraordinary Items 55082.28 159978.82
6 Extraordinary Items (Net of tax expenses) 0.00 0.00
7 Profit/ (loss) after tax and Extraordinary Items 55082.28 159978.82
8 Dividend per share
(a) Interim Dividend 0.00 0.00
(b) Final Dividend 0.00 0.00
9 Profit/(Loss) carried to Balance Sheet 1508762.94 1508762.94
10 Paid up equity share capital 100208.90 100208.90
11 Reserve & Surplus (excluding Revaluation Reserve) 1524327.20 1524327.20
12 Fair Value Change Account and Revaluation Reserve (Shareholders) 35250.11 35250.11
13 Assets
(i) Investments:
(a) Shareholders 1486671.91 1486671.91
(b) Policyholders Fund excluding Linked Assets 17711162.83 17711162.83
(c) Assets held to cover Linked Liabilities 24751868.01 24751868.01
Total Investments 43949702.75 43949702.75
(b) Other Assets (Net of current liabilities and provisions) 403045.05 403045.05
Total Assets 44352747.80 44352747.80
14 Analytical Ratios
(i) Solvency Ratio 0.02 0.02
(ii) Expenses of Management Ratio 0 0
(iii) Policyholder 's liabilities to shareholders' fund 2572100 2572100
(iv) Earnings per share (Rs.):
(a) Basic and diluted EPS before extraordinary items (net of tax expense) for the period (not to be annualized) 5.5 15.97
(b) Basic and diluted EPS after extraordinary items (net of tax expense) for the period (not to be annualized) 5.49 15.96
(v) NPA ratios: (for policyholders' fund)
(a) Gross NPAs
Non Linked
Par 0 0
Non Par 0 0
Linked
Par 0 0
Non Par 0 0
Net NPAs
Non Linked
Par 0 0
Non Par 0 0
Linked
Par 0 0
Non Par 0 0
% of Gross NPAs
Non Linked
Par 0 0
Non Par 0 0
Linked
Par 0 0
Non Par 0 0
% of Net NPAs
Non Linked
Par 0 0
Non Par 0 0
Linked
Par 0 0
Non Par 0 0
(vi) Yield on Investments (on policyholders' fund)
(a) Without unrealised gains
Non Linked
Par 0 0
Non Par 0 0
Linked
Par 0 0
Non Par 0 0
(b) With unrealised gains
Non Linked
Par 0 0
Non Par 0 0
Linked
Par 0 0
Non Par 0 0
(vii) NPA ratios: (for shareholders' fund)
(a) Gross NPAs 0 0
Net NPAs 0 0
(b) Percentage of Gross NPAs 0 0
Percentage of Net NPAs 0 0
(viii) Yield on Investments (on shareholders' fund)
(a) Without unrealised gains 0.09 0.08
(b) With unrealised gains 0.00 0.10
(ix) Persistency Ratio
1 13th Month 0.01 0.01
2 25th Month 0.01 0.01
3 37th Month 0.01 0.01
4 49th Month 0.01 0.01
5 61st Month
(ix) Other Rations
(x) Conservation Ratio 0.01 0.01
(xi) Percentage of shares held by Government of India (in case of public sector insurance companies) 0 0


Investor Compliants
(i) No of investor complaints pending at the beginning of the period 5 0
(ii) No of investor complaints during the period 4 35
(iii) No of investor complaints disposed off during the period 9 35
(iv) No of investor complaints remaining unresolved at the end of the period 0 0



(c) Notes Format for financial results by life insurance companies filed with stock exchanges
1.The Company doesn't have any subsidiary/associate/joint venture company(ies) therefore consolidated financial statements are not applicable to the Company. 2.The above financial results have been reviewed by the Board Audit Committee and approved by the Board of Directors at its meeting held on January 17, 2025. 3.The financial results have been prepared in accordance with the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended and IRDA circular IRDA/F&I/REG/CIR/208/10/2016 dated October 25, 2016 on publication of financial results for life insurance companies. 4.In view of seasonality of the industry, the financial results for the quarter and nine months ended December 31, 2024 are not indicative of the results that may be expected of any other interim period or full year. 5.The above financial results are audited by the Joint Statutory Auditors, M/s. A John Moris & Co, Chartered Accountants and M/s. K S Aiyar & Co, Chartered Accountants. 6.During the quarter ended December 31, 2024 the Company has allotted 165,046 equity shares with face value of Rs.10 each to its eligible employees pursuant to exercise of employee stock options in accordance with the Company's Employee Stock Option Scheme 2018 (ESOS 2018). 7.Insurance Regulatory and Development Authority of India (‘IRDAI’) vide its order dated June 2, 2023 (‘IRDAI order’) passed in terms of section 52B (2) of the Insurance Act, 1938 has directed to transfer the life insurance business of Sahara India Life Insurance Company Limited (‘SILIC’) involving policy liabilities and policyholders’ investment/ assets to SBI Life Insurance Company Limited (‘SBI Life’ or ‘the Company’). On appeal filed by SILIC against the said IRDAI order, the Securities Appellate Tribunal ('SAT' or 'Tribunal') vide its order dated June 13, 2023 has granted stay on the effect and operation of the said IRDAI order. Subsequently, the IRDAI has filed an appeal with Hon’ble Supreme Court against the stay order passed by SAT. The Hon’ble Supreme Court in its hearing held on July 17, 2023 has set aside Securities Appellate Tribunal’s (SAT) stay and directed the SAT to hear the case and decide it afresh. Subsequently, SAT has initiated the hearing of the case which is yet to be adjudicated upon. The case is listed for hearing on 3rd February 2025. The impact of the transactions pertaining to SILIC will be given in the financial results of the Company on receipt of all the relevant information as specified in the said IRDAI order and in accordance with the further directions of the Authority. 8.In accordance with requirement of IRDAI Master Circular on 'Presentation of Financial Statements and Filing of Returns' and IRDAI circular no. IRDAI/F&A/CIR/MISC/256/09/2021 dated September 30, 2021, the Company will publish the financials on the Company's website latest by February 14, 2025. 9.Figures of the previous period/year have been regrouped/ reclassified wherever necessary, in order to make them comparable. 10.Analytical ratios have been calculated as per definition given in IRDAI Analytical ratios disclosures. Basic and diluted EPS is not annualized for three/ nine months period. 11.The persistency ratios are calculated as per IRDA/ACT/CIR/GEN/21/02/2010 circular dated February 11, 2010 and IRDAI circular no. IRDAI/F&A/CIR/MISC/256/09/2021 dated September 30, 2021. i) Persistency ratios for the three months ended December 31, 2024 and December 31, 2023 are for the quarter persistency calculated using policies issued in 1st September to 30th November period of the relevant years. ii) Persistency ratios for the period ended December 31, 2024 and December 31, 2023 are upto the quarter persistency calculated using policies issued in 1st December to 30th November period of the relevant years. 12.Net Commission includes rewards. 13.Profit and Loss carried forward to balance sheet represents accumulated profit. 14.Income from Investmemts is Net of amortisation and losses (including capital gains)



Format for financial results by life insurance companies filed with stock exchanges

Partiuclars Current Quarter Year to Date Figures
Date of start of reporting period 01-Oct-2024 01-Apr-2024
Date of end of reporting period 31-Dec-2024 31-Dec-2024
Whether accounts are audited or unaudited Audited Audited
Segment Income
1 Name of segment Participating Life
(i) Net premium 163465.96 461870.06
(ii) Income form investments 103651.78 357491.70
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 406.89 1153.77
2 Name of segment Participating Pension
(i) Net premium 6861.91 22271.45
(ii) Income form investments 10347.77 29264.51
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 11.73 34.66
3 Name of segment Participating VIP
(i) Net premium 527.94 1701.72
(ii) Income form investments 2112.27 7130.78
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 0.97 10.01
4 Name of segment Non Participating Life
(i) Net premium 431555.70 1071307.28
(ii) Income form investments 80972.69 224760.39
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income -1233.35 -2913.70
5 Name of segment Non Participating Pension
(i) Net premium 276.42 588.50
(ii) Income form investments 618.16 1839.53
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 0.10 0.20
6 Name of segment Non Participating Group Life
(i) Net premium 212654.02 724108.39
(ii) Income form investments 85055.38 256176.54
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 72.41 102.89
7 Name of segment Non Participating Annuity
(i) Net premium 138707.59 376526.67
(ii) Income form investments 41790.41 120082.11
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 8.45 19.63
8 Name of segment Non Participating Health
(i) Net premium 359.05 1134.57
(ii) Income form investments 377.56 1185.79
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 0.88 2.26
9 Name of segment Non Participating VIP
(i) Net premium 576.74 1180.51
(ii) Income form investments 4606.49 13069.49
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 0.59 1.19
10 Name of segment Linked Individual Life
(i) Net premium 1143479.58 2491871.19
(ii) Income form investments -855750.99 1873238.55
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 423.62 1413.44
11 Name of segment Linked Group Life
(i) Net premium 4646.00 20192.43
(ii) Income form investments -174.74 2985.89
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income -0.02 0.19
12 Name of segment Linked Pension
(i) Net premium 379642.99 847159.29
(ii) Income form investments -101844.09 390139.28
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income -65.32 -302.13
13 Name of segment Shareholders
(i) Net premium 0.00 0.00
(ii) Income form investments 31523.24 88476.57
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 96.01 112.20
14 Name of segment Unallocated
(i) Net premium 0.00 0.00
(ii) Income form investments 0.00 0.00
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 0.00 0.00



Format for financial results by life insurance companies filed with stock exchanges
Partiuclars Current Quarter Year to Date Figures
Date of start of reporting period 01-Oct-2024 01-Apr-2024
Date of end of reporting period 31-Dec-2024 31-Dec-2024
Whether accounts are audited or unaudited Audited Audited
Segment Surplus/(Deficit) (net of transfer from shareholders' A/c)
1 Participating Life -1313.35 31677.67
2 Participating Pension 7264.75 13487.54
3 Participating VIP 1871.67 5111.30
4 Non Participating Life -16474.30 -73292.21
5 Non Participating Pension 200.40 532.87
6 Non Participating Group Life 23942.73 89260.16
7 Non Participating Annuity 511.45 -3494.98
8 Non Participating Health 131.54 -463.91
9 Non Participating VIP 1940.23 5173.34
10 Linked Individual Life 2130.24 44951.66
11 Linked Group Life -55.04 17.37
12 Linked Pension 14551.74 30159.94
13 Shareholders 28851.61 80782.61
14 Unallocated 0.00 0.00
Notes Segment Surplus/(Deficit) (net of transfer from shareholders' A/c)



Format for financial results by life insurance companies filed with stock exchanges
Partiuclars Current Quarter
Date of start of reporting period 01-Oct-2024
Date of end of reporting period 31-Dec-2024
Whether accounts are audited or unaudited Audited
Segment Assets
1 Participating Life 5680662.52
2 Participating Pension 370640.91
3 Participating VIP 52844.28
4 Non Participating Life 4691587.83
5 Non Participating Pension 28074.43
6 Non Participating Group Life 4272161.42
7 Non Participating Annuity 2521982.93
8 Non Participating Health 12503.84
9 Non Participating VIP 139278.08
10 Linked Individual Life 19052336.59
11 Linked Group Life 55103.22
12 Linked Pension 5845582.24
13 Shareholders 1659850.77
14 Unallocated -29861.26



Format for financial results by life insurance companies filed with stock exchanges
Partiuclars Current Quarter
Date of start of reporting period 01-Oct-2024
Date of end of reporting period 31-Dec-2024
Whether accounts are audited or unaudited Audited
Segment Liabilities
1 Participating Life 5678336.92
2 Participating Pension 368557.20
3 Participating VIP 51126.13
4 Non Participating Life 4695134.06
5 Non Participating Pension 27820.60
6 Non Participating Group Life 4269032.26
7 Non Participating Annuity 2518982.39
8 Non Participating Health 10957.74
9 Non Participating VIP 137227.66
10 Linked Individual Life 19042120.72
11 Linked Group Life 54383.73
12 Linked Pension 5839217.63
13 Shareholders 1659850.77
14 Unallocated 0.00