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Dolat Capital Report
SBI Life Insurance Company Ltd. reported a 28% YoY increase in gross written premium to Rs 130.9 billion in Q2 FY21 driven by strong renewal premium and single premium, which grew 28% and 71% respectively to Rs 71.5 billion and Rs 36.2 billion.
Annual premium equivalent declined 3.5% YoY to Rs. 27.1 billion but more than doubled sequentially.
The savings APE declined 9.2% to Rs. 23.7 billion while the protection APE grew 70% to Rs. 3.4 billion.
We expect the company’s APE growth to be on par with the industry’s.
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