SBI Life Insurance- VNB Margin Improves; Persistency Trend Remains Buoyant: Motilal Oswal
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Motilal Oswal Report
SBI Life Insurance Company Ltd. reported strong trends in the Individual Protection and Non-PAR segments; ULIP also showed improving trends.
Furthermore, as SBI Life optimises its product mix, with a focus on the Protection and Annuity businesses, VNB margins improved to 20% in Q3 FY21 (v/s 18.8% in Q2 FY21).
Persistency improved across cohorts, with the most improvement seen in61st month (up 320 basis points YoY to 61.7% in 9M FY21) – which aided growth in the Renewal business.
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