SBI Life Q3 Review- Another Strong Quarter: Dolat Capital
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Dolat Capital Report
SBI Life Insurance Company Ltd. reported an 18% YoY increase in GWP to Rs. 138.7 billion in Q3FY21 driven by strong renewal premium, which grew 24.3%.
After 2 quarters of decline, APE growth was positive YoY for Q3FY21 (+3.6% YoY) to Rs. 35 billion.
Although savings APE was flat YoY, protection segment recorded a strong 43.5% growth YoY to Rs. 3.3 billion.
Dolat Capital expects SBI Life APE to grow in low single digit for FY21 and by ~20-25% in FY22.
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