SBI Life records 5 per cent growth in Net Profits in Q-1

New Delhi, 22 July (HS) : Recording all round performance in the present critical time, SBI Life Insurance, a leading private life insurers, has registered a 5 per cent growth in Net Profits to Rs. 390 crores for the period ended June 30, 2020 as compared to Rs. 371.90 crores in the corresponding quarter last year.

Informing this company sources told Hindusthan Samachar here today that with a market leadership of nearly 24 per cent share, they maintained their focus on the protection category of its plans.

As the single premium has increased by 31 per cent over the corresponding year, the new business premium was calculated at Rs. 3,059 crores during the first quarter of the current fiscal ending on  30 June.

SBI Life’s Asset Under Management (AUM) also grew by 19 per cent to Rs. 1,75,355 crore in Q-1 up from Rs. 1,46,954 crore  in the corresponding period of last year,the sources said .