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However, net premium income jumped 16.02% to Rs 27,683.79 crore in Q4 FY26, compared with Rs 23,860.71 crore in Q4 FY25.

On a full-year basis, the company's standalone net profit rose 2.36% year-on-year (YoY) to Rs 2,470.3 crore in FY26, while net premium income increased 18.91% YoY to Rs 99,955.92 crore.

Gross Written Premium (GWP) stood at Rs 1,01,290 crore in FY26, up 19.19% from Rs 84,980 crore in FY25. Of this, new business premium (NBP) rose 19.58% to Rs 42,550 crore, while renewal premium (RP) increased 18.86% to Rs 58,729 crore.

Individual New Business Premium grew 12.97% YoY to Rs 29,780 crore, while Annualised Premium Equivalent (APE) increased 13.30% to Rs 27,270 crore.

Value of New Business (VoNB) improved 12.10% YoY to Rs 6,670 crore in FY26 from Rs 5,950 crore in FY25. The New Business Margin reduced to 27.5% in FY26 from 27.8% a year ago.

Indian Embedded Value (IEV) jumped 15% YoY to Rs 80,790 crore in FY26, while IEV per share rose 14.89% to Rs 80,540 in FY26 from Rs 70,100 in FY25.

Assets under Management (AuM) rose 8.73% YoY to Rs 4,87,160 crore in FY26, while net worth increased 12.36% to Rs 19,080 crore in FY26 from Rs 16,980 crore a year earlier.

The company maintained its leadership position, with a robust solvency ratio of 1.90 as on 31 March 2026, compared with the regulatory requirement of 1.50, indicating a strong financial position.

The company has a strong distribution network of 358,506 trained insurance professionals, including agents, CIFs and SPs, supported by a widespread presence across 1,230 offices nationwide.

It has a diversified distribution mix comprising a strong bancassurance channel, agency channel and other channels such as corporate agents, brokers, micro-agents, common service centres, insurance marketing firms, web aggregators and direct business.

The APE channel mix for FY26 stood at 60% for bancassurance, 29% for agency and 11% for other channels.

Individual NBP of the other channel increased 38% to Rs 5,070 crore in FY26 compared with the previous year.

Amit Jhingran, MD & CEO of SBI Life stated: 'The life insurance industry witnessed improved momentum during FY26, supported by recent regulatory measures and a gradual shift in customer preference towards protection-oriented products. The exemption of GST on individual policies enhanced affordability and supported demand during the period. The Company's product mix reflected evolving customer preferences, with balanced contributions from ULIPs, participating and non-participating savings products, while the Par and retail protection segments recorded strong year-on-year premium growth.

The company reported stable Value of New Business (VNB) margins along with steady VNB growth during FY26. SBI Life Insurance remains focused on maintaining a balanced approach to growth and profitability. The company continues to strengthen its product portfolio, distribution capabilities and operational efficiencies, while adhering to prudent risk management practices. As one of the leading private life insurers in India, SBI Life remains committed to enhancing insurance penetration and delivering long-term value to all stakeholders.'

SBI Life's diverse range of products caters to individuals as well as group customers through protection, pension, savings and health solutions.