New Delhi: Private sector SBI Life Insurance on Saturday reported over 16 per cent decline in net profit to Rs 304 crore for the third quarter ended December 2022. SBI Life said the insurer’s profit stood at Rs 364 crore in the corresponding quarter of the previous fiscal. in a regulatory filing.
Total income rose to Rs 26,626.71 crore in the latest December quarter from Rs 20,458.31 crore in October-December 2021. ,Also Read: Price Drop Alert! iPhone 12 price slashed from Rs 59,900 to Rs 34,999; Check out Flipkart and Amazon Discount Offers,
The company’s solvency ratio also improved from 209 per cent as on December 31, 2021 to 225 per cent. The regulatory requirement is 150 percent. ,Also read: Union Budget 2023: From tax relief to job creation, five big expectations from the upcoming budget,
Assets under management (AUM) grew by 17 per cent from Rs 2,56,870 crore as on December 31, 2021 to Rs 2,99,990 crore as on December 31, 2022, with a debt-equity mix of 71:29. ,
For the nine-month period ended December, the life insurer reported a profit of Rs 940 crore as against Rs 830 crore in the same period a year ago.