Life Insurance News

SBI Life Insurance reported a marginal 1.1 per cent decline in net profit to Rs. 804.6 crore in the January-March quarter of FY26 compared to Rs. 813.5 crore in the corresponding quarter last year.

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SBI Life Q4 profit slips despite premium growth

The insurer's net premium income increased 16 per cent year-on-year to Rs. 27,684 crore during the quarter. However, the value of new business (VNB), a key profitability metric for life insurers, declined to Rs. 1,630 crore from Rs. 1,670 crore a year earlier, while VNB margins moderated to 28.35 per cent.

Managing Director and CEO Amit Jhingran said demand improved during FY26 due to regulatory support and rising preference for protection-oriented products.

Policybazaar's Gift City business sees strong NRI traction

Policybazaar said its Gift City operations are witnessing strong demand from nonresident Indians for dollar-denominated insurance-linked investment products.

The company said more than 50 per cent of its NRI customer base by premium value now comes through its Gift City platform, which was launched in September 2025. Customers from the United States, United Arab Emirates and the United Kingdom account for the majority of transactions.

According to Lakshit Mahajan, the platform is attracting high-value investments, with some monthly premium commitments reaching up to $15,000.

Industry experts said Gift City's tax benefits, dollar-denominated products and simplified regulatory framework are increasingly attracting global Indian investors.

Protection products must remain insurance industry priority: SBI MD

Ashwini Tewari said insurance companies should prioritise selling protection-oriented products instead of focusing excessively on investment-linked offerings such as ULIPs.

Speaking at an event organised by Federation of Indian Chambers of Commerce and Industry, Tewari said protection products account for only around 10 per cent of the life insurance industry despite being the core purpose of insurance.