Latest News | SBI Life Insurance Q1 Profit Up 14 Pc to Rs 590 Cr

New Delhi, Jul 24 (PTI) SBI Life Insurance on Thursday reported a 14 per cent growth in net profit to Rs 590 crore for the June quarter of the current financial year.

The company's profit after tax stood at Rs 520 crore in the April-June quarter of previous financial year.

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The total income of the company improved to Rs 38,696 crore as against Rs 34,392 crore in the same period a year ago, SBI Life Insurance said in a regulatory filing.

New business premium of the insurance firm rose to Rs 7,270 crore during the period under review compared to Rs 7,033 crore in the June 2024 quarter.

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Its renewal premium has increased 24 per cent to Rs 10,550 crore as against Rs 8,540 crore in the the corresponding period ended on June 30, 2024.

Asset Under Management (AUM) grew 15 per cent from Rs 4,14,770 crore as on June 30, 2024 to Rs 4,75,810 crore as on June 30, 2025 with debt-equity mix of 60:40, it said.

The company's net worth increased 15 per cent from Rs 15,570 crore as on June 30, 2024 to Rs 17,830 crore as on June 30, 2025, it added.

The board also approved the re-appointment of Amit Jhingran as the MD & Chief Executive Officer for the period commencing from October 1, 2025 to January 31, 2027 on the basis of recommendation of the board nomination and remuneration committee and subject to the approval of members of the company.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)