Net Profit: SBI Life Q1 net profit rises 45 per cent to Rs 381 crore

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NEW DELHI: SBI Life Insurance coverage on Tuesday reported a forty five per cent enhance in internet revenue at Rs 381 crore for the June quarter.

The non-public sector life insurer, promoted by nation’s largest lender SBI, had posted a internet revenue of Rs 263 crore through the April-June interval of 2022-23.
The corporate’s gross written premium through the June quarter rose 19 per cent to Rs 13,560 crore as towards Rs 11,350 crore within the year-ago interval, SBI Life mentioned in a launch.

New Enterprise Premium (NBP) has grown 11 per cent to Rs 6,210 crore in Q1 FY24, aided by progress in single premium enterprise by 18 per cent, it mentioned.
Asset below administration grew by 25 per cent from Rs 2,62,350 crore as on June 30, 2022, to Rs 3,28,280 crore as on June 30, 2023, with a debt-equity mixture of 69:31, it mentioned.
The corporate’s internet price elevated by 15 per cent from Rs 11,760 crore as on June 30, 2022, to Rs 13,530 crore as on June 30, 2023, it added.

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