SBI Life Posts Profit Rise on Retail Boost
SBI Life Insurance reported a higher quarterly profit driven by a shift toward high-margin retail products. Annualised premium equivalent sales rose 7 percent while net premium income increased over 8 percent.
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SBI Life Insurance Co Ltd posted a quarterly profit of 5.49 billion rupees ($57.71 million) during the morning of Tuesday, up from 4.95 billion rupees a year earlier. The insurer grew earnings by shifting toward higher-margin retail products. That expansion was tempered by a slowdown in its group business across India.
