At first glance, SBI Life Insurance Co.’s performance lends an extra shine to the leadership position that it has recently acquired in the market. The fact that the stock has returned 17% on its listing price would mean investors were rather confident it would do well anyway.
For financial year 2017-18, the country’s largest life insurer reported a 30% growth in its new business premium, largely led by retail and a 34% growth in value of new business, while operating expenses declined. Profit after tax accordingly grew 20.5% to Rs1,150 crore for the year.
