The annualized equivalent of SBI Life Insurance for the last financial year grew around 9 percent year -on -year. How did the group insurance business work compared to the individual insurance business?
Ape individual grew around 13 percent year -on -year, while group protection grew by 5 percent, while there was a misfortune in the group of group funds. Group fund management is sensitive to interest rate and we observe greater competitiveness in this segment. Therefore, we focus on those segments that are accumulated and beneficial for all interested parties. In the future, we will continually evaluate all opportunities and see how interest rates move to decide our strategy in the group of group funds.
What is the Growth Guide for the whole year for fiscal year 26?
On the individual APE side, we are seeing a growth of around 14 percent, but the general growth of the AP base will be somewhere around 12 percent. We will continue to focus on growth better than industry.
The company’s market share in the private sector life insurance space stood at 20.8 percent, while for the general sector it was about 9 percent in fiscal year 2000 in the total of new business premiums. How would you explain it?
Our new commercial premium (NBP) was slightly affected this year due to the lower contributions of the group’s business, as mentioned above. However, when we specifically look at the individual NBP, we experience a lower immersion in our market, such as the private life insect sector that was reduced by 53 basic points year after year. This was mainly due to the fact that our growth in the individual classified premium was 12 percent, slightly below the private sector growth of 15 percent. However, we could deliver the change in products. On the basis of individual classified premiums (IRP), the general industry, including LIC, the growth was 10 percent. We obtained 26 basic interannual market points in the general space of the industry to 16 percent for the last financial year.
How much were the insurance plans linked to the unit (ULIPS)? In the future, would you like to change it?
Ulip has been one of the product lines where the company has been very strongly. And, Ulip’s contribution to APER exceeds 60 percent. But during the year (FY25), we follow a conscious strategy so as not to depend too much on any participular business line. And as a result of that was our action on the development and launch of new products on the traditional side. We launched four products in participating and non -participating segments, specifically focusing on the children’s segment. This happened in the last quarter (Q4Fy25). In fact, we saw a good traction. And that resulted in the mix of favorite products in the fourth quarter, particularly where Ulip’s participation was around 55 percent in APE.
In the future, we will see much better contributions in the traditional segment, since we want to reduce the part of the ULIPS segment. But in saying, we are not doing anything to demotivate Ulip sales. What we are trying to do is for the customer to decide, whatever the customer’s taste, we will sacrifice that product. But we are strengthening the portfolio of our products on the traditional side, the participant side and the non -participating side, including protection as well. So, when the product portfolio is strengthened, we also offer a better value for money in that segment. Therefore, the contribution will increase and the comparative weight will be more in the traditional product, which will reduce Ulip’s general contribution to the product. On the Individual APE side, the ULIP contribution of the current year (FY25) was around 70 percent, which we aspire to be around 65 percent during the year (Fy26).
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The SBI Life agency channel witnessed a growth off in the fourth fiscal quarter. What were the reasons?
In the last quarter, we launched a series of traditional products in the protection segment, in the participating segment and in a non -participating segment. And our approach was to obtain agents activity. In general, traditional products have a lower ticket size compared to Ulip, which resulted in a slower growth than the previous quarters. We are working with our agents to improve productivity and activity levels.
Why the value of the value of the new businesses (VNB) for the last prosecutor fell to 27.8 percent from 28.1 percent for the previous prosecutor? And what is the margin growth guide for fiscal year 26?
We have bone that gives a guide or 27-28 percent of children or margin in the last four quarters. And we are happy to have coined the range. We have delivered a number that was within this range. That said, if you observe the VNB margin of Q4FY25, it was around 30.5 percent, more in more than 200 basic points. The VNB margin is again a work of several factors, including the combination of products. The focus on traditional products helped us improve the margin in the fourth quarter. For fiscal year26, we continually maintain our orientation or 27-28 percent.
