New Delhi : SBI Life Insurance, a subsidiary of SBI, posted about 11 per cent increase in its net profit at Rs 820 crore on account of new business growth for the fiscal ended March 2015.
The individual new business premium increased to Rs 3,757 crore. The regular new business premium increased by 11 per cent to Rs 3,331 crore. The gross total premium earned during the fiscal was Rs 12,867 crore, of which the new business premium accounted for Rs 5,529 crore and renewal premium accounted for Rs 7,338 crore.
SBI Life Managing Director and CEO Arijit Basu said, “We attribute our growth to our strong multi-channel distribution system, innovative new products and good customer service. We continue to grow consistently and will be entering our 15th year in the insurance business.”
