News: SBI Life Insurance delivered a strong performance in Q1FY25, marked by healthy growth across key metrics. New Business Premium stood at ₹7030 crore, capturing a 21.8% market share. APE grew by 20% YoY to ₹3650 crore, driven by growth in unit linked and non-par segment. Significant improvement of 150 bps and 229 bps seen in 13M and 61M persistency. VNB increased 12% to ₹970 crore, while VNB margin stood at 26.8%.
Views: Profitability was robust, with PATNeutral surging 36% to ₹520 crore. Continued selective growth coupled with relatively better VNB margin is seen to aid valuation.
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