SBI Life Q3 profit jumps 56 per cent to Rs 364 crore

New Delhi, Jan 21 (PTI) SBI Life Insurance on Friday reported a 56 per cent rise in net profit at Rs 364 crore for the third quarter ended December.

The private sector insurer's profit stood at Rs 233 crore in the same quarter of the previous fiscal, according to a regulatory filing.

However, total income declined to Rs 20,458.31 crore in the quarter under review from Rs 26,551.90 crore in October-December 2020 period.

The company's solvency ratio stood 209 per cent as of December 31, 2021, as against the regulatory requirement of 150 per cent.

The asset under management rose to Rs 2,56,900 crore at the end of December 2021 compared to Rs 2,09,500 crore in the year-ago period.

"In view of the seasonality of the industry, the financial results for the quarter and nine months ended December 31, 2021, are not indicative of the results that may be expected of any other interim period or full year," it said.