Companies are now announcing quarterly results. Companies have already announced their quarterly results, while others will soon announce their results. SBI Life Insurance has also announced its quarterly results. This has resulted in a decrease in profit for the company. In the third quarter ending December 2022, the net profit of private insurer SBI Life Insurance fell by more than 16 percent to Rs. 304 crores.
SBI
SBI Life informed the stock market that it earned Rs 364 crore during the same quarter last year. According to the insurer, total income rose to Rs 26,626.71 million in October-December 2022. It was much lower than last year. According to the company it was Rs 20,458.31 Crore in the third quarter last financial year.
SBI Life
The company’s performance also increased to 229 percent, from 209 percent as of December 31, 2021. According to regulatory requirements, it should be at least 150 percent. The assets under management (AUM) of SBI Life grew by 17 percent to Rs 2,99,990 crore as on December 31, 2022. This was Rs 2,568,870 crore as of 31 December 2021.
SBI Life Insurance
SBI Life Insurance’s profit for the current fiscal year ended December 2022 was Rs 940 crore. This has increased in comparison to the previous financial year. In the same period, it was Rs 830 crore.
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