24 Jan 2024 , 03:20 AM
Result date: January 25, 2023
Recommendation: Buy
Target price: Rs. 1,870
Analysts at IIFL Capital Services believe SBI Life Insurance Company (SBI Life) could post industry-beating growth of 12% in annual premium equivalent (APE) over the year-ago quarter, and Value of New Business (VNB) growth of 13%, led by a 20 basis points expansion in margin over the year-ago quarter.
SBI Life has a resilient customer base, strong distribution franchise and low-cost structure; and could be the least impacted from regulatory changes. The company’s geographical reach and distribution muscle will aid in driving growth, believe analysts at IIFL Capital Services.
Important management insights to watch out for:
Rs. Billion |
December 2023 estimates |
YoY change |
New business premium |
97.4 |
15.7% |
Renewal premium |
125.0 |
14.6% |
Total APE |
60.9 |
12.2% |
Savings APE |
53.3 |
7.3% |
Protection APE |
7.6 |
65.6% |
VNB |
17.1 |
13.0% |
VNB margin (%) |
28.0% |
20 bps |
Source: IIFL Research
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.