# SBILIFE (SBILIFE) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/sbilife

## Current market snapshot

- Exchange: BSE
- Country: India
- Price: ₹1,682
- Change: +0.07%
- As of: 2026-10-13
- 1D return: -0.23%
- 5D return: -1.68%
- 1M return: -1.16%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-10-12_

### Technical Outlook

As of October 12, 2026, SBILIFE's technical setup indicates a bearish trend on the daily and weekly timeframes, with price trading below major moving averages and the Supertrend indicator. The monthly timeframe, however, shows a bullish Supertrend direction despite price being below its moving averages. Daily trend conviction is established with an ADX of 28.13, while the monthly trend shows strong conviction (ADX 67.15), contrasting with a developing weekly trend (ADX 21.42).

The stock is positioned near the lower end of its 20-day, 50-day, and 252-day ranges, with a recent -0.2% return over the last month. Annualized volatility stands at +21.3%, with a current drawdown of -20.3%. Key resistance is observed at ₹1688.33 (0.45% above current price), and support is located at ₹1668.67 (0.72% below current price). A confirmed break above resistance could signal a shift, while a move below support may extend the current downtrend.

- Bearish daily and weekly trend, bullish monthly Supertrend direction.
- Daily trend conviction is established (ADX 28.13), monthly trend is strong (ADX 67.15).
- Stock is near the lower end of its 20, 50, and 252-day ranges; current drawdown is -20.3%.
- Nearest resistance at ₹1688.33 (+0.45%), nearest support at ₹1668.67 (-0.72%).
- Confirmation of setup strength requires a sustained move above ₹1688.33; invalidation would be a break below ₹1668.67.

- Outside Bar
- Inside Bar
- Evening Star
- Harami

### News Context

A report published on October 9, 2026, by Mint compared the premium growth of Life Insurance Corporation of India (LIC) against private life insurers for September 2026. While LIC reportedly outpaced private players in individual life insurance premium growth for the month, private insurers collectively showed faster growth in total new business premiums. The article highlighted HDFC Life and ICICI Prudential Life as notable performers among private insurers and discussed the implications of these trends for policy buyers.

- On October 9, 2026, Mint reported on September 2026 premium growth trends for LIC versus private life insurers.
- LIC reportedly led private insurers in individual life insurance premium growth for September 2026.
- Private life insurers collectively experienced faster growth in total new business premiums in September 2026.
- HDFC Life and ICICI Prudential Life were identified as key performers among private insurers in the reported period.

- [LIC vs private life insurers: Who saw faster premium growth in September 2026? What policy buyers should know | Mint](https://www.livemint.com/money/personal-finance/lic-vs-private-life-insurers-who-saw-faster-premium-growth-in-september-2026-what-policy-buyers-should-know-11791556813243.html)

### What Changed

As of October 12, 2026, SBI Life's operating environment is characterized by a competitive landscape within the Indian life insurance sector. Recent news from September 2026 indicates that while Life Insurance Corporation (LIC) saw faster growth in individual life insurance premiums, private insurers collectively experienced a quicker expansion in total new business premiums. Specific private players like HDFC Life and ICICI Prudential Life were highlighted for their performance in this period. This context remains unchanged from previous periods, with SBI Life operating within this dynamic market.

- In September 2026, private life insurers, including SBI Life, collectively grew faster in total new business premiums compared to LIC.
- LIC outpaced private insurers in individual life insurance premium growth during September 2026.

- [LIC vs private life insurers: Who saw faster premium growth in September 2026? What policy buyers should know | Mint](https://www.livemint.com/money/personal-finance/lic-vs-private-life-insurers-who-saw-faster-premium-growth-in-september-2026-what-policy-buyers-should-know-11791556813243.html)

### Official Filings

SBI Life Insurance Company Limited has reported several updates concerning its capital structure and governance. On October 7, 2026, the company disclosed the allotment of equity shares under its Employee Stock Option Plan (ESOP), which resulted in an increase in its paid-up share capital. Specifically, 4,160 equity shares were allotted, raising the total paid-up capital to ₹10,03,40,92,330 and the total number of shares to 1,00,34,09,233. This follows a similar allotment on September 17, 2026, where 55,501 shares were issued, increasing the paid-up capital to ₹10,03,40,50,730 and the total shares to 1,00,34,05,073. In terms of governance, the Board of Directors approved the appointment of Mr. Nihar Niranjan Jambusaria as an Additional Independent Director for a three-year term starting September 22, 2026. Additionally, the company reappointed M/s. K S Aiyar & Co. and M/s. J Singh & Associates as Joint Statutory Auditors for the Financial Year 2026-27 on September 9, 2026. The company also announced a closure of its trading window from October 1, 2026, until 48 hours after the declaration of financial results for the quarter and half-year ending September 30, 2026, in compliance with SEBI regulations. A tax demand order of ₹1,12,99,508 was received on September 25, 2026, for the period April-August 2025, which the company intends to appeal.

- On October 7, 2026, 4,160 equity shares were allotted under ESOP, increasing paid-up capital to ₹10,03,40,92,330.
- On September 17, 2026, 55,501 equity shares were allotted under ESOP, increasing paid-up capital to ₹10,03,40,50,730.
- Mr. Nihar Niranjan Jambusaria was appointed as an Additional Independent Director for a three-year term starting September 22, 2026.
- Joint Statutory Auditors M/s. K S Aiyar & Co. and M/s. J Singh & Associates were reappointed for FY 2026-27 on September 9, 2026.
- A tax demand order of ₹1,12,99,508 was received on September 25, 2026, concerning excess Input Tax Credit claimed between April and August 2025; an appeal is planned.

- [SBI Life Insurance Company Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_15482_WebXMLFile_20261007_215809145.xml)
- [SBI Life Insurance Company Limited has informed the Exchange regarding of Allotment 4160 equity shares pursuant to ESOP through Circular resolution of the Board Stakeholders Relationship and Sustainability Committee passed on October 07, 2026. |SUBJECT: ESOP/ESOS/ESPS](https://nsearchives.nseindia.com/corporate/SBILIFE_07102026215457_SE07102026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/SBILIFE_30092026163853_CTW30092026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_15482_WebXMLFile_20260930_164948856.xml)
- [SBI Life Insurance Company Limited has informed the Exchange about General Updates |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/SBILIFE_25092026181407_RJ25092026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Outcome of Board Meeting held on September 22, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/SBILIFE_22092026204216_Outcome_BM_22092026_Signed.pdf)
- [SBI LIFE INSURANCE COMPANY LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_15482_WebXMLFile_20260922_204910928.xml)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Allotment of 55501 Shares. |SUBJECT: ESOP/ESOS/ESPS](https://nsearchives.nseindia.com/corporate/SBILIFE_17092026164248_SE_17092026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_15482_WebXMLFile_20260917_164958253.xml)
- [SBI Life Insurance Company Limited has informed the Exchange about appointment of Joint Statutory Auditors for the Financial Year 2026-27 |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/SBILIFE_09092026225156_Intimation_-_Appointment_of_auditor_signed.pdf)

### Fundamentals

SBI Life's reported gross premium income saw a sequential decrease in Q1 FY2026-27, falling to ₹21,289.66 crore from ₹27,938.86 crore in Q4 FY2025-26. This decline was observed across first-year premiums (₹4,954.93 crore vs. ₹5,092.71 crore), renewal premiums (₹12,381.79 crore vs. ₹16,713.96 crore), and single premiums (₹3,952.93 crore vs. ₹6,132.18 crore). While operating expenses related to the insurance business also decreased sequentially to ₹1,635.46 crore from ₹1,668.25 crore, commission expenses increased to ₹929.56 crore from ₹859.11 crore over the same periods. The sequential decrease in gross premium income, coupled with rising commission expenses, indicates potential pressure on the company's top-line growth and profitability in the immediate term.

- Gross Premium Income decreased sequentially to ₹21,289.66 crore in Q1 FY2026-27.
- All premium categories (first year, renewal, single) showed sequential declines.
- Commission expenses increased sequentially to ₹929.56 crore in Q1 FY2026-27.
- Monitor the trajectory of Gross Premium Income and commission expenses in the next reporting period.

### Bull Case

The company's monthly technical trend indicates a bullish setup, with an ADX of 67.15 and a plus DI of 18.94, suggesting strong upward momentum over the longer term. While daily and weekly trends show bearish signals, the monthly view presents a potentially constructive longer-term outlook. The stock has achieved a cumulative return of +20.0% since its inception, indicating historical growth.

- Monthly technical trend shows a bullish setup with ADX at 67.15.
- Monthly trend shows a plus DI of 18.94, indicating upward momentum.
- Cumulative return since inception stands at +20.0%.

- [LIC vs private life insurers: Who saw faster premium growth in September 2026? What policy buyers should know | Mint](https://www.livemint.com/money/personal-finance/lic-vs-private-life-insurers-who-saw-faster-premium-growth-in-september-2026-what-policy-buyers-should-know-11791556813243.html)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_15482_WebXMLFile_20261007_215809145.xml)
- [SBI Life Insurance Company Limited has informed the Exchange regarding of Allotment 4160 equity shares pursuant to ESOP through Circular resolution of the Board Stakeholders Relationship and Sustainability Committee passed on October 07, 2026. |SUBJECT: ESOP/ESOS/ESPS](https://nsearchives.nseindia.com/corporate/SBILIFE_07102026215457_SE07102026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/SBILIFE_30092026163853_CTW30092026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_15482_WebXMLFile_20260930_164948856.xml)
- [SBI Life Insurance Company Limited has informed the Exchange about General Updates |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/SBILIFE_25092026181407_RJ25092026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Outcome of Board Meeting held on September 22, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/SBILIFE_22092026204216_Outcome_BM_22092026_Signed.pdf)
- [SBI LIFE INSURANCE COMPANY LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_15482_WebXMLFile_20260922_204910928.xml)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Allotment of 55501 Shares. |SUBJECT: ESOP/ESOS/ESPS](https://nsearchives.nseindia.com/corporate/SBILIFE_17092026164248_SE_17092026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_15482_WebXMLFile_20260917_164958253.xml)

### Bear Case

The company's technical indicators suggest a weakening trend. Daily and weekly Supertrend directions are noted as bearish, and the 20-day Exponential Moving Average (EMA) slope is negative (-12.26). Over the past year, the stock has experienced a return of -7.2%, and year-to-date, it has declined by -17.6%. The current drawdown stands at -20.3%, with a maximum drawdown of -21.6% observed. The stock is trading near its nearest support level of ₹1668.67, which is 0.72% below the current price of ₹1680.8.

- Daily and weekly Supertrend indicators are in a bearish direction as of 2026-10-12.
- The stock has a year-to-date return of -17.6% and a 1-year return of -7.2%.
- Current drawdown is -20.3%, with a maximum drawdown of -21.6%.
- The nearest support level is ₹1668.67, approximately 0.72% below the current price.

- [LIC vs private life insurers: Who saw faster premium growth in September 2026? What policy buyers should know | Mint](https://www.livemint.com/money/personal-finance/lic-vs-private-life-insurers-who-saw-faster-premium-growth-in-september-2026-what-policy-buyers-should-know-11791556813243.html)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_15482_WebXMLFile_20261007_215809145.xml)
- [SBI Life Insurance Company Limited has informed the Exchange regarding of Allotment 4160 equity shares pursuant to ESOP through Circular resolution of the Board Stakeholders Relationship and Sustainability Committee passed on October 07, 2026. |SUBJECT: ESOP/ESOS/ESPS](https://nsearchives.nseindia.com/corporate/SBILIFE_07102026215457_SE07102026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/SBILIFE_30092026163853_CTW30092026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_15482_WebXMLFile_20260930_164948856.xml)
- [SBI Life Insurance Company Limited has informed the Exchange about General Updates |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/SBILIFE_25092026181407_RJ25092026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Outcome of Board Meeting held on September 22, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/SBILIFE_22092026204216_Outcome_BM_22092026_Signed.pdf)
- [SBI LIFE INSURANCE COMPANY LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_15482_WebXMLFile_20260922_204910928.xml)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Allotment of 55501 Shares. |SUBJECT: ESOP/ESOS/ESPS](https://nsearchives.nseindia.com/corporate/SBILIFE_17092026164248_SE_17092026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_15482_WebXMLFile_20260917_164958253.xml)

### FAQs

**What recent corporate actions have impacted SBI Life's share capital?**

On October 7, 2026, SBI Life Insurance Company Limited allotted equity shares under its ESOP/ESPS scheme. This resulted in an increase in the company's paid-up share capital from ₹10,034,050,730 to ₹10,034,092,330, and the total number of shares increased from 1,003,405,073 to 1,003,409,233.

**What is the current technical trend for SBI Life based on daily and weekly indicators?**

As of October 12, 2026, the daily trend for SBI Life indicates a bearish direction with a Supertrend direction of 'bearish', an EMA 20 slope of -12.26, and an SMA 20 slope of -3.21. The weekly trend also shows a bearish direction with a Supertrend direction of 'bearish', an EMA 20 slope of -41.22, and an SMA 20 slope of -34.82.

**Has SBI Life received any tax-related orders recently?**

Yes, on September 25, 2026, SBI Life Insurance Company Limited received a tax demand order from the Deputy Commissioner in Jaipur, Rajasthan, for the period of April to August 2025. The order includes a total financial liability of ₹1,12,99,508, comprising tax, interest, and penalty. The company has stated its intention to file an appeal against this order.

**What are the nearest support and resistance levels for SBI Life's stock?**

As of October 12, 2026, the nearest support level for SBI Life is at ₹1668.67, which is 0.72% below the current price. The nearest resistance level is at ₹1688.33, which is 0.45% above the current price.

**When is the trading window expected to reopen for SBI Life?**

SBI Life announced a closure of its trading window starting from October 1, 2026. The window will remain closed until 48 hours after the declaration of financial results for the quarter and half-year ending September 30, 2026. The exact date for the board meeting to approve these results has not yet been announced.

- [LIC vs private life insurers: Who saw faster premium growth in September 2026? What policy buyers should know | Mint](https://www.livemint.com/money/personal-finance/lic-vs-private-life-insurers-who-saw-faster-premium-growth-in-september-2026-what-policy-buyers-should-know-11791556813243.html)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_15482_WebXMLFile_20261007_215809145.xml)
- [SBI Life Insurance Company Limited has informed the Exchange regarding of Allotment 4160 equity shares pursuant to ESOP through Circular resolution of the Board Stakeholders Relationship and Sustainability Committee passed on October 07, 2026. |SUBJECT: ESOP/ESOS/ESPS](https://nsearchives.nseindia.com/corporate/SBILIFE_07102026215457_SE07102026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/SBILIFE_30092026163853_CTW30092026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_15482_WebXMLFile_20260930_164948856.xml)
- [SBI Life Insurance Company Limited has informed the Exchange about General Updates |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/SBILIFE_25092026181407_RJ25092026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Outcome of Board Meeting held on September 22, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/SBILIFE_22092026204216_Outcome_BM_22092026_Signed.pdf)
- [SBI LIFE INSURANCE COMPANY LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_15482_WebXMLFile_20260922_204910928.xml)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Allotment of 55501 Shares. |SUBJECT: ESOP/ESOS/ESPS](https://nsearchives.nseindia.com/corporate/SBILIFE_17092026164248_SE_17092026_signed.pdf)
- [SBI Life Insurance Company Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_15482_WebXMLFile_20260917_164958253.xml)
## Technical analytics

- As of: 2026-10-13
- Daily trend: Strong Downtrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹1,688.33
- Risk regime: Price Risk Requires Attention

### Support levels
- 1652.9
- 1529.65
- 1438.2375000000002

### Resistance levels
- 1775
- 1797.5280059814454
- 1857.15

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -0.23% |
| return_10 | -3.51% |
| return_1m | -0.23% |
| return_1y | -7.16% |
| return_20 | -1.16% |
| return_3m | -9.78% |
| return_5 | -1.68% |
| return_6m | -12.60% |
| return_since_start | +20.02% |
| return_ytd | -17.62% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -21.59% |
| annualized_volatility | +21.27% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Profit and Premium Growth in the June Quarter, but Expense Ratio Rises; Solvency Ratio Basis Changes

In the June 2026 quarter, SBI Life Insurance Company Limited reported a 19.5% year-on-year increase in gross premium income to ₹21,289.66 crore, while profit after tax rose 22% to ₹724.93 crore. Expenses of management, however, grew 33.9%, lifting the expense ratio to 12.05% from 10.75% a year earlier. The solvency ratio stood at 1.96, a different scale from the 0.0190–0.0196 range reported in the four preceding quarters.

## Premium Composition

Gross premium income for the quarter ended 30 June 2026 was ₹21,289.66 crore, up 19.5% from ₹17,813.89 crore in the same quarter last year. All premium categories expanded year-on-year, with the sharpest growth in first-year premiums.

- **First-year premiums** jumped 40.0% to ₹4,954.93 crore from ₹3,539.47 crore a year ago, driving new business growth.
- **Renewal premiums** rose 17.4% to ₹12,381.79 crore, reflecting the accumulated in-force book.
- **Single premiums** increased 6.0% to ₹3,952.93 crore.

Sequentially, gross premium income declined from ₹27,938.86 crore in the March 2026 quarter, in line with the historical pattern where the June quarter typically sees the lowest premiums. Single premiums fell the most (−35.5%), followed by renewal premiums (−25.9%), while first-year premiums dipped only 2.7%.

## Expenses and the Expense Ratio

Total expenses of management reached ₹2,565.02 crore, 33.9% higher than the ₹1,915.17 crore recorded in the prior-year June quarter. This pace comfortably exceeded the 19.5% growth in gross premium income.

- Commission expenses grew 39.6% year-on-year to ₹929.56 crore.
- Operating expenses relating to the insurance business rose 44.8% to ₹1,635.46 crore.

As a result, the expense ratio (expenses of management as a percentage of gross premium income) rose to 12.05% from 10.75% a year earlier. Sequentially, expenses edged up 1.5% while gross premium declined, pushing the ratio higher in the near term.

## Profitability

Profit after tax for the quarter was ₹724.93 crore, up 22.0% from ₹594.37 crore in the same quarter last year. Basic earnings per share increased correspondingly to ₹7.23 from ₹5.93. Profit growth slightly outpaced the 19.5% rise in gross premium income.

Compared with the immediately preceding quarter (Q4 FY2025-26), profit after tax declined 9.9% from ₹804.64 crore, consistent with the lower premium income typically seen in the June quarter.

## Solvency Ratio

The reported solvency ratio as of 30 June 2026 was 1.96. In the four preceding quarters, the ratio was reported between 0.0190 and 0.0196, reflecting a change in calculation basis. The current ratio of 1.96 is commonly associated with a life insurer’s regulatory threshold, but the difference in scale means the figures are not directly comparable across periods.

## Key Takeaway

The June 2026 quarter delivered substantial year-on-year growth in premiums and profits, led by a 40% rise in first-year premiums. Expenses, however, grew faster than premiums, pushing the expense ratio up by 1.3 percentage points to 12.05%. Profit after tax rose 22%, closely tracking premium growth. The solvency ratio was reported at 1.96, while prior quarters showed ratios near 0.019, indicating a change in reporting basis.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +55.32%
- FII holding: +20.95%
- DII holding: +19.67%
- Mutual fund holding: +15.87%
- Retail holding: +1.77%
- Promoter pledged: +0.00%

### Major reported shareholders

- STATE BANK OF INDIA — +55.32%
- HDFC MUTUAL FUND SCHEMES — +4.16%
- ICICI PRUDENTIAL MUTUAL FUND SCHEMES — +3.96%
- GOVERNMENT OF SINGAPORE — +3.32%
- NPS TRUST SCHEMES — +2.00%
- MACRITCHIE INVESTMENTS PTE LTD — +1.51%
- MIRAE ASSET MUTUAL FUND SCHEMES — +1.29%
- NIPPON LIFE INDIA MUTUAL FUND SCHEMES — +1.10%
- SBI MUTUAL FUND SCHEMES — +1.07%

## Official filings

- 2026-10-12 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_12102026174052_SE12102026_Signed.pdf)
- 2026-10-07 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_15482_WebXMLFile_20261007_215809145.xml)
- 2026-10-07 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_07102026215457_SE07102026_signed.pdf)
- 2026-09-30 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_30092026163853_CTW30092026_signed.pdf)
- 2026-09-30 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_15482_WebXMLFile_20260930_164948856.xml)
- 2026-09-25 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_25092026181407_RJ25092026_signed.pdf)
- 2026-09-22 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_22092026204216_Outcome_BM_22092026_Signed.pdf)
- 2026-09-22 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_15482_WebXMLFile_20260922_204910928.xml)
- 2026-09-17 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_17092026164248_SE_17092026_signed.pdf)
- 2026-09-17 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_15482_WebXMLFile_20260917_164958253.xml)
- 2026-09-09 — Management Change: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_09092026225156_Intimation_-_Appointment_of_auditor_signed.pdf)
- 2026-09-08 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_08092026184309_SE08092026.pdf)
- 2026-08-26 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_26082026223758_SE26082026_signed.pdf)
- 2026-08-23 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_23082026150341_SE23082026_signed.pdf)
- 2026-08-19 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_19082026194302_SENS19082026_signed.pdf)
- 2026-08-19 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_15482_WebXMLFile_20260819_195026265.xml)
- 2026-08-18 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_18082026223000_SE_18082026_signed.pdf)
- 2026-08-18 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_15482_WebXMLFile_20260818_223516526.xml)
- 2026-08-14 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_14082026234139_SE14082026AGMPr2026_signed.pdf)
- 2026-08-14 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_14082026234831_SE14082026AGM2026VR_signed.pdf)
- 2026-08-08 — Generic Announcement: SBI Life Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_08082026152034_SE08082026-signed.pdf)
- 2026-07-30 — Generic Announcement: SBI Life Insurance Company Limited reported its Q1 FY27 earnings, with Profit After Tax at INR 7.2 billion, a 22% increase year-on-year. Individual Rated Premium grew 14% to INR 39.7 billion, and Gross Written Premium increased 20% to INR 212.9 billion. The company's Value of New Business (VoNB) stood at INR 14.1 billion, up 29%, with a VoNB margin of 26.2%. Assets Under Management reached INR 5.2 trillion, a 10% growth, and the solvency ratio was 1.96. — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_30072026185215_SE30072025_signed.pdf)
- 2026-07-24 — Generic Announcement: SBI Life Insurance Company Limited published a newspaper advertisement on July 24, 2026, in 'Financial Express' and 'Loksatta' regarding the dispatch of the Notice and e-voting information for its 26th Annual General Meeting (AGM). This action complies with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_24072026151109_SEPostN24072026_signed.pdf)
- 2026-07-24 — Generic Announcement: SBI Life Insurance Company Limited's Board of Directors approved the Unaudited Financial Results for the quarter ended June 30, 2026, on July 24, 2026. The company's joint statutory auditors, K S Aiyar & Co. and J Singh & Associates, issued unmodified limited review reports. The trading window for company securities will reopen on July 27, 2026. Additionally, Willis Towers Watson provided an actuarial opinion confirming SBI Life's embedded value results as of June 30, 2026, amounting to INR 852.9 billion, and a value of new business of INR 14.1 billion for the quarter. — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_24072026144041_SEBM24072026_signed.pdf)
- 2026-07-24 — Generic Announcement: SBI Life Insurance Company Ltd. has hosted an audio recording of its earnings conference call for Q1 FY 2026-27, held on July 24, 2026, on its website. This follows a previous intimation and complies with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The call pertained to the financial results for the quarter ended June 30, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/SBILIFE_24072026203935_AR24072026_signed.pdf)

## News and market events

- 2026-10-09 — Mint: **LIC vs private life insurers: Who saw faster premium growth in September 2026? What policy buyers should know | Mint** — LIC outpaced private insurers in individual life insurance premium growth in September 2026, but private players grew faster in total new business premiums. HDFC Life and ICICI Prudential Life stood out. What do these trends mean for policy buyers? — [Source](https://www.livemint.com/money/personal-finance/lic-vs-private-life-insurers-who-saw-faster-premium-growth-in-september-2026-what-policy-buyers-should-know-11791556813243.html)
- 2026-10-01 — Mint: **Macquarie stock recommendations: ICICI Bank, SBI, PayTM to LIC — top 11 financial shares to buy on rerating potential** — Macquarie stock recommendations: The global brokerage is expecting a turn around in the Indian financial shares — [Source](https://www.livemint.com/market/stock-market-news/macquarie-stock-recommendations-icici-bank-sbi-paytm-to-lic-top-11-financial-shares-to-buy-on-rerating-potential-11790829958477.html)
- 2026-09-30 — CNBC-TV18: **Market Close Explained: Why Nifty ended lower despite gains in banking stocks** — The Nifty Bank was the relative outperformer, rising 373 points to 54,633, while the Nifty Midcap index gained 13 points to 59,332. — [Source](https://www.cnbctv18.com/market/market-close-explained-why-nifty-ended-lower-despite-gains-in-banking-stocks-20002098.htm)
- 2026-09-28 — Economic Times: **IRDAI pushes LIC, SBI Life to seek further cost efficiency** — Insurers like Life Insurance Corp and SBI Life need to improve cost efficiencies under new regulatory guidelines. The proposals suggest lowering the expense of management limit from around 16% to 12.5% within five years. While larger insurers are compliant, they must reduce their efficiencies further. Smaller players might gain market share if they enhance their operations as well. The overall goal is to increase efficiency and value for policyholders. — [Source](https://economictimes.indiatimes.com/industry/banking/finance/insure/irdai-pushes-lic-sbi-life-to-seek-further-cost-efficiency/articleshow/134548886.cms)
- 2026-09-28 — Economic Times: **IRDAI’s commission crackdown: Why insurers may cope but distributors face a tougher test** — Transformations are on the horizon for India's insurance industry, with new proposals from the Insurance Regulatory and Development Authority of India aiming to streamline product distribution and limit commissions. These changes could lead to lower insurance premiums, but distributors heavily reliant on commissions might struggle. Insurers like SBI Life, known for their efficient low commission rates, may adapt more easily. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/irdais-commission-crackdown-why-insurers-may-cope-but-distributors-face-a-tougher-test/articleshow/134538251.cms)
- 2026-09-28 — Mint: **SBI Life, HDFC Life, ICICI Prudential: Should you invest in insurance stocks amid IRDAI new reforms? Experts suggestion** — Prathamesh Kadival, Research Analyst at Bonanza, believes that India's insurance sector is entering an important phase as IRDAI pushes for lower costs, greater transparency and better value for policyholders — [Source](https://www.livemint.com/market/stock-market-news/sbi-life-hdfc-life-icici-prudential-should-you-invest-in-insurance-stocks-amid-irdai-new-reforms-experts-suggestion-11790586686269.html)
- 2026-09-28 — The Hindu: **Markets sink to April lows at noon; crude surge, FII selling batter sentiment across sectors** — FIIs continued their selling trend, offloading equities worth ₹3,694 crore in the previous session, while DIIs purchased approximately ₹2,838 crore — [Source](https://www.thehindubusinessline.com/markets/markets-sink-to-april-lows-at-noon-crude-surge-fii-selling-batter-sentiment-across-sectors/article71518803.ece)
- 2026-09-28 — Economic Times: **Trouble continues: Turtlemint, PB Fintech, other insurance stocks drop up to 38% in 3 days. What are analysts saying?** — Insurance stocks including PB Fintech, Turtlemint, ICICI Lombard, HDFC Life and SBI Life face selling pressure as proposed IRDAI distribution reforms raise concerns over commissions, revenue and earnings. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/trouble-continues-turtlemint-pb-fintech-other-insurance-stocks-drop-up-to-38-in-3-days-what-are-analysts-saying/articleshow/134534271.cms)
- 2026-09-27 — MONEYCONTROL: **Daily Voice: RBI stance shift likely in October, rate hike in December, says Valtrust's Rahul Bhutoria** — Daily Voice, Rahul Bhutoria,BSE Sensex,Nifty 50,NSE Nifty,inflation,RBI monetary policy,RBi rate hike — [Source](https://www.moneycontrol.com/news/business/markets/daily-voice-rbi-stance-shift-likely-in-october-rate-hike-in-december-says-valtrust-s-rahul-bhutoria-14039031.html)
- 2026-09-26 — The Hindu: **PB Fintech, HDFC Life, SBI Life: What IRDAI Caps Mean** — IRDAI’s proposed commission and expense caps could reshape insurance economics. Here is what investors should know before buying affected stocks. — [Source](https://www.thehindubusinessline.com/portfolio/stock-fundamental-analysis-india/pb-fintech-hdfc-life-sbi-life-irdai-commission-caps/article71512136.ece)
- 2026-09-26 — REDIFF.COM: **Longest Nifty Losing Streak Since Covid** — 'India is collateral damage. There is no way that foreign investors are going to bring money in India despite our yields also going up.' — [Source](https://www.rediff.com/business/report/longest-nifty-losing-streak-since-covid/20260926.htm)
- 2026-09-25 — Economic Times: **Accel India, 360 ONE Group sell over 4% stake in BlueStone for Rs 513 crore - The Economic Times** — The two investors sold a combined 61.98 lakh shares on Thursday, representing a 4.07% stake in Bengaluru-based BlueStone Jewellery and Lifestyle, according to exchange data. — [Source](https://economictimes.indiatimes.com/tech/technology/accel-india-360-one-group-sell-over-4-stake-in-bluestone-for-rs-513-crore/articleshow/134480097.cms)
- 2026-09-25 — MONEYCONTROL: **IRDAI draft consultation paper: SBI Life 'Buy' best placed as EOM caps tighten, says Nomura** — IRDAI draft consultation paper, IRDAI, insurance, SBI Life, Policy Bazaar, Nomura — [Source](https://www.moneycontrol.com/news/business/stocks/irdai-draft-consultation-paper-sbi-life-buy-best-placed-as-eom-caps-tighten-says-nomura-14038131.html)
- 2026-09-25 — BUSINESSTODAY: **SBI Life, Max Fin, HDFC Life, LIC share price targets: IRDAI may need to revisit proposed cap, says Systematix** — SBI Life share price, Max Financial share price, HDFC Life share price, LIC share price, insurance stocks, life insurance stocks — [Source](https://www.businesstoday.in/markets/stocks/story/sbi-life-max-fin-hdfc-life-lic-share-price-targets-irdai-may-need-to-revisit-proposed-cap-says-systematix-557757-2026-09-25)
- 2026-09-25 — MONEYCONTROL: **IRDAI’s EoM reset: LIC, SBI Life Insurance, New India Assurance within proposed caps; private insurers face wider gap** — IRDAI EoM limits, IRDAI insurance distribution reforms, insurance EoM limits 2026, insurance distribution reforms 2026, LIC EoM ratio, SBI Life EoM ratio, New India Assurance EoM ratio, HDFC Life EoM ratio, ICICI Prudential Life EoM ratio, Max Life EoM ratio, Tata AIA EoM ratio, Bajaj Life EoM ratio, Birla Sun Life EoM ratio, Canara HSBC Life EoM ratio, ICICI Lombard EoM ratio, Bajaj General EoM ratio, Star Health EoM ratio, SBI General EoM ratio, HDFC Ergo EoM ratio, Go Digit EoM ratio, Niva Bupa EoM ratio, Chola MS EoM ratio, Aditya Birla Health EoM ratio, Acko EoM ratio, insurance commissio — [Source](https://www.moneycontrol.com/news/business/insurance/irdai-s-eom-reset-lic-sbi-life-insurance-new-india-within-proposed-caps-private-insurers-face-wider-gap-14037960.html)
- 2026-09-25 — Economic Times: **IRDAI's commission reset impact; ETSA winner Progcap’s next bet** — Happy Friday! IRDAI's overhaul plan could significantly impact the new-age insurance distribution industry. This and more in todays ETtech Morning Dispatch. — [Source](https://economictimes.indiatimes.com/tech/newsletters/morning-dispatch/irdais-policy-to-rattle-insurers-banks-etsa-winner-progcaps-next-bet/articleshow/134472995.cms)
- 2026-09-24 — Economic Times: **IRDAI proposal hits insurance stocks; FSSAI vs ecomm giants** — The insurance regulator has proposed new limits on commissions as part of a wider overhaul. This and more in todays ETtech Top 5. — [Source](https://economictimes.indiatimes.com/tech/newsletters/tech-top-5/insurance-policy-revamp-fssai-vs-ecomm-giants/articleshow/134463566.cms)
- 2026-09-24 — BUSINESSTODAY: **Biggest risk is regulatory risk...: Nithin Kamath warns fintech valuations face rule-change risk after IRDAI commission proposals** — Nithin Kamath, IRDAI commission proposals, regulatory risk, fintech valuations, insurance commissions, Zerodha brokerage, insurance distribution, fintech sector, business models, financial services — [Source](https://www.businesstoday.in/latest/corporate/story/biggest-risk-is-regulatory-risk-nithin-kamath-warns-fintech-valuations-face-rule-change-risk-after-irdai-commission-proposals-557647-2026-09-24)
- 2026-09-24 — Economic Times: **IRDAI proposals on insurance’s money machine leads to bloodbath for stocks: What happens to your money** — Insurance premiums may decrease if the Insurance Regulatory and Development Authority of India implements proposed commission changes. Proposed limits on commissions aim to reduce mis-selling and distribution costs in the insurance market. The changes could significantly impact banks, brokers, and digital distributors dependent on commissions for income. Insurers may need to adapt their distribution models in response to the proposed regulations. — [Source](https://economictimes.indiatimes.com/industry/banking/finance/insure/irdai-proposals-on-insurance-commission-leads-to-bloodbath-for-insurer-stocks-pb-fintech-max-life-sbi-life-what-happens-to-your-money/articleshow/134457957.cms)
- 2026-09-24 — MONEYCONTROL: **PB Fintech stock crashes 34%: This September put contract turned Rs 20,000 investment into Rs 75 lakh in one day** — PB Fintech, PB Fintech share price — [Source](https://www.moneycontrol.com/news/business/markets/pb-fintech-stock-crashes-34-this-september-put-contract-turned-rs-20-000-investment-into-rs-75-lakh-in-one-day-14037393.html)
- 2026-09-24 — BUSINESSTODAY: **PB Fintech shares crack 26% after Irdai consultation paper; is there more pain ahead?** — PB Fintech, PB Fintech shares, PB Fintech stock, Policybazaar, Paisabazaar, Irdai, Irdai consultation paper, insurance sector, insurance distribution, insurance commissions, Expenses of Management, EoM, Yashish Dahiya, insurance stocks, stock market today, share market today — [Source](https://www.businesstoday.in/markets/stocks/story/pb-fintech-shares-crack-26-after-irdai-consultation-paper-is-there-more-pain-ahead-557475-2026-09-24)
- 2026-09-24 — The Hindu: **Sensex, Nifty slide over 0.8% as rising crude, US bond yields rattle markets; financials lead losses** — HDFC Life Insurance was the top loser on the Nifty 50, falling 6.28% to ₹526.25 from a previous close of ₹561.50 — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty-slide-over-08-as-rising-crude-us-bond-yields-rattle-markets-financials-lead-losses/article71502720.ece)
- 2026-09-24 — MONEYCONTROL: **HDFC Life, ICICI Prudential Life shares plunge 7% as IRDAI commission proposals rattle insurers** — hdfc life insurance stock update, icici prudential life insurance share price today, insurance stocks crash, irdai insurance commission cap, life insurance stocks fall — [Source](https://www.moneycontrol.com/news/business/markets/hdfc-life-icici-prudential-life-shares-plunge-7-as-irdai-commission-proposals-rattle-insurers-14036984.html)
- 2026-09-24 — Economic Times: **Explained: Why PB Fintech, SBI Life, HDFC Life and other insurance stocks tanked up to 10% on Thursday** — IRDAI has proposed insurance distribution reforms, including a ban on dark patterns, lower Expense of Management limits and greater commission transparency. The changes could affect customer acquisition costs and distribution economics for insurers and insurance platforms. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/why-pb-fintech-sbi-life-hdfc-life-other-insurance-stocks-could-face-pressure-on-thursday/articleshow/134450720.cms)
- 2026-09-24 — BUSINESSTODAY: **Max Financial, ICICI Pru Life, HDFC Life, SBI Life shares tumble up to 10%; here's why** — HDFC Life share price, ICICI Pru Life share price, SBI Life share price, insurance stocks, why insurance stocks down today — [Source](https://www.businesstoday.in/markets/stocks/story/icici-prudential-life-hdfc-life-sbi-life-shares-tumble-up-to-10-heres-why-557442-2026-09-24)

## Business profile

**Strategic vision:** Private life insurer offering protection, pension, and savings plans.

### Business segments
- **Individual Life Insurance & Savings:** Offers individual term plans, Unit Linked Insurance Plans (ULIPs), and traditional endowment savings policies.
- **Group Insurance & Retirement Solutions:** Provides corporate employee term plans, loan-linked credit protection schemes, and immediate/deferred annuity retirement solutions.

### Competitive strengths
- Integration with State Bank of India's extensive retail branch network.
- Digital integration with SBI's YONO mobile banking application.
- Established agency network in regional and rural areas.

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## Freshness and sources

- Data as of: 2026-10-13
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/sbilife
Markdown representation: https://faxioms.com/stocks/sbilife?render=md