SBI Life Insurance reported a 1.09% decline in net profit to ₹804.6 crore for the January-March quarter of FY26, down from ₹813.5 crore in the same period last year. Despite this dip, the company's net premium income surged by 16% year-on-year, reaching ₹27,684 crore, reflecting a positive trend in the life insurance sector. The annualised premium equivalent (APE) also saw a 5.5% increase, totaling ₹5,750 crore. However, the value of new business (VNB) fell to ₹1,630 crore, with a corresponding margin of 28.35%, down from 30.6% in the previous year. Operational expenses increased by 25.42% to ₹2,527 crore, while net commission rose by 10.6% to ₹859.1 crore. Amit Jhingran, the managing director and CEO, highlighted a shift in customer preferences towards protection-oriented products, aided by regulatory measures and the exemption of GST on individual policies. The solvency ratio stood at 190%, well above the regulatory requirement of 150%, indicating the company's financial stability. The persistency ratios showed slight variations, with the 13th-month persistency at 87.9%, up from 87.4% last year.