SBI Life Insurance, headquartered in Mumbai, reported a 1% decline in net profit for the fourth quarter of FY26, amounting to ₹805 crore, down from ₹814 crore in the previous year. This decline was attributed to higher expenses and margin pressures, despite a robust 16% increase in net premium income, which reached ₹27,684 crore. The demand across various segments was bolstered by the removal of the Goods and Services Tax (GST). However, the annualised premium equivalent (APE) saw a modest rise of 5.5% to ₹5,750 crore, which fell short of market expectations. Additionally, the value of new business decreased to ₹1,630 crore, compared to ₹1,670 crore a year earlier. The company's VNB margin also weakened, contracting to 28.4% from approximately 30.5% in Q4 FY25, primarily due to shifts in product mix and rising cost pressures. The solvency ratio stood at 190%, down from 196% in the same quarter last year.