SBI Life and ICICI Life post record premiums and profit gains in FY2026

SBI Life Insurance reported a new‑business premium of ₹8,908 crore for the period ended 30 June 2026, up from ₹7,268 crore a year earlier, with regular premium rising 40% and protection premium doubling to ₹1,958 crore. The insurer’s profit after tax reached ₹725 crore, its solvency ratio stood at 1.96, and assets under management grew 10% to ₹5,24,850 crore.

ICICI Prudential Life Insurance announced a 27.8% year‑on‑year increase in net profit to ₹386 crore for the quarter ended June 2026. Retail protection (term) business surged 60.4% year‑on‑year, and the company achieved a 99.3% claim‑settlement ratio, settling death claims worth ₹1,306 crore and paying ₹3,360 crore in maturity and survival benefits. The board approved a rename to ICICI Life Insurance Limited, and the insurer plans to reinvest savings from a lower cost‑to‑premium ratio into technology and digital capabilities.