Page 15 - The Insurance Times March 2025

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short payment of Goods and Services
SBI Life net profit up 71% Tax (GST) for seven financial years.
SBI Life Insurance Company added 1.76% after the company reported The company has received a
71.19% increase in net profit to Rs 550.82 crore despite a 52.21% fall in communication/demand order for
total income to Rs 18,542.16 crore in Q3 FY25 over Q3 FY24.
interest and penalty for several states
The life insurer's net premium income grew by 11.25% YoY to Rs 24,827.54 on February 5, LIC said in a regulatory
crore in Q3 FY25. However, the company reported a loss of Rs 6,281.65 filing. The order is appealable before
crore from investments during the December quarter FY25, compared to the Commissioner (Appeals), Lucknow,
an income of Rs 16,468.64 crore in the same period of FY24. it said. The demand notice pertains to
The company's net worth grew by 15% YoY to Rs 16,590 crore in Q3 FY25 seven financial years between 2017-18
as compared to Rs 14,430 crore recorded in Q3 FY24. and 2023-24, it said.
SBI Life reported a robust solvency ratio of 2.04 as on 31 September 2024
as against the regulatory requirement of 1.50, indicating a strong financial 100% FDI in insurance to
position of the company. boost inflows: Moody's
Moody's Ratings has said it sees
Shriram Life Insurance crore, growing 21 per cent from significant foreign direct investment
the year before. The company expects flows into the insurance sector if govt
Company eyes 3-fold rise its AUM to cross Rs 15,000 crore in goes ahead with a proposal to increase
in AUM by '30 FY26. foreign direct investment to 100%
Shriram Life Insurance Company plans "We expect to grow three-fold rise in from 74%. This is coupled with
a three-fold rise in assets under our AUM by 2030, if we continue with improving margins for Indian insurers,
management (AUM) by 2030, growing the present growth of 20 per cent brought about by govt pressure on
from Rs 13,000 crore by focusing on CAGR (compound annual growth rate) public sector insurers, the listing of
rural India and using technology, said in the next five years," said Casparus J insurance companies, and the move
the top executive of the insurer. H Kromhout, managing director and toward newer tax rules.
The company's retail new business was chief executive officer, Shriram Life "Many markets still do not allow 100%
seen at Rs 865 crore in April-December Insurance. FDI in insurance. Wholly-owned
2024, growing 49 per cent over the subsidiaries give foreign companies
same period in the previous year. LIC gets Rs. 105 crore more incentive to deploy more
The company's Individual New Business notice for short payment resources. Many foreign insurers
APE, a focus area, grew 49 per cent - already present through joint ventures
faster than private industry (19 per of GST could seek to increase their stake,"
cent). Shriram Life's total premium for LIC said it has received a demand Mohammed Ali Londe, VP and senior
April-December 2024 stood at Rs 2,782 notice of about Rs 105.42 crore for analyst, told.

14 March 2025 The Insurance Times