SBILIFENSE24 July 2025

SBI Life Insurance Company Limited has informed the Exchange regarding a press release dated July 24, 2025, titled "Press Release & Investor Presentation Performance for the Quarter ended June 30, 2...

SBI Life Insurance Company Limited

July 24, 2025 SBIL/CS/NSE-BSE/2526/59

General Manager

Vice President Listing Department, National Stock Exchange of India Limited, Exchange Plaza, Plot No. C/1, G Block, BKC, Bandra (East), Mumbai 400051 NSE Symbol: SBILIFE BSE Scrip Code: 540719

Listing Department, BSE Limited,

Mumbai 400001

Dalal Street,

Phiroze Jeejeebhoy Towers,

Dear Sir / Madam,

Subject: Press Release & Investor Presentation – Performance for the Quarter ended June 30, 2025

Pursuant to the provisions of Regulation 30(6) read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a copy of the press release and investor presentation being issued in connection with performance of the Company for the quarter ended June 30, 2025, is enclosed. The above information is also made available on the Company’s website at www.sbilife.co.in

We request you to kindly take the above information on record.

Thanking You,

Yours faithfully,

Girish Manik Company Secretary ACS No. 26391

Encl: A/a

SBI Life Insurance Company Ltd. Registered and Corporate Office: Natraj, M.V. Road and Western Express Highway Junction Andheri (East), Mumbai 400 069. Tel.: (022) 6191 0000/ 3968 0000 IRDAI Regn. No. 111. CIN: L99999MH2000PLC129113

www.sbilife.co.in

Public

News Release BSE Code: 540719

July 24, 2025

NSE Code: SBILIFE

Performance for the quarter ended June 30, 2025

• Private Market leadership in IRP & Ind. NBP with market share of 22.3% & 25% respectively

• Annualized Premium Equivalent (APE) stands at ` 39.7 billion with growth of 9%

•

Individual New Business Sum Assured stands at ` 666.3 billion with 73% growth

Improvement in 13M & 61M persistency by 58 bps & 501 bps respectively6

• Value of New Business (VoNB) stands at ` 10.9 billion with growth of 12%

• VoNB Margin stands at 27.4%

•

Indian Embedded value (IEV) stands at ` 742.6 billion with growth of 20%

• Profit After Tax (PAT) stands at ` 5.9 billion with 14% growth

• Robust Solvency ratio of 1.96

• Assets under Management stands at ` 4.8 trillion with 15% growth

Key measures of performance

Particulars Revenue Parameters New Business Premium (NBP) Renewal Premium (RP) Gross Written Premium (GWP) Individual New Business Premium (Ind. NBP) Individual Rated Premium (IRP) Annualized Premium Equivalent (APE) Private Market Share based on IRP1 APE Product mix (%) (Par/Non Par/ULIP) APE Channel mix (%) (Banca/Agency/others) Financial Parameters Profit after Tax (PAT) Net Worth Assets under Management (AuM) IEV, VoNB and VoNB Margin2 Indian Embedded Value (IEV) IEV per Share Value of New Business (VoNB) VoNB per Share (in `) (VoNB / Number of Shares) New Business Margin (VoNB Margin)

Q1-FY 2026

Q1-FY 2025

YoY

(` in billion)

72.7 105.5 178.1 49.4 34.7 39.7 22.3% 5/38/57 58/27/15

5.9 178.3 4,758.1

742.6 740.8 10.9 10.9 27.4%

70.3 85.4 155.7 47.5 32.2 36.4 22.4% 4/35/61 59/30/11

5.2 155.7 4,147.7

618.6 617.6 9.7 9.7 26.8%

3% 24% 14% 4% 8% 9% - - -

14% 15% 15%

20% - 12% - -

13th month persistency 25th month persistency 37th month persistency 49th month persistency 61st month persistency

Particulars Key Financial Ratios Operating expense ratio3 Commission ratio4 Total cost ratio5 Persistency Ratios - Premium Basis (Regular Premium/ Limited Premium payment under individual category) 6&7

Q1-FY 2026

Q1-FY 2025

YoY

6.3% 4.4% 10.8%

6.1% 4.4% 10.5%

- - -

- - - - - - -

87.12% 77.44% 71.96% 68.40% 62.80% 1.96 13.7%

86.54% 77.36% 71.50% 72.67% 57.79% 2.01 13.6%

Solvency Ratio Return on Equity (RoE) 1. Source: Life insurance council 2. 3. Operating expense ratio = Operating expenses / Gross Written Premium (GWP) 4. Commission ratio = Commission (including rewards) / Gross Written Premium (GWP) 5. Total cost ratio = (Operating expenses + Commission + Provision for doubtful debt and bad debt written off) /GWP 6. The persistency ratios are calculated as per IRDAI circular IRDAI/NL/MSTCIR/RT/93/6/2024 dated June 14, 2024.

IEV, VoNB and VoNB Margin for Q1 FY 26 have been reviewed by Independent Actuary.

Persistency Ratios for the period ended June 30, 2025 and June 30, 2024 are 'Upto the Quarter' Persistency calculated using policies issued in June to May of the relevant years.

7. Figures of the previous period have been regrouped/ reclassified/ restated wherever necessary, in order to make them comparable.

N.B: Refer the section on definitions, abbreviations and explanatory notes.

The Board of Directors of SBI Life Insurance Company Limited approved and adopted its audited financial results for the quarter ended June 30, 2025, following its meeting on Thursday, July 24, 2025 in Mumbai. The disclosure of financial results submitted to exchanges is annexed to this release.

Managing Director & CEO’s Statement:

Amit Jhingran, MD & CEO of SBI Life stated: In Q1 FY 2026, the Company is able to achieve favorable shift in our product mix towards protection solutions and guaranteed non-par savings, reflecting evolving customer preferences and our strategic focus. There has been remarkable growth in New Business Sum Assured mainly due to growing awareness of customer towards financial security and fulling dreams of their loved ones. The growth in renewal premium along with improvement in our 13th and 61st month persistency ratios reflects strengthening of our customer relationships and the overall quality of our business.

Business growth and market share

• The Company has maintained its leadership position in Individual Rated Premium of ` 34.7 billion with

22.3% private market share in Q1 FY 26.

• Growth in Individual New Business Premium by 4% to ` 49.4 billion in Q1 FY 26.

• Protection New Business Premium stands at ` 9.8 billion in Q1 FY 26.

• Gross Written Premium (GWP) has grew by 14% to ` 178.1 billion in Q1 FY 26 mainly due to 12% growth

in New Business Regular Premium and 24% growth in Renewal Premium (RP) in Q1 FY 26.

Distribution network

• The Company has strong distribution network of 323,838 trained insurance professionals consisting of

Agents, CIFs and SPs along with widespread operations with 1,146 offices across country.

• The Company has diversified distribution network comprising of strong bancassurance channel, agency channel and others comprising of corporate agents, brokers, micro agents, common service centers, insurance marketing firms, web aggregators and direct business.

• APE channel mix for Q1 FY 26 is bancassurance channel 58%, agency channel 27% & other channels 15%.

•

Individual NBP of Agency channel has increased by 4% to ` 13.3 billion in Q1 FY 26 and Individual NBP of Other channel has increased by 16% to ` 8.2 billion in Q1 FY 26 as compared to same period last year.

Cost Efficiency

• Total Cost ratio for Q1 FY 26 is 10.8% vis-à-vis 10.5% for Q1 FY 25

▪ Commission ratio for Q1 FY 26 and Q1 FY 25 is 4.4%.

▪ Operating Expense ratio for Q1 FY 26 is 6.3% vis-à-vis 6.1% in Q1 FY 25.

Profitability

• Profit after Tax (PAT) grew by 14% to ` 5.9 billion for Q1 FY 26.

• VoNB increased by 12% to ` 10.9 billion for Q1 FY 26.

• VoNB margin stands at 27.4% in Q1 FY 26.

Persistency

• Strong growth in 13th month and 61st month persistency (based on premium considering Regular Premium/

Limited Premium payment under individual category) in Q1 FY 26 by 58 bps and 501 bps respectively

due to our focus on improving the quality of business and customer retention.

Assets under Management

• AuM grew by 15% from ` 4,147.7 billion as on June 30, 2024 to ` 4,758.1 billion as on June 30, 2025

with debt-equity mix of 60:40. Approx. 94% of the debt investments are in AAA and Sovereign

instruments.

Financial position

• The Company’s net worth increased by 15% from ` 155.7 billion as on June 30, 2024 to ` 178.3 billion

as on June 30, 2025.

• Robust solvency ratio of 1.96 as on June 30, 2025 as against the regulatory requirement of 1.50 indicating

strong financial position of the Company.

Definitions, abbreviations and explanatory notes

• New Business Premium (NBP): Insurance premium that is due in the first policy year of a life insurance

contract or a single lump sum payment from the policyholder.

• Annualized Premium Equivalent (APE): The sum of annualized first year premiums on regular premium policies, and 10% of single premiums, written by the Company during the fiscal year from both retail and group customers.

• Individual New Business Premium (Ind. NBP): Insurance premium that is due in the first policy year of

an individual life insurance contract.

• Individual Rated Premium (IRP): New business premiums written by the Company under individual

products and weighted at the rate of 10% for single premiums.

• Renewal Premium: Life insurance premiums falling due in the years subsequent to the first year of the

policy.

• Indian Embedded Value (IEV): The measure of the consolidated value of shareholders’ interest in the covered life insurance business, which is all life insurance business written by the Company since inception and inforce as on the valuation date (including lapsed business which have the potential of getting revived). The Embedded Value of the Company has been determined on the basis of the Indian Embedded Value (IEV) Methodology calculated as per APS 10 set forth by the Institute of Actuaries of India (IAI).

• Value of New Business (VoNB): VoNB is the present value of expected future earnings from new policies written during a specified period and it reflects the additional value to shareholders expected to be generated through the activity of writing new policies during a specified period.

• Value of New Business Margin / VoNB Margin: VoNB Margin is the ratio of VoNB to New Business Annualized Premium Equivalent for a specified period and is a measure of the expected profitability of new business.

• Solvency Ratio: Solvency ratio means ratio of the amount of Available Solvency Margin to the amount of Required Solvency Margin as specified in form-KT-3 of IRDAI Actuarial Report and Abstracts for Life Insurance Business Regulations.

• Net worth: Net worth represents the shareholders’ funds and is computed as sum of share capital and reserves (including share premium but excluding employee stock options outstanding account), share application money and fair value change account net of debit balance in profit and loss account.

About SBI Life Insurance

SBI Life Insurance (‘SBI Life’ / ‘The Company’), one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001.

Serving millions of families across India, SBI Life’s diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions.

Driven by ‘Customer-First’ approach, SBI Life places great emphasis on maintaining world class operating efficiency and providing hassle-free claim settlement experience to its customers by following high ethical standards of service. Additionally, SBI Life is committed to enhance digital experiences for its customers, distributors and employees alike.

SBI Life strives to make insurance accessible to all, with its extensive presence across the country through its 1,146 offices, 27,040 employees, a large and productive network of about 253,799 agents, 62 corporate agents and 9 bancassurance partners with more than 41,000 partner branches, 150 brokers and other insurance marketing firms.

In addition to doing what’s right for the customers, the company is also committed to provide a healthy and flexible work environment for its employees to excel personally and professionally.

SBI Life strongly encourages a culture of giving back to the society and has made substantial contribution in the areas of child education, healthcare, disaster relief and environmental upgrade. In 2024-25, the Company touched over 53,000 direct beneficiaries through various CSR interventions.

Listed on the Bombay Stock Exchange ('BSE') and the National Stock Exchange ('NSE'), the company has an authorized capital of ` 20.0 billion and a paid up capital of ` 10.0 billion. The AuM is ` 4,758.1 billion.

For more information, please visit our website-www.sbilife.co.in and connect with us on Facebook, Twitter, YouTube, Instagram, and Linkedin.

(Numbers & data mentioned above are for the period ended June 30, 2025)

Disclaimer

Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will', ‘expected to’, etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the actual growth in demand for insurance and other financial products and services in the countries that we operate or where a material number of our customers reside, our ability to successfully implement our strategy, including our use of the Internet and other technology our exploration of merger and acquisition opportunities, our ability to integrate mergers or acquisitions into our operations and manage the risks associated with such acquisitions to achieve our strategic and financial objectives, our growth and expansion in domestic and overseas markets, technological changes, our ability to market new products, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to implement our dividend policy, the impact of changes in insurance regulations and other regulatory changes in India and other jurisdictions on us. SBI Life Insurance Company Limited undertakes no obligation to update forward looking statements to reflect events or circumstances after the date thereof.

This release does not constitute an offer of securities.

For investor queries please call Sangramjit Sarangi at + 91 22 6191 0281 or email investorrelations@sbilife.co.in

For further press queries please call Santosh Setty at +91-22-6191 0034 / Minakshi Mishra at +91-22-6191 0140 or email santosh.setty@sbilife.co.in / minakshi.mishra@sbilife.co.in

(`1 billion (bn) = ` 100 crore; `1 trillion = ` 1 lakh crore)

Performance Update | Q1 FY26 July 2025

Contents

Performance Update | Q1 FY26

Key Indicators and Highlights

Focus Areas and Initiatives

Annexure

Company Overview

Macro Economic Indicators and Industry Overview

Performance Update | Q1 FY26

Key Indicators and Highlights

Well positioned to maintain steady growth and long-term consistent returns

Trained Human Capital

Technological Innovation

Diverse Distribution

Financial Strength

Customer Centricity

Sustainable Value Accretion

3.2 lacs

Insurance personnel, focus on need-based selling

99.3%

Individual applications submitted digitally

1,146

Offices with strong distribution channels

1.96x

Solvency Ratio

98.4%

Overall Death Claim Settlement Ratio

₹10.9 bn

Value of new business generated

Driven by strong brand, solid governance and committed employees

Performance Update | Q1 FY26

Key Indicators and Highlights

Well positioned to maintain steady growth and long-term consistent returns in key indicators

New Business Premium

New Business APE

Profit After Tax

₹72.7

Renewal Premium

₹105.5

24%

19%

CAGR

18%

CAGR

₹34.7

₹39.7

₹5.9

14%

26%

CAGR

Individual Rated Premium

Value of New Business & Margin1

₹ In billion

CAGR

27.4%

VoNB Margin

Gross Written Premium

Individual Sum Assured

₹178.1

14%

₹666.3

73%

18%

CAGR

₹10.9

12%

Embedded Value1

₹742.6

20%

27%

CAGR

36%

CAGR

Performance Update | Q1 FY26

1. Embedded Value and VoNB methodology, assumptions and the results have been reviewed by Willis Towers Watson Actuarial Advisory LLP CAGR numbers are calculated for a period of 5 years from Jun’20 to Jun’25. Numbers are rounded off to nearest one decimal

Y-o-Y growth

Performance Update | Q1 FY26

Company Overview

Delivered consistent and sustainable growth over the years

₹ in billion

Covid 19 Economic downturn triggered

Budget 2021 No tax exemption on high ticket size ULIPs

Budget 2023 No tax exemption on Non-ULIPs

Surrender Value Regulation

Growth >

11%

39%

15%

CAGR

3 year > 15% 5 year > 15% 7 year > 14% 10 year > 20%

Private IRP >

Share in Private >

Industry IRP >

Share in Industry >

FY15

200 15.6%

408 7.7%

FY17

287 20.7%

532 11.2%

102

FY19

401 22.3%

692 12.9%

FY21

452 22.6%

757 13.5%

18%

152

FY23

684 22.3%

1,040 14.6%

12%

194

FY25

850 22.8%

1,204 16.1%

Over 10 years

6x SBIL > Private > 4x Industry > 3x

Performance Update | Q1 FY26

Graph is on IRP basis; Data as per Life Council Disclosures

Company Overview

Covering lives and persistently delivering growth in Gross Written Premium

Gross Written Premium

₹ in billion

Individual Sum Assured

673.2

814.3

849.8

155.7

178.1

377.3

86.8

209.1

FY23

431.9

144.1

238.3

FY24

494.1

92.2

263.6

85.4

22.8

47.5

105.5

23.3 49.4

FY25

Q1 FY25

Q1 FY26

14%

24%

2,769

1,718

1,940

₹ in billion

73%

385

666

Individual NBP

Group NBP

Renewal Premium

FY23

FY24

FY25

Q1 FY25

Q1 FY26

Individual New Policies

in million

Inforce Lives

in million

2.2

2.3

2.2

80.2

73.9

71.6

53.6

FY23

FY24

FY25

Q1 FY25

Q1 FY26

FY23

FY24

FY25

Q1 FY25

Q1 FY26

0.4

Performance Update | Q1 FY26

Y-o-Y growth

Company Overview

Reaching wider, penetrating deeper across all demographics

NBP

Individual NBP

295.9

382.4

355.8

70.3

72.7

209.1

238.3

263.6

47.5

49.4

60%

19%

21%

FY23

NBP

52%

18%

31%

FY24

54%

21%

24%

FY25

51%

21%

28%

48%

19%

34%

Q1 FY25

Q1 FY26

Banca

Agency

Others

Channel Mix

67%

64%

59%

58%

57%

23% 10% FY23

23% 13%

FY24

27%

14%

FY25

27%

15%

27%

17%

Q1 FY25

Q1 FY26

Individual NBP

₹ in billion

Banca

Agency

Others

12%

11%

12%

10%

13%

Protection Share

38%

36%

59%

3% FY23

62%

2% FY24

46%

52%

2% FY25

40%

38%

58%

59%

2% Q1 FY25

2% Q1 FY26

ULIP

Non-Par

Par

Segment Mix

53%

42%

5% FY23

58%

61%

58%

55%

39%

3% FY24

36%

3% FY25

39%

41%

3% Q1 FY25

3% Q1 FY26

Performance Update | Q1 FY26

Components may not add up to total due to rounding off

ULIP

Non-Par

Par

Company Overview

Quality and scale of multichannel distribution platforms making penetration seamless

Pillars of Distribution Network

Bancassurance

Agency

Institutional Alliance

Direct and Corporate

27,500+ SBI and RRB Banks Branches

2,50,000+ Agents (Gross addition of +27%)

14,000+ Partner Branches

28% NBP share in Total Industry1

31% NBP share in Private Market1

150 Brokers

₹48 lacs SBI Productivity per branch2 with 59K+ CIFs ; Individual APE basis ₹38 lacs (+7%)

59% Share in Individual NOPs

99.9% Business sourced digitally

₹2 lacs Agent Productivity2; Individual APE basis ₹2 lacs (+3%)

10,946 Specified Persons

34% Share in Individual NOPs

99.9% Business sourced digitally with 1.5mn uploads on Smart Advisor

62 Corporate Agents

24% Share of NPS in Annuity Business

Top 3 in Private Industry Fund Business

Dedicated Call Centers for website sales and services

Multilinguistic website in 10 languages to make buying easy

Lead Management ecosystem – Assignment, Nurturing and Monitoring

Performance Update | Q1 FY26

1. Based on public disclosures for FY25; 2. Productivity per branch/agent is based on Individual NBP. All growth/drop numbers are with respect to Q1 FY26 over Q1 FY25.

Company Overview

Basket of products catering varied customer needs

₹ in billion

Product Mix1

FY23

FY24

FY25

Q1 FY25

Q1 FY26

YoY Growth

Mix Q1 FY26

Individual Savings

157.5

178.1

207.8

35.7

36.5

Par

9.5

8.0

7.5

1.4

Non-Par

36.7

32.3

38.3

6.8

1.7

7.4

ULIP

111.4

137.8

162.0

27.5

27.4

Protection

36.4

41.7

41.0

7.2

Individual

10.0

9.5

Group

26.4

32.1

7.9

1.5

5.7

Annuity

49.7

60.2

52.4

11.5

Group Savings

52.3

102.4

54.6

16.0

Total NBP

295.9

382.4

355.8

70.3

9.8

1.7

8.1

12.4

14.0

72.7

19%

10%

36%

10%

43%

(13%)

Performance Update | Q1 FY26

1. New business premium basis; Components may not add up to total due to rounding-off

50%

10%

38%

13%

11%

17%

19%

36.5

11.1

Q1 FY21

Q1 FY26

Protection

CAGR

27%

9.8

2.9

Q1 FY21

Q1 FY26

CAGR

27%

Annuity

12.4

5.2

Q1 FY21

Q1 FY26

CAGR

19%

Company Overview

Product portfolio suitable for a wide demographic range and income levels

Average Age % Share in Policies

Basket of products catering different age brackets and life stage needs

Child Education

Care-Free Retirement

Wealth Creation

Family Protection

Financial Security

13%

29%

25%

27%

Smart Scholar Plus

Retire Smart Plus

Smart Elite Plus

Smart Shield Premier

Smart Platina Plus

Smart Platina Young Achiever

Smart Annuity Plus

Smart Privilege Plus

eShield Insta

New Smart Samriddhi

Smart Future Star

Smart Annuity Income

Smart Fortune Builder

eShield Next

eWealth Plus

Smart Swadhan Neo

Smart Platina Assure

Smart Lifetime Saver

Smart Platina Supreme

Smart Bachat Plus

Performance Update | Q1 FY26

The product list is only indicative and not exhaustive

Company Overview

Driving sustainable growth with high levels of efficiencies to maintain profitability and creating value

₹ in billion

Opex Ratio: Maintaining Cost Efficiency | Total Cost Ratio1

Profit After Tax: Consistent growth in profit

9.6%

8.9%

9.7%

10.5%

10.8%

5.1%

4.9%

5.3%

6.1%

6.3%

17.2

18.9

24.1

FY23

FY24

FY25

Q1 FY25

Q1 FY26

FY23

FY24

FY25

Q1 FY25

Q1 FY26

5.2

5.9

Solvency: Cushioned to support future growth prospects

Net Worth: Zero debt company with healthy reserves

2.15

1.96

2.01

1.96

130.2

149.1

169.8

155.7

178.3

FY23

FY24

FY25

Q1 FY25

Q1 FY26

FY23

FY24

FY25

Q1 FY25

Q1 FY26

Performance Update | Q1 FY26

1. Total cost ratio is operating expenses including commission, provision for doubtful debts and bad debts written off divided by Gross Written Premium; Components may not add up to total due to rounding off.

Company Overview

Deeper relationship with customers through quality underwriting and strong sales ethos

Persistency1 (%)

FY24

FY25

Q1 FY25

Q1 FY26

13th Month

25th Month

37th Month

49th Month

61st Month

86.8

87.4

86.5

87.1

77.3

77.7

77.4

71.0

72.1

71.5

72.0

72.4

68.0

72.7

68.4

57.4

62.7

57.8

62.8

Surrender Ratio2

Unfair Business Practice3

Grievance Ratio3

6.5%

6.2%

6.3%

0.04%

0.03%

5.6%

0.02%

FY24

FY25

Q1 FY25

Q1 FY26

FY24

FY25

Q1 FY25

Q1 FY26

FY24

FY25

Q1 FY25

Q1 FY26

Performance Update | Q1 FY26

1. The persistency ratios are calculated as per IRDAI circular IRDAI/NL/MSTCIR/RT/93/6/2024 dated June 14, 2024. Regular Premium and Limited Premium Paying Term policies of only

Individual SegmentPersistency is calculated for rolling 12 months. Ratios for June are calculated using policies issued 1st June to 31st May period & for March from 1st March to February period of the relevant years.

2. Surrender Ratio ‒ individual linked products (Surrender/Average AuM); 3. Number of grievances with respect to unfair business practice as compared to policies issued in the same period. Grievances ratio is per 10,000 policies

Company Overview

VoNB Margin %

26.8%

9.7

0.9

0.6%

0.3%

(0.3%)

27.4%

0.3

0.1

(0.1)

10.9

₹ in billion

Q1 FY25

Impact of Business Volume

New Business Mix & Profile *

Change in Operating Assumptions

Change in Economic Assumptions #

Q1 FY26

VoNB grew by 12% from ₹9.7 billion to ₹10.9 billion

Performance Update | Q1 FY26

*Impact of change mainly in Business mix and profile (Age, Term, Channel, etc.); #Risk free rate change

Company Overview

Relentless pursuit for excellence leading to robust financial position

₹ in billion

AUM Linked | Non-Linked

Linked

Non-Linked > Debt:Equity

Composition of Asset Under Management

3,889

4,480

4,148

4,758

44%

>91:9

45%

>90:10

44%

>90:10

44%

>90:10

56%

>43:57

55%

>39:61

56%

>40:60

56%

>37:63

FY24

FY25

Q1 FY25

Q1 FY26

₹4,758 bn

Asset Under Management

Government securities

Debentures and bonds

Equity

Others

Money market instruments

4% 2%

25%

29%

40%

Investment Performance1 (%)

Fund

Benchmark

19.8

19.9

17.0

17.1

18.7

17.1

17.9

17.1

16.4

15.9

94%

Debt Investments (AAA and Sovereign)

60:40 Debt Equity Ratio

Equity Pension II

Equity Elite II

Equity Optimiser

Top 300

Growth

15% AUM Growth

Performance Update | Q1 FY26

1. 5-year CAGR as of June; Components may not add up to total due to rounding-off

Performance Update | Q1 FY26

Focus Areas and Initiatives

Elevating the customer experience by implementing a range of initiatives at every touchpoint

Widespread distribution network and product suite to cater different needs

Disciplined Business Focus

Customer Engagement

Digital Capabilities

Operational Efficiencies

Leveraging Best in class operating ratios

• 1,146 offices (39% in rural and semi-urban areas) and 41K+ branches of distributors

• 25 individual and 8 group products to cater different needs of the customer

• 0.4mn policies issued, with share of 22.8% in private market

• 4.4 mn new lives with Sum Assured ~₹2,730.8 bn

• 812K+ times customers served using WhatsApp services

• Policy document through WhatsApp chat bot for customers

• Focus on cutting edge

• 98% of Renewals collected

technology for enabling business

through Digital Mode

• Video MER –

• RPA - 385 bots deployed

for enhanced convenience

across 286 processes and 1,200 work tasks automated

Use of analytics enabling better customer engagement

• 100K+ Audio PIWC and

• Surrender Prevention tools

300K+ Video PIWC

for personalized outputs

• 2.5 lacs+ Queries resolved

• Digital submission of

through call centre

Claims documents eMHR

• Customer Grievances – 5 per 10,000 policies

• Account Aggregator –

FIU and FIP

• Winner in “Customer and Market Focus” category in IBPC Awards

• 102K+ individual protection

policies sold digitally

Harnessing technology in strengthening business

• Real Time Integration – with TPA for faster transmission of medical reports

• One of the lowest cost ratios in the industry

• 34K+ Death Claims settled

ease to customers for document submissions

Performance Update | Q1 FY26

MER - Medical Examination Reports, MHR - Moral Hazard Report, PIWC - Pre Issuance Welcome Call, RPA - Robotic Process Automation TPA - Third party Administrator, FIU - Finance Intelligence Unit, FIP - Financial Information Provider

Focus Areas and Initiatives

Understanding Customer Needs

Transparent Communication

Seamless Digital Experience

Proactive Engagement and Service Excellence

Upholding Trust and Delivering Long-Term Value

Holistic Profiling via Digital Journey • Captures Life-stage, Demography, Risk Appetite

and Financial Goals

• Data-driven precision in Need Analysis and Risk Profiling

Power by Smart Algorithm • Recommends products based on customer life-stage,

needs and risk profile

• Product recommendation powdered by Smart Algorithm

Transparency in Benefit Illustration • Year-wise breakdown of expenses & commissions with

disclosures & benefits projection at IRDAI-mandated 4% and 8% per annum

Product Details • Policy terms explained in simple language • Explicit customer consent taken

In-App Digital Purchase • Purchase followed by Pre-Issuance verification (PIV) • Enhances convenience, transparency and trust

Pre-Issuance Verification (PIV) • PIV in 14 Languages • Option to select Phone Call | Insta PIV • Enhanced PIV mandatory for select products and

customer profiles

Quality Assurance • Photo match with Customer’s Live photo / KYC in Insta PIV • Reinforcing clarity about the product • Reiterating key benefits

Compliance • Regulatory compliant, ethical selling practices support

informed purchase decisions

Performance Update | Q1 FY26

Enhanced PIV – Insta + Video

Focus Areas and Initiatives

Understanding Customer Needs

Transparent Communication

Seamless Digital Experience

Proactive Engagement and Service Excellence

Upholding Trust and Delivering Long-Term Value

Free-Look Cancellation Option • Offering the assurance of Free-Look Cancellation (FLC) • Risk-free experience

Net Promoter Score (NPS) Survey • NPS feedback on purchase experience • Data-Driven Action on NPS to address customer concerns

and journey enhancements

Governance • PIV transcript and images shared with customers

Digitalisation • Seamless customer journey with robust digital platform

Renewal Persistency • Persistency Risk score for predictive insights and

advanced interventions Interactive Video based customer engagement education

•

Customer Self-Servicing • Multi modal options: Mobile app, Web portal, Chatbot,

WhatsApp, SMS, Missed Calls, IVR Tollfree 24x7 In-person servicing through Branches

•

Post Purchase Policy Servicing • WhatsApp and Email based personalized communication • AV tools for increased engagement and premium payment

Grievance Redressal Mechanism Industry Expert as Internal Ombudsman: first in industry • • Retired HC Judge heads Claims Redressal Committee • CFIC Policy-driven Investigations, action & penalties

Performance Update | Q1 FY26

Focus Areas and Initiatives

Streamlining processes and embracing technology to captalise on opportunities

Becoming a digital-first organisation

01 Performance

02 Processes

03 Product Improvements

04 Stakeholder-Centric

• Providing insurance cover to remotest

• Agility to handle high volumes

• Faster product rollouts

areas, resulting in increased penetration (presence in 28 states and 7 union territories with 31% policies sold in rural areas for Q1 FY26)

• Best in class digital tools for better risk assessment and risk management

and peak demand

• Structured MIS to help in decision- making and enable regulatory reporting requirements

• Data Analytics enabling cross sell,

upsell and customer retention

• AI and Machine Learning aiding to provide efficient customer solutions

• Expanded product offerings

• Lower turn-around-time

• Better servicing

• Providing appropriate insurance

solutions with enriched experience

• Enabling hybrid work environment

• Supporting 27K+ employees and

323K distributors

• Faster integration with partners

Performance Update | Q1 FY26

Focus Areas and Initiatives

Leveraging the power of digital technologies to improve efficiency

Agility • Strategic collaborations (YONO branch

portal, KVP, India Post, etc.)

• Adopting new technology

and products

Flexibility • 914 varied product features built

• 8 products in group policy system with

different versions

Robustness • Stronger digital capabilities with

40+ digital apps and 7 analytics tools

• Robust cybersecurity practices

800

BitSight Score

Customer at the core

Scalability • Supporting double digit growth of NBP

and renewal premiums

• Efficient handling of service requests

People-Oriented • 24x7 connectivity for WFH

• 170 active training Modules in E-Shiksha

• Digital onboarding

Resulting in increased efficiency, increased productivity, lower cost and improved customer experience

71.6 mn

Servicing Inforce Lives

~4 hrs

Average training hours on E-Shiksha per employee

30+ digital services

Smart Care - Bespoke customer self-servicing app

99.3%

Digital adoption for sourcing new business

Performance Update | Q1 FY26

Focus Areas and Initiatives

Digital first to deliver convenient and hassle-free experience with one of the best infrastructure and security framework

IT Service Desk and Central IT Monitoring System

Data Loss Prevention with Data Classification

Enterprise Service Bus and API

Secure Code Review and Github

Centralised IT Service Management, Digital Onboarding Workflow, IT Asset Management and IT Compliance Management

Protection of Personal identifiable Information of customer. Compliance requirement of Digital Personal Data Protection Act

Common Service platform for consumption by multiple application with secure and scalable way

Secure by Design principle to ensure applications are designed with security framework

One view dashboard for critical application monitoring (Uptime, performance and transactions)

IT Enablers

Application Controlled Infrastructure at Data Center

Cutting edge Switching technology with lowest latency over network to deliver best performance of application

SDWAN for Branch Network Latest WAN technology to bring visibility, remediation and automation to improve productivity of branches

EDR and XDR for Proactive Threat Protection Protection of IT Assets from day zero, ransomware and unknown threat and attacks

Unified Email System with Compliance Archival Single email domain across company with tamper-proof email archival system

Key Metrics

100%

Customer emails enquiries handled by email bot

1,200

Tasks (RPA)

30+

Self-servicing facilities for customers

286

Process automated

10+

Live automated modules across operational processes for risk mitigation

Performance Update | Q1 FY26

EDR: Endpoint Detection and Response XDR: Extended Detection and Response SDWAN : Software-Defined Wide Area Network API : Application Programming Interface

Focus Areas and Initiatives

Supporting with avenues and platforms to foster growth and simplify processes

Establishing a robust distributor ecosystem

Initiatives

Key Metrics

135 reports on Aaram Nxt (Anytime, Anywhere reporting and more) and 40 on Aasaan BI (MIS & Business intelligence tool)

Integrated M-Connect with campaign products and Need Assessment and Suitability Analysis

Group platform revamped with intuitive interface, making navigation smoother and user friendly

EIA dashboard in Smart Advisor

Smart Advisor updates IA account details

Seamless new partner Integration – single platform for all partners

Digi LM recruitment - Home page is now available 10 different regional language

95% KPI reports delivered by start of business hours

Smart Care service deep links are embedded in CRM and Smart Advisor to digitalize our assisted servicing touch-points

Campaign self updates at fingertips

Personalized Website for more than 155,000 Agents

Grievance Redressal for IA through Smart advisor

Predictive Analytics - 27 live data models across policy life cycle aiding support to distributors

Aasan BI

Performance Update | Q1 FY26

Focus Areas and Initiatives

Ensuring seamless and hassle-free experience throughout the customer life cycle

Prospecting

Onboarding

Underwriting and Issuance

Executing a focused strategy to evolve it into a need-based customer-centric process

Enhancing the process for greater efficiency, accessibility, and a seamless experience

Improving accuracy and efficiency of underwriting and policy issuance

9mn Clicks on SBI Life Website

64k+ Yono Lives

697k+ PaisaGenie Customers

7+ Partner Apps

1,360k+ Bitly (Upsell / Cross Leads)

5mn+ Unique Users in Smart Care

90k+ Active Users and 417K Proposals in M-Connect

3,488 Login Count in NPS Parivartan

500k Downloads with 1.5mn+ uploads in Smart Advisor

2,114k+ Cases Issued in NB Workflow

1,965k+ Transaction in Ingenium

36mn Individual Transactions in RENOVA

4mn Lives in BaNCS

747k+ Portal / CMI

Outcome

74% Digital KYC

<10 mins For customer onboarding

75% Insta PIWC

99% E – IA

Performance Update | Q1 FY26

E – IA: Electronic Insurance Account

Focus Areas and Initiatives

Ensuring seamless and hassle-free experience throughout the customer life cycle

Policy Serving

Renewals

Claim Payouts

Dual benefits of offering personalised services while also streamlining internal processes

Automating tasks, whilst utilising data and insights to optimise our renewal strategy

Accelerating claims settlements, enhancing transparency, while up- holding data security

812k+ WhatsApp Registrations

428k+ Servicing Requests handled through CRM

380k+ Pay Service Transactions

14mn Service Requests (eKYC, CIBIL, Data Vault)

1,000k+ Smart Care Downloads

125k+ IVRS Self Service Option

4mn Renewal Receipts on WhatsApp

262k+ E-Sampark Requests Handled

96k+ I-Pay Requisitions

141k+ Apex Payouts

1,965k+ Claim Transactions in Ingenium

638k+ E-Pravah Claims

Outcome

19% reduction Non-Medial Issuance TAT

11% reduction Overall Issuance TAT

82% 0-2 Days Individual Issuance

62% Automated Underwriting

Performance Update | Q1 FY26

Macro Economic Indicators and Industry Overview

Strong demographic tailwinds supporting India growth story

Composition of Population1 (%)

Life Insurance Penetration2 (Premium as % of GDP)

Life Insurance Density2 (US$)

6.9

49.8

18.0

25.3

2022

8.8

52.7

16.2

22.3

2030

11.6

54.4

14.0 20.1

2040

15.0

54.0

13.0 18.0

2050

6,264

425

244

274

0-14yrs

15-24yrs

25-64yrs

65+yrs

Singapore Malaysia Thailand

India

China

Indonesia

Singapore Malaysia Thailand

India

China

Indonesia Philippines

Advantage India

01 Over the next decade, Swiss re forecast that premiums will grow by an annual average of 9% in real terms.

02 India is one of the fastest growing insurance markets in the world. It is the 9th largest country globally in terms of life premium volume and is expected to be 5th largest by 2032.

03 One of the highest young population nations with median age of 28 years.

04 India continues to be under penetrated as compared to countries like Malaysia and Thailand.

Combination of a high share of working population, rapid urbanisation, rising affluence and focus on financial inclusion to propel the growth of Indian life insurance sector.

Performance Update | Q1 FY26

1. United Nations, Department of Economic and Social Affairs, World Population Prospects 2022; 2. Swiss RE Sigma No.3/2024

Macro Economic Indicators and Industry Overview

Unexplored Indian markets paving way for high insurance growth

Share of life insurance in savings expected to rise

Underpenetrated Insurance Market

Protection gap highest amongst peers1 (%)

Sum Assured as % of GDP2,3 (%)

Retail Loans (₹ in trillion)

332

252

251

153

143

127

India

Indonesia Thailand

China

South Korea

Singapore

Japan

Malaysia Thailand

South Korea

India

FY12

FY14

FY16

FY18

FY20

FY22

Advantage India

01 10th largest in insurance market worldwide and 2nd largest in Emerging markets with $131,041 million in total premium business as of 2022.

02 Total premium grew at annual average of 7.5% between FY15-FY21 and is expected to grow at an average of 9% per annum.

03 Increase in credit loans indicates opportunity for group protection products.

Performance Update | Q1 FY26

1. Swiss Re, "Closing Asia's Mortality Protection Gap 2020”; 2. As of FY20 (for USA & Japan as of FY18); 3. McKinsey estimates

Macro Economic Indicators and Industry Overview

Annuity demands to soar with increasing life expectancy and higher income levels

Scope of Annuities Business

Pension Assets / GDP Ratio1 (2022) (%)

Ageing Population (60+)2 (%)

Life Expectancy at 603

Male

Female

131.4

78.7

49.5

23.4

Australia

USA

Hongkong

Japan

3.1

India

Advantage India

20.8

16.4

10.5

12.9

2022

2030

2040

2050

2000-05

2011-12

2030E

01 With the advancement of medical science, life expectancy has improved rapidly over the last few decades and demand for pension-based products will increase with the rise in life expectancy.

02 NPS contributes a significant portion of the retirement corpus in India, and they are on track for a period of consistent high growth over the next decade.

Performance Update | Q1 FY26

1. OECD Data 2022; 2. UN World Population Report; 3. Ministry of Statistics and Programme implementation, Crisil, PFRDA, Census of India

Macro Economic Indicators and Industry Overview

India expected to be the fastest growing economy with higher need for financial planning

Share of Life Insurance in Household Savings expected to rise

Fastest Growing G20 Economy3 Average Annual Real GDP Growth (%)

Householding Savings Composition (%)

Share of Life Insurance in Financial Savings1 (%)

6.7

a d n I

5.0 4.3

3.0 2.6 2.4 2.0 1.9 1.8 1.7

a s e n o d n I

a n h C

d u a S

a b a r A

i l

a r t s u A

y e k r u T

a d a n a C

o c x e M

h t u o S

a e r o K

h t u o S

a c i r f

Advantage India

FY18

FY19

FY20

FY21

FY22

FY23P

18 7

19 10 16

11 13

17 9 14

13 13

Financial Savings

Physical Savings

FY18

FY19

FY20

FY21

FY22

01 India will continue to be the world’s fastest-growing major economy with forecast of 6.6% real GDP growth annually on average from 2024 to 20283.

02 Household financial saving has improved to 7.6% of GNDI2 in 2019- 20, after touching the low of 6.4% in 2018-19.

03 Financial savings of India households may more than double in next 5 years.

Mutual Funds

Bank Deposits

Life Insurance Funds

Provident & Pension Funds (Including PPF)

Small Savings (Excluding PPF)

Others

Performance Update | Q1 FY26

1. Reserve Bank of India, Handbook of Statistics; 2. GNDI – Gross National Disposable Income; 3. Swiss Re Report

Macro Economic Indicators and Industry Overview

Industry channel and segment mix

Product Portfolio1

Industry (%)

FY19

FY20

FY21

FY22

FY23

FY24

Channel Mix2

Industry (%)

ULIP

Traditional

11 FY19

12 FY20

13 FY21

Private Players (%)

ULIP

Traditional

Private Players (%)

Banca

Agency

Others

Banca

Agency

Others

13 FY22

14 FY23

FY24

FY19

FY20

FY21

FY22

FY23

FY24

FY19

FY20

FY21

FY22

FY23

FY24

Higher ULIP contribution among private players, though traditional products forms the major share of new business

Banca channel continues to be the largest contributor for private players although Direct channel has gained momentum in past years

Performance Update | Q1 FY26

1. New business premium basis; 2. Individual new business premium basis;

Source - Life Insurance Council, Public disclosures; Components may not add up to total due to rounding-off

Performance Update | Q1 FY26

Annexure

APE Product Mix and Channel Mix

₹ in billion

Segment

Individual Savings

Par

Non-Par

ULIP

Protection

Individual

Group

Annuity

Group Savings

Total

Channel

Bancassurance

Agency

Others

Total

FY24

159.6

7.8

32.4

119.3

21.0

9.4

11.6

6.1

10.6

FY25

182.8

7.4

39.1

136.2

20.5

8.3

12.2

5.3

5.6

197.2

214.2

FY24

121.9

49.6

25.7

197.2

FY25

131.3

60.0

22.8

214.2

Performance Update | Q1 FY26

Components may not add up to total due to rounding-off

Q1 FY25

Q1 FY26

Y-o-Y Growth

Mix Q1 FY26

30.6

1.4

7.0

22.2

3.0

1.5

1.2

1.6

36.4

32.3

1.8

7.7

22.8

4.6

1.6

3.0

1.3

1.5

39.7

28%

10%

53%

12%

93%

(6%)

81%

19%

58%

12%

Q1 FY25

Q1 FY26

Y-o-Y Growth

Mix Q1 FY26

21.6

10.9

3.9

36.4

23.1

10.9

5.7

39.7

47%

58%

27%

14%

Annexure

Channel Mix – Segment Wise

₹ in billion

Channel

Segment

FY24

FY25

Q1 FY25

Q1 FY26

Y-o-Y Growth

Mix Q1 FY26

Bancassurance

Agency

Others

Participating

Non-Participating

Unit Linked

Total

Participating

Non-Participating

Unit Linked

Total

Participating

Non-Participating

Unit Linked

Total

2.8

28.7

85.6

2.9

30.0

94.6

117.2

127.4

3.9

12.6

31.9

48.4

1.1

5.6

1.7

8.4

3.7

16.5

39.3

59.5

0.8

5.8

2.4

9.0

0.5

5.7

14.4

20.7

0.7

2.7

7.3

10.7

0.2

1.1

0.4

1.7

0.8

5.5

16.2

22.4

0.9

3.7

6.2

10.8

0.1

1.2

0.5

1.8

39%

(5%)

12%

33%

38%

(15%)

(31%)

17%

10%

Performance Update | Q1 FY26

Components may not add up to total due to rounding-off

16%

46%

64%

11%

18%

31%

Annexure

Scenario

Reference Rate +100 bps

Reference Rate –100 bps

Decrease in Equity Value 10%

Proportionate Change in Lapse Rate +10%

Proportionate Change in Lapse Rate –10%

Mortality / Morbidity +10%

Mortality / Morbidity –10%

Maintenance Expense +10%

Maintenance Expense –10%

Mass Lapse for ULIPs in the year after the surrender penalty period of 25%1

Mass Lapse for ULIPs in the year after the surrender penalty period of 50%1

Tax Rate Change to 25% on Normal Tax basis

Change in VoNB

(0.8%)

0.7%

(0.4%)

(4.7%)

5.0%

(6.6%)

6.6%

(2.0%)

2.0%

(8.9%)

(19.3%)

(9.2%)

Performance Update | Q1 FY26

1. Mass lapse sensitivity (of 25% or 50%) for ULIP business is applied at the end of surrender penalty period as defined by APS 10

Annexure

Average customer age in years

Average policy term in years

Par

Protection

ULIP

Non-Par

Overall

Par

Protection

ULIP

Non-Par

Overall

Performance Update | Q1 FY26

Age and term for Individual products for June 2025

Annexure

Particulars

Premium Earned

Premium on Reinsurance Ceded

Net Premium Earned

Investment Income1

Other Income

Total Income (A)

Commission Paid

Operating and Other Expenses2

Provision for Tax – Policyholders’

Claims / Benefits Paid (net)3

Change in Actuarial Liability4

Total Expenses (B)

Profit Before Tax (A – B)

Provision for Tax – Shareholders’

Profit After Tax

FY25

Q1 FY25

Q1 FY26

₹ in billion

FY24

814.3

(8.4)

805.9

514.1

0.5

849.8

(9.2)

840.6

328.6

0.002

1,320.5

1,169.2

32.6

49.8

1.4

431.1

786.3

37.4

56.3

2.0

489.0

559.5

1,301.1

1,144.2

19.4

0.5

18.9

25.0

0.8

24.1

155.7

(4.7)

151.1

195.7

0.032

346.8

6.9

11.9

0.6

98.3

223.8

341.4

5.4

0.2

5.2

178.1

(6.4)

171.8

218.3

(0.08)

390.1

7.9

14.0

0.5

101.2

260.5

383.9

6.1

0.2

5.9

Performance Update | Q1 FY26

1. Net of Provision for diminution in the value of investment and provision for standard and non-standard assets; 2. Includes provision for doubtful debts (including write off), GST on charges and Shareholder expenses; 3. Inclusive of interim bonus and terminal bonus; 4. Includes movement in fund for future appropriation; Components may not add up to total due to rounding-off

Annexure

Particulars

Source of Funds

Share Capital

Reserves and Surplus

Credit / (Debit) Fair Value Change Account

Sub Total

Credit / (Debit) Fair Value Change Account

Policy Liabilities

Provision for Linked Liabilities (includes change in fair value)

Funds for Discontinued Policies Funds for Future Appropriation

Total Liabilities

Application of Funds

Investments

Shareholders

Policyholders

Assets held to cover Linked Liabilities

Loans

Fixed Assets

Net Current Assets

Total Assets

Performance Update | Q1 FY26

Components may not add up to total due to rounding-off

FY24

10.0

135.9

3.2

149.1

47.2

1,558.1

2,045.7

114.4 13.4

3,927.8

130.4

1,565.4

2,160.1

3.9

5.6

62.5

3,927.8

FY25

10.0

157.9

1.9

169.9

48.3

1,798.8 2,333.6

142.8 15.9

4,509.2

146.0

1,852.3

2,476.4

4.8

5.9

23.8

4,509.2

₹ in billion

Q1 FY26

10.0

164.1

4.3

178.4

51.9

1,866.2 2,514.0

153.9 17.4

4,781.8

163.9

1,919.2

2,667.9

5.2

6.2

19.4

4,781.8

Annexure

Committed to sustainability and minimising carbon footprint

• 100% paperless onboarding for advisors and CIFs

• 99% new business proposals logged digitally

• 97% renewal premium collected digitally

Digital Onboarding

• Moved to 100% renewable energy

(Corporate Office and Processing Center)

• Measures in place to track Scope 1, Scope 2 and Scope

3 emissions for all offices and reduce emissions

Decarbonisation Strategy

• Board-driven emission reduction targets

• More than 60,000 native saplings planted through

Miyawaki technique

• Water stored through rainwater harvesting at

Corporate office building

Rainwater Harvesting

Climate Policy

Performance Update | Q1 FY26

Data pertains to FY25

• LED Lights installed at all offices where interiors

or ambience work was undertaken

• Procurement of 4 star and above rating appliances

at all offices

• 1,533 KL of water was treated by Sewerage Treatment

Plan at corporate premises.

• Unused water from the water cans procured by the

company reused to water the garden plants

Energy Efficiency

Water Management

• 3,367 kgs of E-waste recycled through green channels

with zero emissions

• 879 kgs of Wet Food Waste recycled into compost

by Eco Composter Machine installed in head office

• 5,102 kgs of paper and cardboard waste recycled

through certified vendors

Waste Recycling

Other Initiatives

• Adoption of Climate risk assessment and

management policy in process

• Building is certified with IGBC Green Rating – Gold

(CPC and Seawoods Office)

Annexure

Empowering communities around us, enabling an inclusive world

• Customer satisfaction at core – Net Promoter Score – 82

• Robust Grievance Redressal Mechanism –

5 per 10,000 policies

• 13th Month Persistency –

87.4%

• Claim settlement ratio –

99.40%

•

ISO 10002:2018 – Customer Satisfaction Management System

ISO 9001:2015 – Quality Management System

Customer Centricity

• Serving 52.3 mn lives under PMJJBY

• 99.87% claims settled in PMJJBY

• Serving 5.1 mn lives through micro insurance products

• 3.9 mn new lives covered in social sector

• 652K+ new policies issued in rural areas

• 14% of AUM invested in infrastructure & housing

• 8K+ participants were provided awareness sessions

on Masik Beema Divas

Financial Inclusion

• Life Insurance and Accidental Insurance coverage

for all employees

• Maternity leaves for female employees

• Paternity leaves for male employees

• Reduction in turnover rate from 28% in FY24

to 25% in FY25

• Employee Stock Option Scheme

• Employee Referral Scheme

•

Inter-departmental off-site meets

• Annual event "Sangam", for employees and

their families celebrating diversity and showcasing their talents

• Employee engagement activities - Yoga Day,

Marathons, Food festivals, Festive Celebrations

Human Capital Management

•

*23% women employees vs 21% for FY24

• Project Shakti to improve gender mix –

37% women advisors

• Creche facility at select locations

Diversity and Inclusion

Performance Update | Q1 FY26

Data pertains to FY25; *inclusive of business associates

Annexure

Empowering communities around us, enabling an inclusive world

• ₹36 mn spent towards wellbeing and healthcare

of community through CSR

• ₹146 mn spent towards education, nutrition and

overall development of under-privileged community through CSR

• 53K+ CSR beneficiaries

• 31 CSR partners

Social Inclusion

• Data Privacy Policy and classification tool in place

• Zero complaints received for data privacy

• Offices accessible for differently abled individuals –

wheelchairs facility at offices

• PoSH Policy – Zero tolerance for sexual harassment

Privacy Protection

Human Rights

•

Imparted training to 99% of Employees, 97% of CIFs and more than 82% of Agents

• Average ~49 hours of classroom learning and

~12 hours of e-learning for employees

• 170 modules created to enhance the knowledge and

skills of employees & intermediaries

• Mission III Certification - a professional development

initiative for employees

• Video-based interactive modules are part of monthly

SAP for employees

•

Innovation journey with Hack-AI-thon (7500 AI Enthusiasts; 1022+ visions)

Skill Development

• Zero work related injuries or fatalities

• Health check-up programs and wellness sessions

at pan-India level

• Comprehensive safety audits and inspections

• Regular fire drills and sanitation procedures

• Male and Female Medical Practitioner available

at corporate office / CPC

Health and Safety

Performance Update | Q1 FY26

Data pertains to FY25

Annexure

Integrity, Excellence and Ethics – Three pillars of our Corporate Governance philosophy

• 62.5% Independent Directors on Board ensuring

Independence in governance

• Women Director on Board

• 8 committees chaired by Independent Director

• Board Diversity Policy

• Board Evaluation process and results – driven

action plan

• Code of conduct for employees, suppliers as well

as Directors

• Board approved ESG framework

• Stakeholder relationship and sustainability committee

monitors ESG aspects & impacts

• ESG Steering Executive Committee responsible for

integrating ESG in business

• ESG Report based on GRI Norms

• RI framework in place, initiated engagement with

60 flagged companies

• Stewardship Policy – Engagement with investee

companies; voting policy and Disclosures

Corporate Governance

ESG Governance

• Robust compliance mechanism ensures prompt communication of significant compliance risks

• Governed by various policies like Anti Money

Laundering, POSH, Whistle Blower, Sales Quality, Fraud Prevention, Protection of Policyholders Interest, Code of Practices and Procedures for Fair Disclosure of UPSI, Insider Trading

Transparency and Reporting

•

Information Security Management System (ISMS) - ISO 27001:2022 (Certified)

• Zero complaints received for data privacy and cyber

security breaches

• Acceptable usage practices, Secure coding practices,

secure configuration practices

•

IS requirements for SBIL for outsourced vendors

• Board approved information and cyber security policy to ensure data security and protects from cyber threats

• Firewall, anti-malware solutions, E-mail security and

filtering in place

Information Security

• Statement of Compliance – Enterprise Risk

Management - ISO 31000:2018

• Formulated risk appetite statements carry out

ICAAP (Internal Capital Adequacy Assessment)

• Business Continuity Management System (BCMS) –

ISO 22301:2019 (Certified)

• Risk awareness & training to build risk-conscious

culture – Risk Pledge, External Speakers

Risk and Crisis Management

Performance Update | Q1 FY26

Data pertains to FY25

Annexure

Best Life Insurance (Large Category)

Mint BFSI Summit 2024

Best Risk Management Strategy (India)

ICC Emerging Asia Conclave and Awards 2025

Most Effective 360-Degree Marketing Campaign (‘Thanks-A-Dot’ – Breast Cancer Awareness Initiative)

Pitch BFSI Marketing Awards 2024

Amiable Insurer of the Year 2024 (Life Insurance – Large Category)

ET Now Insurance Summit and Awards 2024 (11th Edition)

Performance Update | Q1 FY26

Best AI-Powered Conversational Analytics Platform

Data Analytics and AI Show 2025 (2nd Edition)

India’s Top 500 Value Creators 2024

Dun&Bradstreet

Most effective Content Marketing Strategy (‘Beyond the Boundary’ – A Fan-Centric Phygital Campaign)

Pitch BFSI Marketing Awards 2024

Digital Transformation of the Verification Process (Customer and Market Focus)

10th International Best Practice Competition 2024

Best Life Insurance Company – India

ICC Emerging Asia Conclave and Awards 2025

CSR Award 'Doing Good Through Business For Education'

Doing Good For Bharat Awards 2024

Best Practices Award (‘Onboardx’ – Reengineering and Transformation of Agency Onboarding Process by Intelligent Integration of Emerging Technologies)

IMC RBNQA MQH Best Practices Award

India CSR Leadership Award 2024 – Large Impact (‘Holistic Development of Children and Employability Enhancement’)

India CSR Award (14th Edition)

Annexure

Description

Gross Written Premium

New Business Premium

Number of Policies

Annualised Premium Equivalent

Individual Rated Premium

Assets Under Management

Term

Opex

CAGR

GDP

INR (₹)

USD ($)

TAT

Description

Operating Expenses (excluding commission)

Compounded Annual Growth Rate

Gross Domestic Product

Indian Rupee

United States Dollar

Turn Around Time

Bancassurance

Traditional Segment

SBI Life Insurance Company Limited has informed the Exchange regarding a press release dated July 24, 2025, titled "Press Release & Investor Presentation Performance for the Quarter ended June 30, 2...

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