Jul 23, 2019 / 01:45PM GMT
Sanjeev Nautiyal -
Good evening, everyone, and we heartily welcome you all to the results update call of SBI Life Insurance Company Limited for the quarter ended June 30, 2019. With me are Mr. Abhijit Gulanikar, President, Business strategy; Mr. Sangramjit Sarangi, Chief Financial Officer; and Mr. Subhendu Kumar Bal, Appointed Actuary. Update on our financial results and the key highlights can be accessed on our website.
Last year, we focused on improving our share in the protection business, and we continue to grow in this segment in this quarter as well. We have launched guaranteed savings plan in May 2019, which has been received well in the market. The key highlights for the first quarter of this financial year are new business premium registered growth of 52% and is at INR 31.5 billion. Share of protection has increased to 14% of new business premium and registered growth of 106%. ULIP new business premium has grown by 38%.
Annuity new business premium witnessed 360% growth and stands at INR 1.9 billion. Renewal premium has shown a strong growth of 32% and stands at INR 35.4 billion. On
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