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Q4 2020 SBI Life Insurance Company Ltd Earnings Call Transcript
Thank you very much. Good evening, everyone, and we happily welcome you on to the results update call of SBI Insurance Company Limited for the year ended March 31, 2020. Along with me are Mr. Mahesh Sharma, Deputy CEO; Mr. Sanjeev Pujari, President, Actuarial and Risk Management; Mr. Abhijit Gulanikar, President, Business Strategy; Mr. Sangramjit Sarangi, President and Chief Financial Officer; Mr. Subhendu Kumar Bal, Appointed Actuary; and Chief Investments Officer, Mr. Gopi Shenoy.
Update on our financial results and the key highlights can be accessed on our website. The key highlights of this financial year for SBI Life are, new business premium registered a growth of 20%, and is now at INR 165.9 billion. Individual protection new business premium grew by 42%. Non-PAR and ULIP new business premium has grown by 28%. Annuity new business premium witnessed 307% growth and stands at INR 11.3 billion. Renewal premium has shown a strong growth of 25%, and now stands at INR 240.40 billion. On effective tax rate basis, value of new business is INR 22.2 billion, a growth of
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