MAM
SBI Life stumbles in Q2 FY25: Premium growth falters amid market uncertainty
Mumbai: As SBI Life Insurance’s latest financial results cast a shadow over its once-steadfast growth, policyholders may be left wondering: Who will secure your family’s future when you’re no longer around? The insurer’s Q2 FY25 report, covering the quarter ending 30 September 2024, reveals a tale of contrasting fortunes. While renewal premiums held their ground, first-year and single premiums faltered, pointing to headwinds that could challenge the resilience of one of India’s largest life insurers.
In Q2 FY25, SBI Life’s renewal premium surged to Rs 11,72,120 lakhs, up from Rs 10,12,113 lakhs in Q2 FY24, reflecting the company’s strength in retaining policyholders. However, first-year premiums amounted to Rs 4,91,567 lakhs, a marginal increase compared to Rs 4,63,332 lakhs in the same period last year, indicating slower new customer acquisition. The single premium, a critical contributor to income, saw a notable decline, down to Rs 3,77,629 lakhs from Rs 5,42,136 lakhs, suggesting that customers may be hesitant to make large one-time insurance investments amid economic uncertainties.
This subdued performance in single premiums highlights a key area of concern for the insurer. As global and domestic markets face volatility, customers may have opted for lower-risk, shorter-term products over substantial long-term investments, impacting SBI Life’s overall premium growth. The company’s net income stood at Rs 52,942 lakhs, up from Rs 38,019 lakhs, despite the challenges in premium growth.
On a positive note, the company’s solvency ratio remained stable at 2.04 per cent, above the regulatory minimum of 1.5 per cent, showcasing its ability to meet policyholder obligations even in challenging times. Additionally, SBI Life’s expense management ratio rose slightly to 10.57 per cent, reflecting increased operational costs, which may put pressure on profitability in future quarters if not addressed.
SBI Life, company secretary, Girish Manik stated, “Despite market challenges, we are committed to sustaining long-term growth by focusing on improving renewal premiums and maintaining a healthy solvency margin.” The company’s decision to keep expenses under tight control and further diversify its product offerings could be pivotal as it navigates the evolving financial landscape.
The persistency ratios (percentage of customers renewing policies) remained robust across different timeframes, with the 13-month ratio at 84.16 per cent, suggesting SBI Life continues to foster customer loyalty even as it faces pressure in attracting new policyholders.
One of the more troubling figures is the decline in new business, particularly in the individual life segment. With first-year premiums stagnating and single premiums sharply falling, SBI Life may need to revise its product strategies, particularly in response to changing customer preferences for more flexible and lower-risk options.
At the same time, the insurer’s investments performed admirably, providing a buffer against premium-related shortfalls. Investment income for policyholders’ funds without unrealised gains stood at 8.26 per cent for non-linked policies, a slight uptick from the previous quarter, ensuring that SBI Life can continue to offer competitive returns to its policyholders.
As India’s insurance market grows increasingly competitive, SBI Life’s focus on sustaining renewal premiums and improving operational efficiency will be crucial in reversing the downward trend in new business premiums. The company has already shown resilience, but it may need to adapt more swiftly to market forces in order to achieve consistent growth.
MAM
Give Me Five mental fitness platform launches in India
Global tool for early stress detection debuts in Hyderabad with live demos.
MUMBAI: Give Me Five just gave mental fitness a high-five because when your mind needs a quick check-up, even the app shows up faster than your inner critic. Give Me Five, a global mental fitness platform focused on early detection and proactive wellbeing, was officially launched in India at a special event at The Park Hotel, Somajiguda, Hyderabad. Founded by Brendan Fahey (30 years years building community solutions in human services), Dr Lisa Fahey OAM (35+ years as a trauma-recovery psychologist) and Phil Dymock (technology lead for expansion across the US, Canada, Australia and now India), the platform encourages small, consistent check-ins to spot early signs of stress, anxiety or burnout before they escalate.
The launch featured a live demonstration of core features, quick mental fitness assessments, data-driven personal insights, wellbeing dashboards, and tools tailored for individuals, workplaces, schools and communities. By making early awareness simple and accessible, Give Me Five aims to foster supportive environments where people feel equipped to act sooner rather than later.
Give Me Five co-founder Brendan Fahey said, “Give Me Five was created with a simple idea that small, consistent check-ins can make a meaningful difference in how we understand and support mental fitness. By making early detection accessible through technology, we hope to empower individuals, organisations, and communities to recognise challenges sooner and build stronger systems of care and support.”
The platform arrives as mental health conversations in India gain urgency, with rising awareness of workplace stress, student burnout and everyday emotional load. Give Me Five positions itself as a preventive companion less about crisis response and more about daily maintenance for the mind.
In a world that tracks every step and heartbeat, Give Me Five quietly reminds us the most important metric is still how we feel—and sometimes all it takes is five minutes and a honest pause to keep the balance from tipping.
