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
Pulse launches 7th Loyalty Day with #PulseUpYourDrink campaign
Runs May 1 to 15, invites fans to create drinks, 100 winners get merchandise.
MUJMBAI: If candy had a cocktail hour, Pulse is ready to stir things up literally. The Dharampal Satyapal Group’s confectionery brand has rolled out the seventh edition of Pulse Loyalty Day, anchored by a new digital-first campaign, #PulseUpYourDrink, running from May 1 to May 15, 2026. The idea: turn a tangy candy into a creative ingredient, and let consumers do the mixing. Tapping into a growing trend of flavour experimentation, especially among Gen Z and millennials, the campaign invites fans to create mocktails and beverages using Pulse candy. The format leans heavily on user-generated content, with participants encouraged to share their creations on social media by tagging @passpass_pulse.
To kick things off, a set of chefs will introduce Pulse-inspired mocktail recipes, setting the base for fans to remix and reinterpret. Actor Mannara Chopra joins the campaign to amplify reach, signalling a continued focus on youth engagement.
The activation is designed to play out across the digital ecosystem, with nano and micro influencers driving participation and conversation. As an added incentive, 100 participants will win Pulse-branded merchandise, blending fandom with rewards.
Pulse, which has led the hard-boiled candy segment for the past nine years, is increasingly positioning itself as more than just a product leaning into culture, community and online behaviour. Loyalty Day, now in its seventh edition, has evolved into a recurring digital moment where consumers actively co-create the brand narrative.
The strategy is clear: keep the flavour familiar, but the engagement fresh. Because in today’s attention economy, even a candy needs to stay in the mix.
