“This financial year, we will not be in need of any capital,” said Sanjeev Nautiyal, MD and CEO, SBI Life Insurance Company Ltd.
The company on Friday reported a 13.4% growth in profit after tax in the fourth quarter ended March 31, 2018.
Nautiyal said, “SBI Life has put up an extremely satisfactory performance this year and we deliberately went slow on the group savings business. So, we grew by only Rs 2,200 crore whereas we had kept a target of Rs 3,500 crore.”
Talking on premiums, he said the company saw 31% growth in individual rated premiums and we are the clear market leader in it.