SBI Life Insurance reports about 15 pct rise in profit during Q3

SBI Life Insurance Friday reported a 14.7 per cent growth in its profit after tax at Rs 264.28 crore for the third quarter ended December 2018. The private insurer's PAT stood at Rs 230 crore during the corresponding period last year, the insurer said in a statement. Total income of the insurance company increased to Rs 12,156.39 crore as against Rs 9,585.87 crore in the third quarter of the previous fiscal. The asset under management (AUM) increased to Rs 1,34,150 crore as compared to Rs 1,11,630 crore at the end of December 31, 2017.

SBI Life Insurance, established in 2001, is a joint venture between State Bank of India and BNP Paribas Cardif SA and is one of the leading life Insurance companies in India.