SBI Life Insurance News

This is inform you that the Company has received an order under Section-73 of the JGST and CGST Act 2017 from the State Tax Officer, Ranchi West, Ranchi, Jharkhand on August 28, 2024 at 04:54 PM

This is to inform that the Company has received an order under Section 73 of the CGGST and CGST Act 2017 from the Deputy Commissioner of State tax, Raipur, Division-1, Chattisgarh on August 28, 2024 at 5:33 pm.

Please find attached Voting Results and Scrutinizer''s Report of the 24th AGM held on August 26, 2024

Bharti Airtel and IndiGo stocks soared to new all-time highs on Wednesday, with Bharti Airtel reaching Rs 1,545.85 (up 1.5%) and IndiGo climbing to Rs 4,944.60 (up 4.2%). Other stocks hitting their 52-week highs include IEX, ICICI General Insurance, Indian Hotels, Lupin, MCX, and SBI Life Insurance Company.

We wish to inform the exchanges that Mr. Dinesh Kumar Khara (DIN: 06737041) has demitted the office of Chairman of State Bank of India from the close of business of August 27, 2024 on account of his completion of term as the Chairman of the State Bank of India.Mr. Dinesh Kumar Khara has tendered his resignation as a Non-Executive, Nominee Director of SBI Life Insurance Company Limited ("Company"), consequently he ceases to be the Chairman of the Company.

The Nifty 50 closed at 25,018, just short of a new all-time high, as the BSE Sensex ended at 81,711. Gains were led by Bajaj Finserv and other major companies. Investors anticipate the Federal Reserve's interest rate cut in September. Nifty Media saw substantial growth following Zee Entertainment's settlement agreement with Sony India.

As far as Nifty is concerned, bulls have never left control so there is no point even talking about it. Now in the last few sessions, it is clear that bulls are once again making an attempt to control every corner of the street once again which is to improve the market breadth of all segments. But because valuations are high, one has to be cautious, while being bullish. The reason why we are being cautious is that valuations have once again begun to move from expensive to extremely expensive even if one takes into account the results from Q1. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.

Please find attached proceedings of the 24th Annual General Meeting held on August 26, 2024

This is to inform that the Company has received an order under Section 73 of the TNGST and CGST Act 2017, from the Deputy Commissioner (CT), LTU-DC3, Chennai, Tamilnadu on August 26, 2024 at 9.02 A.M.

This is to inform that the Company has received an order under Section 73 of the WBGST and CGST Act 2017 from the Deputy Commissioner, Large Tax Payer Unit Corporate Division, West Bengal, on August 26, 2024 at 8.51 A.M.

Stocks in news: The domestic market edged higher for the second week, moving closer to record highs. Key shares like Trent, BEL, and LTIMindtree attracted attention due to index changes. Transport Corporation announced its first equity buyback. Ambuja Cements experienced significant block deals. Ashoka Buildcon won an MMRDA project. Several other companies also highlighted important developments.

This is to inform that the Company has received an order under Section 73 of the DSGT and CGST Act 2017 from the Sales Tax Officer Class II/AVATO, Ward 206 Zone II Delhi on August, 2024 at 11:08 A.M.

While the annuity market in India is still in its early stages, insurers believe it holds long-term growth potential. With rising life expectancy and higher income levels, the demand for annuity products is expected to soar.

Billionaire Gautam Adani's entity, Holderind Investments, sold 2.76% stake in Ambuja Cements for Rs 4,251 crore through an open market transaction. GQG Partners purchased shares worth '1,679 crore, increasing its stake from 1.35% to 2.04%. SBI Life Insurance and NPS Trust were among other buyers. Adani Group plans to raise '30,000 crore by selling shares in listed firms to rebalance its $126 billion portfolio.

Result of Postal Ballot along with the report issued by Scrutinizer.

This is to inform you that the Company has received an order under Section 73 of the HGST and CGST Act 2017, from the Deputy Excise & Taxation Commissioner, Rohtak, Haryana on August 22, 2024 at 3:24 P.M.

SBI Life Insurance Company experienced a 20% surge in the last three months, hitting a record high in early August before declining. Experts indicate the stock may continue its uptrend. Short-term traders should consider buying at Rs 1,750-1,730, with price targets of Rs 1,840-1,900 and a stop loss below Rs 1,660.

Pursuant to the applicable provisions of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015, we wish to inform you that the Senior Management of the Company had Analyst(s)/Investor(s) meeting on August 21, 2024.

The Board Stakeholder''s Relationship & Sustainability Committee vide its resolution passed on August 21, 2024 has allotted 2,11,746 Equity Shares of Rs. 10/- each towards the exercise of vested stock options.

The domestic blue-chip indices closed higher on Tuesday, thanks to gains in financials and information technology stocks. The Sensex rose 378 points to 80,803, and the Nifty added 126 points to finish at 24,699. However, newly listed Ola Electric Mobility ended 5.7% lower due to profit booking. Investor focus now shifts to upcoming Fed announcements.

Sensex ended nearly unchanged, while Nifty 50 gained 31 points amid volatile trading. Energy stocks rose due to a windfall tax cut on crude, but financials saw profit booking. Key gainers included Hindalco and BPCL, while M&M and Bajaj Auto declined. Newly listed Ola Electric Mobility surged by 10%.

ICICI Prudential Life Insurance posted the sharpest reduction in margin among listed life insurance companies, with the value of new business (VNB) margin narrowing to 24% in the first quarter of fiscal 2025 from 30% a year earlier. Its annual premium equivalent (APE), meanwhile, rose 34.4% on year to ₹1,963 crore.

This is to inform that the Company has received an order under Section 73 of the TNGST and CGST Act 2017, from the Deputy Commissioner (CT), LTU-DC3, Chennai, Tamilnadu on August 14, 2024 at 5:50 P.M.

Pursuant to the applicable provisions of the SEBI (ListingObligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Senior Management of the Company had Analyst(s)/ Investor(s) meeting on August 13, 2024.Information which is already available in public domain was shared with them.You are requested to kindly take the same on record.

This is to inform that the Company has received an order under Section 73 of the UTGST and CGST Act, 2017 relating to FY 2019-20, from the Deputy Commissioner Audit II State Tax, Roorkee, Uttarakhand on August 12, 2024 at 3.48 P.M.

In July, India's life insurance industry saw a 16.9% year-on-year growth in annualised premium equivalent (APE), largely driven by private insurers, who posted an 18% increase. LIC saw a 13.5% rise in APE. Total premiums collected in July reached ₹31,822 crore, a 14% year-on-year increase.

In July, India's life insurance industry saw a 16.9% year-on-year growth in annualised premium equivalent (APE), largely driven by private insurers, who posted an 18% increase. LIC saw a 13.5% rise in APE. Total premiums collected in July reached ₹31,822 crore, a 14% year-on-year increase.

The Senior Management of the Company intends to interact with investor(s)/analyst(s).The schedule of the aforesaid meeting(s) is subject to change and hence, the final schedule including the list of investors will be published once the meetings are concluded. Please note that no unpublished price sensitive information shall be shared during the meeting.

Pursuant to Regulation 30 and 47 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, please find enclosed herewith the copies of newspaper advertisement published in Financial Express and Loksatta on August 04, 2024.

Pursuant to Regulation 34(2)(f) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please find enclosed herewith Business Responsibility and Sustainability Report for FY 2023-24.

Pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Annual Report for FY 2023-24.

Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please find enclosed herewith the Notice of the 24th Annual General Meeting.

Please find enclosed copies of newspaper publication w.r.t. 24th Annual General Meeting published in Financial Express and Loksatta on August 02, 2024.

We wish to inform you that the Board of Directors on August 01, 2024, through Circular Resolution, have approved to hold the 24th Annual General Meeting ("AGM") of the Members of SBI Life Insurance Company Limited on Monday, August 26th, 2024 at 05:00 P.M. (IST) through Video Conference (VC)/Other Audio-Visual Means (OAVM) facility. Other relevant details will be provided in the Notice of AGM which will be issued in due course.

The transcript of the earnings conference call held on Wednesday July 24, 2024 with analysts/investors is enclosed for Q1 for the FY 2024-25. The same is also hosted on the Company''s website.

SBI Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 174945.43 Crore) operating in Financial Services sector.

While the recent upmove in largecaps has made them cover some of the differential which has developed in the valuations between mid and large stocks, if one looks at the long term average, there is still a scope for mean reversion. But as an investor, even in a bull market, it would be better to stay prepared for a volatile phase. So a part of the incremental exposure should be going to largecap stocks. The reason: there is enough evidence of large caps doing relatively well in the corrective phase of the markets. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.

Private life insurers in India have strategized to adhere to new IRDAI regulations requiring surrender value from the first year on non-participating policies. Companies like HDFC Life, ICICI Prudential Life, and SBI Life are adjusting their commission structures and product mixes to protect margins and maintain growth despite the regulatory changes.

Private life insurers in India have strategized to adhere to new IRDAI regulations requiring surrender value from the first year on non-participating policies. Companies like HDFC Life, ICICI Prudential Life, and SBI Life are adjusting their commission structures and product mixes to protect margins and maintain growth despite the regulatory changes.

The copies of newspaper publication w.r.t. completion of dispatch of Postal Ballot notice published in the newspapers today i.e. Financial Express and Loksatta on July 25, 2024.