Establishing a clear focus on protection, SBI Life's protection new business premium stood at Rs.2,792 crores for the period ended December 31, 2024. Protection Individual new business premium stands at Rs.519 crores for the period ended December 31, 2024. Individual New Business Premium stands at Rs.19,857 crores with 12% growth over the corresponding period ended on 31^st December, 2023.

SBI Life's profit after tax stands at Rs.1,600 crores for the period ended December 31, 2024.

The company's solvency ratio continues to remain robust at 2.04 as on December 31, 2024 as against the regulatory requirement of 1.50.

SBI Life's AUM also continued to grow at 19% to Rs.4,41,678 crores as on December 31, 2024 from Rs. 3,71,410 crores as on December 31, 2023, with the debt-equity mix of 61:39. 94% of the debt investments are in AAA and Sovereign instruments.

The company has a diversified distribution network of 309,590 trained insurance professionals and wide presence with 1,086 offices across the country, comprising of strong bancassurance channel, agency channel and others comprising of corporate agents, brokers, Point of sale persons (POS), insurance marketing firms, web aggregators and direct business.

Performance for the period ended December 31, 2024

• Private Market leadership in New Business Premium of Rs.26,256 crores with 22.4% market share.
• Private Market leadership in Individual New Business Premium of Rs.19,857 crores with 12% growth and 27.8% market share
• Annualized Premium Equivalent (APE) stands at Rs. 15,965 crores with growth of 11%
• New Business individual sum assured stands at Rs. 1,81,489 crores with 33% growth
• Improvement in 13M & 61M persistency by 83 bps & 521 bps respectively
• Value of New Business (VoNB) stands at Rs.4,293 crores
• VoNB Margin stands at 26.9%.
• Indian Embedded value (IEV) stands at Rs. 68,140 crores with 17% growth over FY 24
• Profit After Tax (PAT) stands at Rs.1,600 crores with 48% growth
• Robust Solvency ratio of 2.04
• Assets under Management stands at Rs.4,41,678 crores with 19% growth.

About SBI Life Insurance:

SBI Life Insurance ('SBI Life' / 'The Company'), one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001.

Serving millions of families across India, SBI Life's diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions.

Driven by 'Customer-First' approach, SBI Life places great emphasis on maintaining world class operating efficiency and providing hassle-free claim settlement experience to its customers by following high ethical standards of service. Additionally, SBI Life is committed to enhance digital experiences for its customers, distributors and employees alike.

SBI Life strives to make insurance accessible to all, with its extensive presence across the country through its 1,086 offices, 25,949 employees, a large and productive network of about 241,251 agents, 77 corporate agents and 14 bancassurance partners with more than 41,000 partner branches, 144 brokers and other insurance marketing firms.

In addition to doing what's right for the customers, the company is also committed to provide a healthy and flexible work environment for its employees to excel personally and professionally.

SBI Life strongly encourages a culture of giving back to the society and has made substantial contribution in the areas of child education, healthcare, disaster relief and environmental upgrade. In 2023-24, the Company touched over 1.05 lakh direct beneficiaries through various CSR interventions.

Listed on the Bombay Stock Exchange ('BSE') and the National Stock Exchange ('NSE'), the company has an authorized capital of ` 20.0 billion and a paid up capital of ` 10.0 billion. The AuM is ` 4,416.8 billion.

For more information, please visit our website-www.sbilife.co.in and connect with us on Facebook, Twitter, YouTube, Instagram, and Linkedin.

(Numbers & data mentioned above are for the period ended December 31, 2024)

Disclaimer

Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will', 'expected to', etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the actual growth in demand for insurance and other financial products and services in the countries that we operate or where a material number of our customers reside, our ability to successfully implement our strategy, including our use of the Internet and other technology our exploration of merger and acquisition opportunities, our ability to integrate mergers or acquisitions into our operations and manage the risks associated with such acquisitions to achieve our strategic and financial objectives, our growth and expansion in domestic and overseas markets, technological changes, our ability to market new products, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to implement our dividend policy, the impact of changes in insurance regulations and other regulatory changes in India and other jurisdictions on us. SBI Life Insurance Company Limited undertakes no obligation to update forward looking statements to reflect events or circumstances after the date thereof.

This release does not constitute an offer of securities.

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Olectra displayed its latest products, including the Blade Battery Chassis, a redesigned 12-meter Blade Battery Platform, and newly styled 9-meter City and 12-meter Coach buses. These products reflected Olectra's commitment to providing efficient and eco-friendly public transport options.

Blade Battery Technology

A highlight of Olectra's innovations is the Blade Battery, developed by BYD. Known for its safety and performance, this battery has passed rigorous tests, including nail penetration and furnace trials, without any fire or explosion.

The Blade Battery provides 30% more energy storage, enabling these buses to travel up to 500 kilometres on a single charge. Its compact and lightweight design improves space efficiency and vehicle stability. With a lifespan of over 5,000 charge cycles, it is a durable and reliable choice for electric vehicles.

While speaking at the launch event of Blade Battery platform, Olectra's Chairman & Managing Director - Mr. K.V. Pradeep said "Like every ambitious venture, we started small, but our dreams were never to settle. From our humble beginning with an order for just 6 Electric buses to our latest milestone of 5,150 Electric buses, the growth has been nothing short of extraordinary. This journey has been fueled by a shared commitment to transforming emission-intensive transportation into a cleaner, more sustainable industry. The challenges are many, but we at Olectra are committed to taking them head-on with innovation, collaboration, and determination."

The Blade Battery is just the beginning. We are constantly exploring new ways to improve, innovate, and push the boundaries of what is possible in the electric mobility industry. Our focus continues on increasing our manufacturing and enhancing our technology capabilities.

I would like to extend my sincere thanks to all our business partners, vendors, and shareholders who have been with us on this incredible journey. It is your trust and collaboration that have enabled us to reach this stage, and together, we will continue to build a future that's cleaner, greener, and more sustainable."

Features of New Olectra Buses

Olectra's buses are designed with advanced features to enhance passenger comfort and safety. These include fully digital instrument panels, Electronic Hydraulic Power Steering (EHPS), real-time Vehicle Tracking Systems (VTS), and Reverse Park Assist Systems (RPAS).

For passengers, amenities like USB charging ports, roof-mounted air conditioning, and cantilever seats ensure a comfortable journey. In-wheel motors and advanced braking systems deliver a smooth and safe ride.

Safety and Comfort as a Priority

Passenger safety and comfort are at the core of Olectra's design philosophy. Features such as Advanced Driver Assistance Systems (ADAS), GPS tracking, and CCTV cameras ensure robust safety measures. Air suspension and kneeling mechanisms offer smooth rides and easy boarding for everyone, including specially-abled passengers. Wheelchair ramps and inclusive designs make these buses accessible to all.

Driving India's Green Mobility Journey

With over 2,200 electric vehicles (as on 30^th September, 2024) operating across India, Olectra has redefined public transport. These buses have travelled more than 30 crore kilometres, reducing CO2 emissions by over 2.7 lakh tons. This impact is equivalent to planting 1.24 crore trees, showcasing Olectra's commitment to environmental conservation.

By replacing diesel buses with electric ones, Olectra has saved about 10 crore litres of diesel. This shift has reduced reliance on fossil fuels, cut operational costs, and significantly improved urban air quality, positively impacting greenhouse gas emissions and global warming.

One of Olectra's greatest achievements is securing the world's largest electric bus order for 5,150 buses from MSRTC, Maharashtra. Additionally, its electric tippers are revolutionising industries like construction, roadwork, and mining by providing noise-free and pollution-free alternatives.

Olectra's buses are operational in 10 states and 1 union territory, offering eco-friendly travel solutions to millions of passengers. These buses are manufactured in Hyderabad, Telangana, at a state-of-the-art facility equipped with advanced technology and strict quality standards.

A Greener, Sustainable Future

Olectra is not just manufacturing electric buses; it is driving meaningful change. With each innovation, the company reinforces its commitment to sustainability and cutting-edge technology.

Olectra Greentech Limited is leading India's transition to a cleaner, healthier future. By setting new benchmarks in green mobility and continually pushing boundaries, Olectra is paving the way for a brighter tomorrow - one green kilometre at a time.

About Olectra Greentech Limited (Olectra)

Established in 2000, Olectra Greentech Limited (a public listed company) – part of the MEIL Group, pioneered the introduction of electric buses in India in 2015. Its products are in line with the Government of India's initiative towards clean transportation solutions. OLECTRA plays a key role in the Indian market.

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The graduating class comprised 205 students from the Faculty of Architecture, 105 from the Faculty of Design, 11 from the Faculty of Management, 168 from the Faculty of Planning, 155 from the Faculty of Technology. 45 meritorious students were awarded University Awards of Proficiency for their outstanding academic achievements.

Decked in the customary off-white and beige ensembles with colourful stoles, the student procession - led by Shri Sanjay Lalbhai, Chairman; Prof. Barjor Mehta, President, and the Chief Guest Dr. Ajay Shah - entered the iconic Shrenikbhai Plaza where they were welcomed with enthusiastic cheers from families and guests.

As students filed into their seating areas, Prof Mehta, Shri Lalbhai and Dr Shah were joined on stage by Prof Tridip Suhrud, Provost; Ms Anita Hiranandani, Registrar; and the Deans of different faculties for the proceedings.

Prof. Barjor Mehta, President, CEPT University, warmly welcomed the gathering and congratulated the graduating batches. He highlighted the significance of this Convocation, particularly given the successful completion of the inaugural cohorts of the Master's in Housing Design and Master's in Architectural Tectonics programs. These programs, he emphasized, address crucial industry demands, from developing innovative housing solutions to integrating technical construction aspects with creative design. Extending his best wishes for their future endeavours, Prof. Mehta encouraged the graduates to maintain a strong connection with the University and assured them of the University's continued support.

Shri Sanjay Lalbhai, Chairman of CEPT University, emphasized on Ahmedabad's unique potential to become a global hub of interdisciplinary learning and research. With a remarkable concentration of premier institutions within a 9 sq km radius, the city offers an unparalleled environment for fostering true collaboration. By breaking down disciplinary silos and encouraging students to explore diverse fields, educational institutions can empower students to address the complex challenges facing humanity. He stressed the need to foster a culture of collaboration among these institutions to effectively leverage their collective strengths to create a truly transformative learning experience.

Drawing upon the wisdom of Greek philosophy, Chief Guest Dr. Ajay Shah, encouraged students to contemplate the deeper meaning of their lives and their roles in contributing to the world, in his Convocation address. He emphasized that this is just the beginning of a long journey and that their values and aspirations will evolve over time. He urged them to engage in introspection, question their assumptions, and explore what truly matters to them. Dr. Shah emphasized the importance of finding purpose beyond personal ambition and seeking to contribute to something larger than themselves.

First Batch of Graduates in 'Urban Housing' and 'Architecture Tectonics"

This Convocation also marks a significant milestone with the graduation of the first cohorts from two recently introduced programs. As many as 19 students earned their Master's Degree in Urban Housing, a unique program addressing the critical need for architect-led solutions in the burgeoning commercial housing sector, which constitutes 70% of the building industry.

Additionally, 19 students graduated with a Master's Degree in Architecture Tectonics. It is a rigorous studio-based program supported by a state-of-the-art workshop and it equips students with a deep understanding of materials and construction systems.

Following the larger Convocation ceremony, each Faculty at the University held their individual Convocation ceremony, where students were handed over their individual degrees by the Deans of each faculty. The Faculty Convocations were graced by distinguished personalities, including Himani Jain (Sr. Program Lead, CEEW), Manish Srivastava (Professor, New York University), Raj Rewal (Architect, Raj Rewal Associates), Biswas Gaurav (Founder & CEO, Trukker), and Dr. Susmita Mohanty (Co-Founder & Director General, Spaceport SARABHAI), who served as Chief Guests for the respective Faculties.

The Convocation ceremony ended on a high note as students proceeded to bid goodbyes to their friends, faculty members and staff members who came together to make this day special.

About CEPT University

CEPT University focuses on understanding, designing, planning, constructing, and managing human habitats. Its teaching programs aim to build thoughtful professionals and its research programs deepen understanding of human settlements.  CEPT University also undertakes advisory projects to further the goal of making habitats more liveable. Through its education, research and advisory activities, the University strives to improve the impact of habitat professions in enriching the lives of people in India's villages, towns and cities. The University comprises six faculties: viz. the Faculty of Architecture, the Faculty of Planning, the Faculty of Technology, the Faculty of Design, the Faculty of Management and the CEPT Foundation Program. In December 2023, CEPT University was recognized by the Government of India as a Centre of Excellence in Urban Planning and Design. This comes with an endowment of Rs. 250 Crore to be used towards the research and training on India specific knowledge in Urban Planning and Design over the next 25 years.

CEPT University was established by the CEPT University Act of 2005 enacted by the government of Gujarat. It was originally started in 1962 as the School of Architecture supported by the Ahmedabad Education Society. The Department of Scientific and Industrial Research (DSIR) of the Government of India recognizes the University as a Scientific and Industrial Research Organization (SIRO). CEPT University is recognized as a Center of Excellence by the Government of Gujarat. CEPT University has many ongoing collaborations and exchange programs with top ranked universities across the world.

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