India's SBI Life dips; brokerages cut FY25-27 outlook on weak Q3 banca growth

Sbi Life Insurance

20/01/2025 10:16

** SBI Life Insurance  SBIL.NS  falls ~3% to 1,487.30
rupees; set to snap two sessions of gains
    ** Brokerages cut value of new business (VNB) and Annual
Premium Equivalent (APE) estimates for FY25-FY27 on weak growth
in banca business
    ** However, SBIL's Q3 profit up 71% y/y; net premium income
grows 11%
    ** Nirmal Bang lowers FY25-FY27 VNB forecast by 1.5%-3%;
Kotak Equities slashes by 1.3%-2.3%
    ** Kotak says, "The slowdown at the parent bank will
continue to drag the performance of SBI Life versus peers"
    ** Stock rated "buy" on avg; median PT is 1,900 rupees -
LSEG
    ** SBIL fell ~3% in 2024

 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com;))