Monday, March 8, 2021

SBI Life Insurance Company Ltd showed impressive Business growth in Feb-2021 & its Valuations

Private insurers has witnessed  their new business premiums (NBP)  growing by 16 per cent in February to Rs 9,504.64 crore, compared with Rs 8,128.51 crore in the same period a year earlier. NBP is the premium acquired from new policies for a particular year.

Among private players, SBI Life showed impressive growth of more than 60 per cent, HDFC Life’s NBP grew by 20 per cent, and Max Life also had an impressive growth of above 30 per cent. But, ICICI Prudential’s NBP for February de-grew by 19 per cent.

We have factored the SBI Life’s earning for the FY2021,FY2022 & FY2023 and arrived at the Valuations X3.75; X3.02 & X2.42 , while it is now trading at X4.60 of its Valuation (Last 4Q Earnings), which indicates that SBI Life is running out of its Valuations parameter, though it is growing at rate of 53%.

Disclaimer : We are / may going to take exposure shortly.

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