• VNB margin guidance: SBI Life achieved a full-year VNB margin of 27.4% despite GST input tax credit pressures, meeting its guidance range of 26% to 28%, which it plans to maintain going forward.
• Product mix shift: The share of ULIPs declined from 70% to 66% as the company accelerated growth in higher-margin non-ULIP, non-participating, participating, and protection segments.
• Protection segment targets: Pure protection registered 23% growth in the past year following cost-competitive launches on SBI's YONO platform, with management aiming to scale its current 4.3% IRP share to double digits over the medium term.
• Agency channel expansion: Beyond its core bancassurance network, the company is strengthening its agency channel—which currently contributes around 30% of sales—by deploying AI-based tools and comprehensive training to improve agent productivity.
• Regulatory readiness: Management affirmed full operational readiness to adapt to any proposed IRDAI commission and distribution changes while supporting the industry vision of insurance for all by 2047.