Bancassurance channel growth slowdown
Bancassurance growth was muted in Q4, with low single-digit growth, raising concerns about channel momentum.
SBILIFE / Q4-FY24 / risks
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SBI Life Insurance Company · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
ULIP demand dependency on equity markets
Strong ULIP growth was driven by favorable equity markets; a market downturn could shift customer preferences and impact product mix.
Individual protection business decline
Individual protection new business premium declined 5% in FY24, and management's efforts to revive it face competitive and demand challenges.
Competitive pressure in Tier 2/3 cities
Increased competition from other private players expanding into Tier 2/3 cities could pressure commission costs and margins.