Regulatory open architecture in bancassurance
Government/regulator may mandate banks to offer products from multiple insurers, potentially impacting SBI Life's bancassurance dominance.
SBILIFEINSURANCE / Q4-FY26 / risks
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Sbi Life Insurance · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Cost ratio pressure from GST and labor law
OPEX ratio rose to 6.1% (from 5.3%) due to GST and labor code; full-year GST impact may keep costs elevated.
Equity market volatility impacting ULIP demand
Recent geopolitical events and market volatility could dampen ULIP sales, which still form 65% of individual APE.