Approach to Reporting

This Integrated Annual Report for FY 2024-25 reflects the commitment to transparency, accountability and stakeholder value creation. The Company's reporting approach is designed to provide a comprehensive view of our financial and non-financial performance, strategic objectives, risks and opportunities in a way that is aligned with global best practices and regulatory requirements.

The Company continues to evolve its reporting practices to keep pace with emerging expectations and sustainability imperatives. Our disclosures are built around integrated thinking, showcasing how we leverage various capitals, engage meaningfully with stakeholders and contribute to national and global development goals.

Reporting Objective

Our objective is to provide relevant, consistent and comparable financial and non-financial information that supports stakeholders in making well-informed decisions. This Report outlines our operating context, strategy, business model, governance, risk landscape, stakeholder engagement and performance across multiple capitals.

Scope and Boundary

This Report covers SBI Life's operations and performance for the period April 1, 2024 to March 31, 2025, including both financial and non-financial activities.

Reporting Framework

This Report has been prepared in compliance with:

Insurance Act, 1938
Companies Act, 2013
IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024
SEBI (LODR) Regulations, 2015
Accounting Standards (ICAI)
Secretarial Standards (ICSI)

It also draws guidance from the <IR> Framework (IFRS Foundation) and aligns with global benchmarks for non-financial reporting.

Voluntary Reporting and ESG Alignment

SBI Life was the first Indian life insurer to voluntarily adopt integrated reporting in FY 2018-19. This marks the Company's seventh Integrated Annual Report, reinforcing our commitment to sustainable and responsible business practices.

We have also published a detailed ESG Report, which provides a deeper look into our Environmental, Social and Governance initiatives

[Access the ESG Report here]

Board Approval

The Board of Directors affirms that it has applied its collective mind in the preparation and presentation of this Report. It acknowledges the integrity and accuracy of disclosures and confirms that the Report presents a fair, balanced and comprehensive view of the Company’s performance.

Responsibility Statement

This Report is the outcome of a coordinated effort by the senior management, Audit Committee and the Board of Directors. It has been developed in line with the <IR> Framework and reflects our values of integrity, accountability and transparency.

Forward-looking Statements

Certain statements in this Report may constitute forward-looking information. These reflect current expectations but are subject to various risks and uncertainties. Actual results may differ materially from those expressed or implied.

Our Material Topics

We assess material matters based on stakeholder input, internal assessments and regulatory trends. These issues significantly influence our ability to create sustainable value.