SBI life has a well balanced portfolio (ULIP - 50.5%, Non-participating - 34.7% and Participating - 15.4%). The focus on maintaining a diversified product mix has resulted in Value of New Business Margin of 15.4% in Fiscal 2017. It is well capitalised with a solvency ratio of 211% (mandatory - 150%). This will ensure growth without dilution in the coming years, boosting the RoE from current level of 17%. Further, 13/37/61 month persistency ratio (Persistency is the percentage of premium of policies remaining in force to the premium of all policies issued) is the best among Private Players (SBI – 81.1/67.4/67.2, ICICI Pru – 85.7/66.8/56.2 & HDFC Life – 80.9/63.90/56.8). This reflects in the lowest surrender ratio of 22.8% among the private players (ICICI Pru – 52.8% and HDFC Life 31.3% for FY2017).