mumbai countrys second largest private life insurer sbi life insurance on monday projected its new premium growth to be around 30 per cent in fy 0910 a little higher than the current fiscalwe are likely to complete the current fiscal with around 25 per cent growth in the new business premium the next fiscal is also likely to record 2530 per cent growth sbi life managing director and chief executive officer uday sankar roy told pti heresbi life had anticipated around 70 per cent growth in new premium for 200809 but a poor show in the fourth quarter impacted its marginstraditionally the fourth quarter yields almost half of the business for the entire year for a life insurance firmthe poor show in the fourth quarter can be attributed to the current meltdown it is not that there is not enough cash in the country people are actually extracareful with their money and are more conservative in their approach towards investment than before roy saidsbi life is likely to register three times growth in the renewals this fiscal he said adding that companys total premium growth was not bad at all during the year