SBI General Insurance has kicked off FY26 with a commanding performance, outpacing private sector peers and reinforcing its position as one of India’s fastestgrowing general insurers.
Performance Highlights:
-
SBI General’s market share among private insurers rose by 78 basis points to 6.19% in Q1 FY26.
-
The company posted a Gross Written Premium (GWP) of Rs 3,250 crore, marking a 21.5% yearonyear growth—well above the industry average of 6.2%.
-
Profit After Tax stood at Rs 188 crore, supported by improved underwriting discipline and a lower loss ratio of 81.7%, down from 86.2% last year.
SegmentWise Growth:
-
Health insurance led the charge with a 72 bps market share gain, followed by motor insurance at 47 bps and personal accident at 49 bps.
-
Fire, engineering, and liability segments also contributed significantly, driven by rising demand and digital adoption.
Strategic Outlook:
-
SBI General retained its leadership in the personal accident category among private insurers.
-
The company’s solvency ratio of 2.08 remains well above regulatory norms, reflecting strong financial health.
-
Management emphasized a focus on balanced growth, customercentric innovation, and operational excellence to sustain momentum.
Leadership Commentary:
MD and CEO Naveen Chandra Jha credited the performance to agile execution and rising consumer awareness, while CFO Jitendra Attra highlighted disciplined underwriting and cost efficiency as key drivers.
Sources: Economic Times, BusinessWorld, Hindu BusinessLine, PrimeView, ET BFSI.