MUMBAI: SBI General Insurance has posted an impressive profit after tax (PAT) of Rs504 crore for the first nine months of FY25, reflecting a remarkable year-on-year growth of 273 per cent.
The company’s gross written premium (GWP) rose by 10.9 per cent, with gross direct premium (GDP) growth of 10.5 per cent, outperforming the industry average of 7.8 per cent. SBI General’s solvency ratio stands strong at 2.12 times, well above the regulatory minimum of 1.50, highlighting its solid financial foundation.
SBI General Insurance, backed by State Bank of India, is among the fastest-growing private general insurers in India. Since its establishment in 2009, the company has expanded its network to over 144 branches.
Motor insurance grows 39%
The company’s performance was driven by robust growth in key segments. The motor insurance portfolio saw a 39 per cent year-on-year growth, supported by improved underwriting strategies and expanded digital channels.
The health insurance segment grew by 12 per cent, fueled by increased healthcare awareness and rising demand for comprehensive coverage. Additionally, the company’s loss ratio improved by ≈4% due to better risk management and efficient claims processing.
Naveen Chandra Jha, MD & CEO, SBI General Insurance, stated, “Our performance underscores our commitment to customer-focused innovation, operational excellence, and sustainable growth. The growth across Motor, Health, and Engineering segments demonstrates our ability to respond to market trends and deliver value.”
Jitendra Attra, CFO, added, “Our profitability and solvency improvement reflect disciplined underwriting practices, strong team collaboration, and adaptability in a dynamic market environment.”
SBI General continues to focus on growth through a diversified product portfolio and customer-centric strategies, contributing to its sustained profitability and expanding market presence.
