Quarterly net profit of SBI General Insurance ascends by 2.73%, reaching ₹188 crore
In the rapidly evolving insurance sector, SBI General Insurance continues to stand out as one of the fastest-growing general insurers in the country. The company reported a significant 21.49% year-on-year increase in its gross written premium (GWP) for the first quarter of the current fiscal year, reaching an impressive ₹3,250 crore.
The growth was primarily driven by strong performance across key business segments such as motor, health, and personal accident (PA) insurance. These segments saw substantial gains, bolstering the overall premium collections. After adjusting for the 1/n accounting norm, the GWP rose by 25.6%, reflecting sustained momentum across the portfolio.
Robust performance in these core areas contributed to the premium volume, while improved underwriting performance and a notable reduction in loss ratios (from 86.2% to 81.7%) indicated better risk selection and pricing discipline, supporting profitable growth.
SBI General Insurance also made strides in the market, gaining 78 basis points in private market share, currently standing at 6.19%. This improvement reflects growing customer preference and an expanding footprint across key markets.
The company's financial stability was evident in its strong solvency ratio of 2.08, well above regulatory requirements. This ratio, which measures a company's ability to absorb risks, stood at 2.21 in the year-ago period.
Naveen Chandra Jha, MD & CEO of SBI General Insurance, stated that the company started FY26 on a strong note with sustained growth across all key parameters. Jitendra Attra, CFO of SBI General Insurance, echoed this sentiment, noting that the Q1FY26 performance reflects a strong improvement across key financial metrics.
Other segments such as fire, engineering, and liability have also contributed significantly to the growth, further solidifying SBI General Insurance's position in the industry. The company maintains its position as the No. 1 private insurer in the personal accident segment.
This impressive growth comes amidst a backdrop of the private industry growing at 3.5 times the rate of SBI General Insurance. However, SBI General Insurance's growth in GWP is significantly higher than the industry average of 6.2% for private and standalone health insurers.
The company's success can be attributed to disciplined underwriting, risk management, strong business portfolio, and cost efficiency. No other significant external factors, such as regulatory changes or macroeconomic factors, were highlighted specifically in the sources for this growth during Q1FY26.
In conclusion, SBI General Insurance's aggressive business expansion in key segments, coupled with disciplined underwriting and improved portfolio quality, led to its outperformance relative to the general industry growth in the same period.
[1] Source: SBI General Insurance's official press release dated July 24, 2025.
- SBI General Insurance's growth in gross written premium (GWP) during Q1 of the current fiscal year, reaching ₹3,250 crore, was significantly higher than the industry average, indicating its substantial expansion in the insurance market.
- The banking, finance, and investing sectors can take note of SBI General Insurance's success, as its disciplined underwriting, risk management, strong business portfolio, and cost efficiency have contributed to its outperformance.
- In the rapidly evolving insurance industry, SBI General Insurance maintained its position as a premium player, with robust performance across segments such as motor, health, personal accident, fire, engineering, and liability.
- The impressive growth of SBI General Insurance in Q1FY26, with a rise in GWP by 21.49% year-on-year, was supported by better risk selection, improved pricing discipline, and a notable reduction in loss ratios.
- As SBI General Insurance continues to expand its business and improve its financial stability, it has gained market share, currently standing at 6.19%, and is the No. 1 private insurer in the personal accident segment.
