Mumbai: SBI General Insurance, one of India’s fastest-growing general insurers, has reported a 21.5% growth in Gross Written Premium (GWP) for Q1 FY26, significantly outpacing the private industry and SAHI (Standalone Health Insurers) segment average of 6.2%.
This exceptional performance marks the company as a major growth leader in India’s general insurance landscape.
The company’s GWP reached ₹3,250 crores for the quarter. Excluding the impact of the 1/n accounting norm, GWP growth stood at an impressive 25.6%, underscoring strong customer demand and effective expansion strategies.
Key Financial Highlights:
- Market Share Gain: 78 basis point increase in the private market, bringing SBI General Insurance’s share to 6.19%
- Profit Before Tax (PBT): ₹249 crores
- Profit After Tax (PAT): ₹188 crores
- Loss Ratio: Improved from 86.2% to 81.7%
- Solvency Ratio: 2.08, well above the IRDAI’s minimum requirement
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“We have begun FY26 with strong momentum across all key parameters. This reflects our balanced growth strategy, customer-centricity, and disciplined execution,” said Naveen Chandra Jha, MD & CEO, SBI General Insurance.
SBI General Insurance: Segment Leadership and Market Expansion
SBI General Insurance continues to maintain its No. 1 position in the Personal Accident (PA) segment among private insurers. The company also gained substantial market share across:
- Health Insurance: +72 bps
- Motor Insurance: +47 bps
- Personal Accident: +49 bps
The strong performance is attributed to heightened consumer awareness, a surge in demand for comprehensive coverage, increasing digital adoption, and favorable regulatory momentum.
Key segments like Health and Motor remain the primary growth engines, while Fire, Engineering, and Liability also contributed significantly.
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“Our performance this quarter showcases strong underwriting discipline, risk management, and cost efficiency,” said Jitendra Attra, CFO. “Growing at 3.5X the private industry rate while improving our loss ratio highlights our resilient portfolio and robust business fundamentals.”
Future Outlook
With a strategic focus on customer-first innovation, digital transformation, and sustainable growth, SBI General Insurance is well-positioned to continue its upward trajectory in an evolving insurance ecosystem. The company aims to build long-term stakeholder value through operational excellence and market responsiveness.
