The insurer reported a Gross Direct Premium (GDP) of INR 15,904 crores, marking a year-on-year growth of 14.5 percent and crossing the significant milestone of INR 15,000 crores since inception. The company expanded at 1.6 times the industry growth rate, reinforcing its strong market positioning and execution strength.
SBI General Insurance also improved its private and SAHI market share by 27 basis points, rising from 6.90 percent in FY25 to 7.17 percent in FY26. Growth during the year was driven by strong performance across key business segments, including Health at 27 percent, Motor at 16 percent, Personal Accident at 40 percent, and Fire at 10 percent. The diversified portfolio continued to strengthen resilience and ensure steady performance across cycles. The company retained its leadership position in the Personal Accident segment, remaining the number one private and SAHI insurer.
On the profitability front, SBI General Insurance demonstrated marked improvement in underwriting efficiency. The loss ratio improved to 78.3 percent in FY26 from 82.4 percent in FY25, reflecting stronger risk selection and claims management practices. Profit After Tax stood at INR 553 crores, up from INR 509 crores in the previous financial year. The solvency ratio remained strong at 1.90 times, well above regulatory requirements, highlighting a stable and well-capitalised balance sheet.
Commenting on the performance, Naveen Chandra Jha, Managing Director and Chief Executive Officer of SBI General Insurance, stated that the FY26 results reflect the company’s consistent focus on growing faster than the market while strengthening core operations and ensuring responsible profitability. He emphasised the company’s commitment to improving access to insurance solutions and expanding financial protection across customer segments and geographies.
Jitendra Attra, Chief Financial Officer, highlighted that the financial performance is a result of strong underwriting discipline and operational efficiency. He noted that improvements in the loss ratio demonstrate effective risk management and claims control, with continued focus on capital efficiency and sustainable financial outcomes.
The company continues to invest in technology, product innovation, advanced analytics, and customer-focused solutions while expanding its distribution reach across India. Strengthening its presence in Tier 2 and Tier 3 markets remains a strategic priority, supported by a wide network of channels and partnerships.
SBI General Insurance operates through a diversified multi-channel distribution model, including Bancassurance, Agency, Original Equipment Manufacturer partnerships, Broking, Retail Direct channels, and digital collaborations. The company leverages more than 22,000 State Bank of India branches, along with agents, financial alliances, and OEM partners, enabling deep penetration across urban and rural India. Its offerings cater to Retail, Corporate, Small and Medium Enterprises, and Rural segments.
Established in 2009, SBI General Insurance has grown from 17 branches in 2011 to a nationwide network of 146 branches. With over 9,000 employees, the company continues to expand its footprint while strengthening accessibility and customer reach.
The insurer has received multiple prestigious recognitions, including Domestic General Insurer of the Year – India and Claims Initiative of the Year – India at the Insurance Asia Awards 2025 in Singapore. It has also been honoured at the Mint BFSI Summit & Awards, InsureNext Awards 2024, Insurance Conclave Awards, India Insurance Summit & Awards 2024, ET NOW Best BFSI Brands Conclave 2024, and BW BusinessWorld’s India’s Most Respected Companies. The company was certified as a Great Place to Work in 2024 and recognised at the ETBFSI Exceller Awards 2024 for excellence in claims management and corporate social responsibility initiatives.
With a strong foundation, diversified portfolio, and disciplined execution strategy, SBI General Insurance remains well-positioned to sustain profitable growth and further strengthen its leadership in the Indian general insurance sector.
About The Author
Comment List