During the period under review solvency ratio stood at 2.08 against 2.21 in the year-ago period.
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SBI General Insurance on Thursday reported a 2.73 per cent year-on-year increase in its net profit to ₹188 crore for the first quarter this fiscal as its gross written premium grew 21.49 per cent y-o-y during the period.
The private sector general insurance company had posted a net profit of ₹183 crore in the first quarter of the last financial year.
The company’s gross written premium (GWP) stood at ₹3,250 crore for Q1FY26 compared to ₹2,675 crore for Q1FY25. Posting a topline growth of 21.5 per cent, significantly higher than the industry (private & standalone health insurers) growth of 6.2 per cent, marked the company as one of the fastest-growing general insurers in the country, SBI General Insurance said in a release.
“The company gained 78 basis points improvement in private market share, i.e. 6.19 per cent, reflecting growing customer preference and an expanding footprint across key markets,” the insurer said, adding its loss ratio improved from 86.2 per cent in Q1FY25 to 81.7 per cent in Q1FY26.
During the period under review solvency ratio stood at 2.08 against 2.21 in the year-ago period.
SBI General Insurance said it continued to lead the personal accident (PA) segment, maintaining its position as the No. 1 private insurer. “The company gained market share in the key categories of Health by 72 basis points , motor by 47 bps and personal accident by 49 bps. The health and otor insurance lines of business remain key growth drivers, while other segments, such as fire, ngineering, and liability, have also contributed significantly to the growth,” it added.
Commenting on the quarterly performance, Naveen Chandra Jha, MD & CEO, SBI General Insurance, said, “We have started FY26 on a strong note with sustained growth across all key parameters. Our GWP stood at ₹3250 crore, reflecting focus on balanced growth and profitability, backed by customer trust and agile execution. The insurance industry is evolving rapidly, shaped by rising awareness, regulatory momentum, and increasing adoption of digital platforms.”
Jitendra Attra, CFO, said, “Our Q1FY26 performance reflects a strong improvement across key financial metrics. Despite growing at 3.5X compared to private industry growth, our loss ratio has shown significant improvement demonstrating disciplined underwriting, risk management, strong business portfolio and cost efficiency.”
Published on July 24, 2025
