SBI General Insurance, one of India’s leading general insurance companies, delivered a strong performance in FY26, growing significantly ahead of the industry.
Gross direct premium crosses key milestone
The company reported a Gross Direct Premium (GDP) of ₹15,904 crore, registering a y-o-y growth of 14.5% and crossing the significant milestone of ₹15,000 crore since its inception.
Improved underwriting and profitability
It demonstrated improved underwriting performance, with the loss ratio improving to 78.3% in FY26 from 82.4% in FY25. Profit After Tax (PAT) stood at ₹553 crore, compared to ₹ 509 crore in FY25.
Growth outpaces industry
SBI General Insurance continues to focus on maintaining a balance between growth and profitability in a dynamic operating environment. The company grew at 1.6 times the industry growth rate, further strengthening its market position.
Market share sees steady expansion
Additionally, the company gained 27 basis points improvement in private & SAHI market share, from 6.90% in FY25 to 7.17% in FY26, reflecting sustained growth momentum and strong execution capabilities.
Segment-wise growth supports momentum
Growth during the year was supported by key segments, with health at 27%, motor at 16%, personal accident (PA) at 40%, and fire at 10%. The diversified business mix continues to support resilience and consistent performance.
Leadership in personal accident segment
SBI General Insurance continued to lead the personal accident (PA) segment, maintaining its position as the No. 1 private and SAHI insurer. In terms of financial position, the company’s solvency ratio stood at 1.90 times, well above the regulatory requirement, highlighting its strong capital position.
MD & CEO on growth strategy
MD & CEO Naveen Chandra Jha said, “Our FY26 performance reflects our continued focus on growing faster than the market consistently while strengthening our core business and growing profit responsibly. At SBI General Insurance, we are focused on improving accessibility to insurance solutions and making protection more inclusive and easier to access for customers across segments and geographies. As we move forward, we remain committed to expanding reach, deepening insurance penetration, and building a future-ready organisation.”
CFO highlights financial discipline
CFO Jitendra Attra said, “Our financial performance reflects strong underwriting discipline and continued focus on operational efficiency. The improvement in loss ratio demonstrates the effectiveness of our risk selection and claims management practices. We will continue to focus on capital efficiency, prudent risk management, and delivering consistent financial performance in a dynamic operating environment.”
Focus on technology and expansion
SBI General Insurance continues to build on its growth trajectory through targeted investments in technology, product innovation, advanced analytics, and customer-centric solutions. The company is also expanding its presence across India by strengthening distribution networks, deepening reach in Tier 2 and Tier 3 markets, and enhancing accessibility through various channels. Backed by a diversified business mix and disciplined execution.