Mumbai, September 1, 2026: SBI General Insurance has started FY27 on a strong note, reporting a 10.9% year-on-year increase in Gross Direct Premium Income (GDPI) to ₹3,506 crore during Q1 FY27. The insurer said its performance was supported by a diversified portfolio, disciplined execution and a strong capital position.
The company recorded broad-based growth across key retail and commercial segments. Health insurance grew 49.9%, Personal Accident (PA) increased 26.3%, while Engineering and Marine-Cargo premiums rose 95.4% and 16.8%, respectively. The performance reflects the insurer’s focus on expanding its presence across multiple business lines while responding to evolving customer and enterprise protection needs.
SBI General Insurance reported Comprehensive Income of ₹573 crore and Profit After Tax (PAT) of ₹426 crore under the newly adopted Ind AS framework. Its solvency ratio stood at 2.0 times, while the Combined Operating Ratio (COR) was 96.18% for the quarter, highlighting its financial resilience and underwriting discipline.
The quarter also marked a significant reporting milestone, as SBI General Insurance became the first general insurance company to release its financial statements under the newly adopted Ind AS framework. The company said the transition will enhance transparency, governance and comparability for stakeholders.
Naveen Chandra Jha, MD & CEO, SBI General Insurance, said the company had begun FY27 with sustained growth across key parameters. He highlighted the ₹3,506 crore GDPI and ₹573 crore comprehensive income as evidence of the company’s focus on balanced growth and profitability.
Jitendra Attra, CFO, SBI General Insurance, said the company’s 10.9% GDPI growth reflected sustained momentum across key segments, while its 17.4% growth in Comprehensive Income demonstrated continued financial progress.
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Going forward, SBI General Insurance plans to focus on disciplined scaling, stronger underwriting, operational efficiency, technology and distribution, positioning itself for continued growth in India’s evolving general insurance market.
