SBI General Insurance, a prominent player in India’s general insurance sector, has recorded an impressive financial performance for the first nine months of FY25. The company reported a Profit After Tax (PAT) of ₹504 crore, marking a remarkable year-on-year growth of 273%.
The company also saw its Gross Written Premium (GWP) increase by 10.9%, while its Gross Direct Premium (GDP) grew by 10.5%, surpassing the industry’s growth rate of 7.8%. With a solvency ratio of 2.12 times, well above the regulatory requirement of 1.50, SBI General Insurance demonstrated its strong financial stability.
Key growth drivers for this period included robust performances across major business segments. The Motor Insurance portfolio posted a year-on-year growth of 39%, attributed to enhanced underwriting strategies and the expansion of digital channels for seamless policy management. The Health Insurance segment grew by 12%, driven by increased demand for comprehensive coverage, heightened health awareness, and government initiatives. The company also achieved a significant improvement in its loss ratio, reducing it by approximately 4% compared to the same period last year, through efficient claims management and data-driven risk assessments.
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Commenting on the Company’s performance, Naveen Chandra Jha, MD & CEO, SBI General Insurance, said “Our strong financial performance in 9M FY25 reflects our steadfast dedication to customer-focused innovation, operational excellence, and sustainable growth. The notable growth across our Motor, Health, and Engineering segments demonstrates our agility in responding to market trends and our commitment to delivering value to policyholders and stakeholders”
Jitendra Attra, CFO, SBI General Insurance, added: “Our consistent financial performance in 9M FY25 underscores disciplined underwriting practices, a collaborative team effort, and a strong focus on operational excellence. The significant increase in profitability and solvency highlights our robust business fundamentals and ability to foresee and adapt to a dynamic market environment. “
SBI General Insurance remains committed to its customer-first approach, leveraging innovation and a diversified product portfolio to drive sustained profitability and expand its market presence. The company’s strategic initiatives and operational excellence continue to solidify its position as a leader in the general insurance sector.
