SBI General Insurance has delivered a remarkable financial performance in the fiscal year 2024-25, recording a substantial surge in its profit after tax. For the full year, the company’s profit after tax reached ₹509 crore, representing a 112 percent year-on-year increase, a figure that more than doubles its previous year’s result. This impressive growth follows an already robust showing in the first nine months of FY25, when the insurer had posted a 273 percent year-on-year rise in profit after tax to ₹504 crore, underscoring the company’s strong momentum throughout the year.
The company’s gross written premium grew by 11.1 percent to ₹14,140 crore, significantly outpacing the industry’s growth rate of 6.2 percent. When adjusted for the impact of the 1/n accounting norm, premium growth stood at an even higher 14.5 percent. This performance has enabled SBI General Insurance to expand its private market share by 23 basis points, further consolidating its position as a leading player in India’s general insurance sector.
A closer look at the business segments reveals that the motor insurance portfolio was a major driver, registering a year-on-year growth of 31.2 percent for the full year and an even higher 39 percent in the first nine months. The health insurance segment also contributed significantly, growing by 19.2 percent for the year and 12 percent in the first nine months. The company’s commercial lines, including marine cargo and engineering, added further strength to the overall growth trajectory. SBI General Insurance maintained its leadership in the personal accident segment, continuing as the top private insurer in this category.
Financial stability remains a cornerstone for the company, with a solvency ratio of 2.03 for the year and 2.12 in the first nine months, both comfortably above the regulatory minimum of 1.50. This robust solvency position highlights the insurer’s prudent risk management and operational resilience. The company also reported an improvement in its loss ratio by approximately four percent compared to the previous year, a result of enhanced claims management and data-driven risk assessments.
Also Read | SBI General Insurance Reports 273% PAT Growth in 9M FY25
Leadership at SBI General Insurance attributes these results to a sustained focus on customer service, operational efficiency, and innovation. The company’s managing director and CEO, Naveen Chandra Jha, emphasised their commitment to inclusive growth and delivering reliable, affordable insurance solutions to customers across India. As the company celebrates its fifteenth anniversary, it remains dedicated to expanding insurance accessibility and reinforcing financial security for millions.
These results have been reported across multiple reputable sources, including Business Standard, Business World, Economic Times BFSI, APN News, and BFSI Elets Online, reflecting the broad recognition of SBI General Insurance’s strong financial performance in FY25
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