SBI General Insurance: Press Release | SBI General Insurance Reports Powerful Growth of 14.5% in GDP in FY26; grows 1.6x faster than the industry

New Delhi : SBI General Insurance, one of India’s leading general insurance companies, delivered a strong performance in FY26, growing significantly ahead of the industry and reinforcing its market position. Continuing its growth trajectory, the Company reported a Gross Direct Premium (GDP) of INR 15,904 crores, registering a YOY growth of 14.5% and crossing the significant milestone of INR 15,000 crores since inception.

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. Additionally, the Company gained 27 basis points improvement in private & SAHI market share from 6.90% in FY 25 to 7.17% in FY26, reflecting sustained growth momentum and strong execution capabilities. Growth during the year was supported by key segments, with Health 27%, Motor 16%, Personal Accident (PA) 40%, and Fire 10%. The diversified business mix continues to support resilience and consistent performance. SBI General Insurance continued to lead the Personal Accident (PA) segment, maintaining its position as the No. 1 in private and SAHI insurer.

This year, the Company 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 INR 553 crores, compared to INR 509 crores in FY25. 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.

Commenting on the Company’s performance, Mr. Naveen Chandra Jha, MD & CEO, SBI General Insurance, said, “Our FY26 performance reflects our continued focus on growing faster than the market consistently while strengthening our core business & 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 organization.”

Mr. Jitendra Attra, CFO, SBI General Insurance, added, “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.”

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, SBI General Insurance is well positioned to sustain profitable growth and further consolidate its standing in the Indian general insurance sector.