SBI General Insurance Posts 14.5% Premium Growth in FY26, Outpaces Industry Expansion
Gross Direct Premium rises to ₹15,904 crore; insurer reports improved underwriting performance and higher profitability
SBI General Insurance also reported improvement in its private and SAHI market share, which increased by 27 basis points from 6.90% in FY25 to 7.17% in FY26.
Mumbai: SBI General Insurance reported strong financial performance for FY26, with Gross Direct Premium (GDP) growing 14.5% year-on-year to ₹15,904 crore, making it one of the fastest-growing insurers among the top 10 insurance companies in India.
The company said its growth rate was 1.6 times higher than the overall industry growth during the year, further strengthening its market position.
SBI General Insurance also reported improvement in its private and SAHI market share, which increased by 27 basis points from 6.90% in FY25 to 7.17% in FY26.
The company’s growth was driven by multiple segments, including health insurance, which grew 27%, motor insurance at 16%, personal accident insurance at 40%, and fire insurance at 10%.
The insurer said it continued to maintain leadership in the personal accident segment among private and SAHI insurers.
On the profitability front, the company reported improvement in underwriting performance, with loss ratio reducing to 78.3% in FY26 from 82.4% in FY25.
Profit After Tax (PAT) increased to ₹553 crore compared to ₹509 crore in the previous financial year.
The company’s solvency ratio stood at 1.90 times, remaining well above the regulatory requirement and indicating a strong capital position.
MD & CEO, SBI General Insurance, Naveen Chandra Jha said the company remains focused on growing faster than the market while strengthening profitability and expanding insurance accessibility across customer segments and geographies.
He said the company would continue investing in deeper market penetration, customer-centric insurance solutions and building a future-ready organisation.
CFO Jitendra Attra said improved underwriting discipline, risk selection and claims management practices contributed to the company’s stronger financial performance.
SBI General Insurance said it plans to continue investing in technology, product innovation, advanced analytics and distribution expansion, particularly across Tier 2 and Tier 3 markets, to sustain profitable growth and strengthen its position in India’s general insurance sector.
