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 and growing profit responsibly.”
Mumbai:SBI General Insurance on Friday reported an 8.6 per cent rise in net profit to Rs 553 crore for the financial year ended March 2026.
The non-life subsidiary of State Bank of India had recorded a net profit of Rs 509 crore in the preceding financial year.
The company reported a gross direct premium (GDP) of Rs 15,904 crore, registering a growth of 14.5 per cent, it added.
It demonstrated improved underwriting performance, with the loss ratio improving to 78.3 per cent in FY26 from 82.4 per cent in FY25.
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 and growing profit responsibly.”
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, SBI General Insurance said in a statement.