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.
Growth during the year was supported by key segments, with Health 27 per cent, Motor 16 per cent, Personal Accident (PA) 40 per cent , and Fire 10 per cent.
SBI General Insurance continued to lead the Personal Accident (PA) segment,maintaining its position as the No. 1 among the private sector general insurers.
The company 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.
Jitendra Attra, CFO, SBI General Insurance, added 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.”
Additionally,the cmpany 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.
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.