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SBI General’s net profit at Rs 396 cr, up 160 % in 2017-18

Pushan Mahapatra, MD & CEO, SBI General Insurance said ,“We have recorded a lower loss ratio and minimised our operating expenses further.Our profits for the FY 17 – 18 have seen an upward trajectory due to our current distribution footprint, risk acceptance, claims handling and cost efficiencies ”

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Insurance companies to refund excess premium under NHPM

“We have proposed that the insurance companies will have to mandatorily refund the excess premium if the claim ratio turns out to be less than 85 percent under this project. This will ensure that insurance agencies do not have windfall gain from the ambitious scheme which aims at supporting the poorest 40 percent of the population for expenditure on health treatment,” said Bhushan .

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