SBI General Insurance posts 21.5% growth in Q1FY26, outpaces industry growth of 6.2%

SBI General Insurance has reported a strong business performance for the first quarter of FY26, registering a 21.5% year-on-year growth in topline, significantly outpacing the industry growth of 6.2% (including Private and SAHI players).

Profit Before Tax (PBT) stood at Rs 249 crore, while Profit After Tax (PAT) was reported at Rs 188 crore.

The company’s performance positions it as one of the fastest-growing general insurers in the country.


During the quarter, the company reported a Gross Written Premium (GWP) of Rs 3,250 crore. Adjusted for the 1/n accounting norm, the GWP rose by 25.6% YoY, indicating continued momentum across its business segments.

The company achieved a 78 basis points improvement in private market share, reaching 6.19%, a reflection of growing customer preference and wider presence in key markets.

The loss ratio improved notably from 86.2% to 81.7%, highlighting stronger portfolio quality and disciplined underwriting. The solvency ratio stood at 2.08, well above the regulatory requirement, indicating sound financial stability.

Segment highlights

SBI General Insurance maintained its leadership in the Personal Accident (PA) segment, retaining its position as the No. 1 private insurer in that category. It also gained market share in:

• Health Insurance by 72 basis points
• Motor Insurance by 47 basis points
• Personal Accident Insurance by 49 basis points

The health and motor insurance lines remained the primary growth drivers. Other segments, such as Fire, Engineering, and Liability, also contributed meaningfully to the company’s overall growth.

The company attributed its robust Q1 performance to factors such as increased demand for comprehensive insurance coverage, enhanced digital adoption, rising awareness, and favourable government policy support.

“We have started FY26 on a strong note with sustained growth across all key parameters. Our GWP stood at INR 3250 crores, reflecting focus on balanced growth and profitability, backed by customer trust and agile execution. The insurance industry is evolving rapidly, shaped by rising awareness, regulatory momentum, and increasing adoption of digital platforms. Our performance is a reflection of our steadfast dedication to customer-focused innovation, operational excellence, and sustainable growth. We remain committed to further strengthening our capabilities and delivering on our promise of protecting what matters most to our customers,” said Naveen Chandra Jha, MD & CEO of SBI General Insurance, while commenting on the Q1 performance.

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