SBI General Insurance’s annual GDP crosses Rs 15,000 crore for first time, PAT jumps 8.7% YoY in FY26

SBI General Insurance has reported a strong FY26 performance, with gross direct premium (GDP) rising 14.5% year-on-year to Rs 15,904 crore, crossing the Rs 15,000 crore mark for the first time since inception. Its profit after tax rose to Rs 553 crore in FY26, up 8.7% from Rs 509 crore in the previous year.

The company said its premium growth was 1.6 times higher than the overall industry growth rate, helping it strengthen its position in the market. It also recorded an improvement in private and SAHI market share, which increased by 27 basis points to 7.17% in FY26 from 6.90% in FY25.

Growth during the year was led by multiple segments. Health insurance premiums grew 27%, motor insurance rose 16%, personal accident business increased 40%, while fire insurance expanded 10%. The company said its diversified product mix continued to support stable growth across categories.


SBI General Insurance also retained its leadership position in the personal accident segment among private and SAHI insurers.

On profitability, the insurer reported an improvement in underwriting metrics. Loss ratio declined to 78.3% in FY26 from 82.4% in FY25, indicating lower claims outgo relative to premium earned.

Its solvency ratio stood at 1.90 times at the end of FY26, comfortably above the regulatory requirement, reflecting a strong capital base.

Managing Director and CEO Naveen Chandra Jha said the company remains focused on growing faster than the market while improving profitability and expanding insurance access across customer segments and geographies. He added that the insurer plans to deepen reach and build a future-ready business.

Chief Financial Officer Jitendra Attra said the improvement in loss ratio reflected disciplined underwriting, better risk selection and effective claims management. He said the company would continue to focus on capital efficiency and prudent risk management.

The insurer said it is continuing investments in technology, product development, analytics and customer-focused solutions to support future growth. It is also expanding its distribution footprint across India, with a greater focus on Tier 2 and Tier 3 markets and broader access through multiple channels.

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