How did SBI General Insurance achieve a 10.7% growth in H1 FY26?
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Synopsis
Discover how SBI General Insurance has outperformed industry standards with a 10.7% growth in gross written premium for H1 FY26. This remarkable achievement is fueled by strong growth in health, personal accident, and motor sectors. Read on to find out the driving forces behind this success and what it means for the insurance market.
Key Takeaways
- SBI General Insurance reported a 10.7% increase in GWP for H1 FY26.
- Health business experienced a remarkable growth of 41%.
- Personal accident segment grew by 48%.
- The company achieved a profit after tax of Rs 422 crore.
- Maintained a strong solvency ratio of 2.13 times.
New Delhi, Oct 23 (NationPress) The general insurance provider SBI General Insurance revealed on Thursday a remarkable 10.7 percent surge in its gross written premium (GWP), reaching Rs 7,376 crore for the first half of FY26, outpacing the industry growth rate of 7.3 percent.
This growth in H1 FY26 was propelled by exceptional performance across key sectors: the health segment grew by 41 percent, personal accident (PA) surged by 48 percent, and the motor sector increased by 17 percent, as stated in the announcement.
Excluding the impact of the 1/n accounting norms, GWP experienced a growth rate of 13.9 percent. These accounting norms require insurance companies in India to recognize premiums from long-term policies uniformly over the duration of the policy instead of all at once.
The company enhanced its private market share by 38 basis points, climbing to 6.83 percent from 6.45 percent a year prior, and reported a profit after tax of Rs 422 crore.
The growth has been attributed to SBI General Insurance’s expanding distribution network and enhanced digital ecosystem.
The statement indicated, "The Ex-Crop business has grown by 24 percent, contrasting with private insurance growth at 8 percent."
The loss ratio improved to 79.6 percent in H1 FY26, down from 86.1 percent in H1 FY25. Furthermore, the company maintained a robust solvency ratio of 2.13 times, significantly surpassing the regulatory requirement, illustrating a strong financial standing and prudent capital management.
“In H1 FY26, SBI General Insurance expanded 1.4 times faster than the industry and three times faster than private & SAHI insurance companies (excluding crop insurance),” stated Naveen Chandra Jha, MD & CEO of SBI General Insurance.
Over recent months, the company has bolstered its distribution network, fostered partnerships, and improved its digital capabilities, according to Jha.
Jitendra Attra, CFO of SBI General Insurance, noted that growth across multiple business lines reflects the insurer's diverse portfolio and responsiveness to changing market demands.
Point of View
I commend SBI General Insurance for its impressive performance, which highlights its adaptability and innovative strategies in a competitive market. This growth is not just a number; it reflects the company's commitment to meeting evolving consumer needs and enhancing its service offerings, ensuring a promising future in the insurance sector.
NationPress
23/10/2025
Frequently Asked Questions
What is the gross written premium of SBI General Insurance for H1 FY26?
SBI General Insurance reported a gross written premium of Rs 7,376 crore for H1 FY26.
How much did the health business grow in H1 FY26?
The health business grew by 41 percent in H1 FY26.
What is the significance of the 1/n accounting norm?
The 1/n accounting norm requires insurance companies to recognize premiums from long-term policies evenly over the policy term.
What was the profit after tax reported by SBI General Insurance?
SBI General Insurance reported a profit after tax of Rs 422 crore.
What is the loss ratio for H1 FY26?
The loss ratio improved to 79.6 percent in H1 FY26.
