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Fashion Value Chain
03-08-2025
- Business
- Fashion Value Chain
SBI General Insurance Grows 2.4 Times Faster than the Industry with 21.5 Percentage Growth in Q1 FY 26
SBI General Insurance, one of India's leading general insurance companies, announced its financial results for Q1 FY26, posting a topline growth of 21.5%, significantly higher than the industry (Private & SAHI) growth of 6.2%, marking the Company as one of the fastest-growing general insurers in the country. The Company reported a Gross Written Premium (GWP) of INR 3250 crores, maintaining its upward momentum. Excluding the impact of 1/n accounting norm, the GWP of the Company grew by 25.6% for Q1FY26. SBI General Insurance reports robust growth in Q1 FY26, with a Gross Written Premium (GWP) of INR 3250 crores. #SurakshaAurBharosaDono The Company gained 78 basis points improvement in private market share, i.e. 6.19% reflecting growing customer preference and an expanding footprint across key markets. The Profit Before Tax (PBT) stood at INR 249 crores, while the loss ratio improved significantly from 86.2% to 81.7%, indicating stronger portfolio quality and disciplined underwriting. Continuing to outpace industry growth, the company reported a Profit After Tax (PAT) of INR 188 crores. The solvency ratio stood at 2.08, well above the regulatory requirement demonstrating strong financial stability. SBI General Insurance continues to lead the Personal Accident (PA) segment, maintaining its position as the No. 1 private insurer. The company gained market share in the key categories of Health by 72 bps , Motor by 47 bps and Personal Accident by 49 bps. The Health and Motor Insurance lines of business remain key growth drivers, while other segments, such as Fire, Engineering, and Liability, have also contributed significantly to the growth. This growth has been propelled by rising awareness, increased demand for comprehensive coverage, growing digital adoption, and supportive government policies. Commenting on the Company's quarterly performance, Mr. Naveen Chandra Jha, MD & CEO, SBI General Insurance, said, '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.' Mr. Jitendra Attra, CFO, SBI General Insurance, added, 'Our Q1 FY26 performance reflects a strong improvement across key financial metrics. Despite growing at 3.5X compared to private industry growth, our Loss ratio has shown significant improvement demonstrating disciplined underwriting, risk management, strong business portfolio and cost efficiency. The significant increase in profitability and solvency highlights our robust business fundamentals and our ability to foresee and adapt to a dynamic market environment. We will continue to focus on delivering value to all stakeholders while sustaining our growth momentum.' With a clear focus on customer-centricity, innovation, and operational strength, SBI General Insurance remains well-positioned to drive responsible growth and create long-term value in the evolving insurance landscape. About SBI General Insurance SBI General Insurance, one of the fastest-growing private general insurance firms, backed by the robust support of SBI, upholds a legacy of trust and security. We position ourselves as Indias most trusted general insurer amidst a dynamic landscape. Since our establishment in 2009, our expansion has been substantial, growing from 17 branches in 2011 to a nationwide presence in 146 branches. In FY 2024-25, SBI General Insurance reported a Gross Written Premium (GWP) of INR 14,140 crores, recording a YOY growth of 11.1%. The company received numerous prestigious accolades, showcasing its excellence across various domains. Key honors include being named as the Domestic General Insurer of the Year – India and Claims Initiative of the Year – India at Insurance Asia Awards 2025 Singapore, Large General Insurance category at the Mint BFSI Summit & Awards, the 3rd InsureNext Awards 2024 for Best Claims Settlement, and India's Best General Insurer of the Year at the 7th Insurance Conclave Awards. At the India Insurance Summit & Awards 2024, the company secured titles for General Insurance Company of the Year and Leading Implementer of Analytics Technology in Insurance. Additionally, it was honored as the Best BFSI Brand at the ET NOW Best BFSI Brands Conclave 2024 and included in BW BusinessWorld's India's Most Respected Companies. Certified as a Great Place to Work in 2024, the company also excelled at the ETBFSI Exceller Awards 2024 with recognition for Best Claims Management in Insurance and Best CSR Campaign of the Year, further highlighting its commitment to social responsibility and innovation. With a team of over 9,000+ employees and our multi-distribution model covering Bancassurance, Agency, OEM, Broking, Retail Direct Channels, and Digital collaborations, we are committed to providing both Suraksha and Bharosa to all our consumers. Leveraging a vast network that includes over 22000+ SBI branches, plus agents, financial alliances, OEMs, and digital partners, we extend our services to even the most remote areas of India. Our offerings cater to Retail, Corporate, SME and Rural segments, and our diverse product portfolio ensures accessibility through both digital and physical channels.
Business Standard
29-07-2025
- Business
- Business Standard
SBI General Insurance Grows 2.4 Times Faster than the Industry with 21.5 Percentage Growth in Q1 FY 26
NewsVoir Mumbai (Maharashtra) [India], July 29: SBI General Insurance, one of India's leading general insurance companies, announced its financial results for Q1 FY26, posting a topline growth of 21.5%, significantly higher than the industry (Private & SAHI) growth of 6.2%, marking the Company as one of the fastest-growing general insurers in the country. The Company reported a Gross Written Premium (GWP) of INR 3250 crores, maintaining its upward momentum. Excluding the impact of 1/n accounting norm, the GWP of the Company grew by 25.6% for Q1FY26. The Company gained 78 basis points improvement in private market share, i.e. 6.19% reflecting growing customer preference and an expanding footprint across key markets. The Profit Before Tax (PBT) stood at INR 249 crores, while the loss ratio improved significantly from 86.2% to 81.7%, indicating stronger portfolio quality and disciplined underwriting. Continuing to outpace industry growth, the company reported a Profit After Tax (PAT) of INR 188 crores. The solvency ratio stood at 2.08, well above the regulatory requirement demonstrating strong financial stability. SBI General Insurance continues to lead the Personal Accident (PA) segment, maintaining its position as the No. 1 private insurer. The company gained market share in the key categories of Health by 72 bps , Motor by 47 bps and Personal Accident by 49 bps. The Health and Motor Insurance lines of business remain key growth drivers, while other segments, such as Fire, Engineering, and Liability, have also contributed significantly to the growth. This growth has been propelled by rising awareness, increased demand for comprehensive coverage, growing digital adoption, and supportive government policies. Commenting on the Company's quarterly performance, Mr. Naveen Chandra Jha, MD & CEO, SBI General Insurance, said, "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." Mr. Jitendra Attra, CFO, SBI General Insurance, added, "Our Q1 FY26 performance reflects a strong improvement across key financial metrics. Despite growing at 3.5X compared to private industry growth, our Loss ratio has shown significant improvement demonstrating disciplined underwriting, risk management, strong business portfolio and cost efficiency. The significant increase in profitability and solvency highlights our robust business fundamentals and our ability to foresee and adapt to a dynamic market environment. We will continue to focus on delivering value to all stakeholders while sustaining our growth momentum." With a clear focus on customer-centricity, innovation, and operational strength, SBI General Insurance remains well-positioned to drive responsible growth and create long-term value in the evolving insurance landscape. About SBI General Insurance SBI General Insurance, one of the fastest-growing private general insurance firms, backed by the robust support of SBI, upholds a legacy of trust and security. We position ourselves as India's most trusted general insurer amidst a dynamic landscape. Since our establishment in 2009, our expansion has been substantial, growing from 17 branches in 2011 to a nationwide presence in 146 branches. In FY 2024-25, SBI General Insurance reported a Gross Written Premium (GWP) of INR 14,140 crores, recording a YOY growth of 11.1%. The company received numerous prestigious accolades, showcasing its excellence across various domains. Key honors include being named as the Domestic General Insurer of the Year - India and Claims Initiative of the Year - India at Insurance Asia Awards 2025 Singapore, Large General Insurance category at the Mint BFSI Summit & Awards, the 3rd InsureNext Awards 2024 for Best Claims Settlement, and India's Best General Insurer of the Year at the 7th Insurance Conclave Awards. At the India Insurance Summit & Awards 2024, the company secured titles for General Insurance Company of the Year and Leading Implementer of Analytics Technology in Insurance. Additionally, it was honored as the Best BFSI Brand at the ET NOW Best BFSI Brands Conclave 2024 and included in BW BusinessWorld's India's Most Respected Companies. Certified as a Great Place to Work in 2024, the company also excelled at the ETBFSI Exceller Awards 2024 with recognition for Best Claims Management in Insurance and Best CSR Campaign of the Year, further highlighting its commitment to social responsibility and innovation. With a team of over 9,000+ employees and our multi-distribution model covering Bancassurance, Agency, OEM, Broking, Retail Direct Channels, and Digital collaborations, we are committed to providing both Suraksha and Bharosa to all our consumers. Leveraging a vast network that includes over 22000+ SBI branches, plus agents, financial alliances, OEMs, and digital partners, we extend our services to even the most remote areas of India. Our offerings cater to Retail, Corporate, SME and Rural segments, and our diverse product portfolio ensures accessibility through both digital and physical channels.
The Wire
29-07-2025
- Business
- The Wire
SBI General Insurance Grows 2.4 Times Faster than the Industry with 21.5 Percentage Growth in Q1 FY 26
Mumbai, Maharashtra, India (NewsVoir) SBI General Insurance, one of India's leading general insurance companies, announced its financial results for Q1 FY26, posting a topline growth of 21.5%, significantly higher than the industry (Private & SAHI) growth of 6.2%, marking the Company as one of the fastest-growing general insurers in the country. The Company reported a Gross Written Premium (GWP) of INR 3250 crores, maintaining its upward momentum. Excluding the impact of 1/n accounting norm, the GWP of the Company grew by 25.6% for Q1FY26. The Company gained 78 basis points improvement in private market share, i.e. 6.19% reflecting growing customer preference and an expanding footprint across key markets. The Profit Before Tax (PBT) stood at INR 249 crores, while the loss ratio improved significantly from 86.2% to 81.7%, indicating stronger portfolio quality and disciplined underwriting. Continuing to outpace industry growth, the company reported a Profit After Tax (PAT) of INR 188 crores. The solvency ratio stood at 2.08, well above the regulatory requirement demonstrating strong financial stability. SBI General Insurance continues to lead the Personal Accident (PA) segment, maintaining its position as the No. 1 private insurer. The company gained market share in the key categories of Health by 72 bps , Motor by 47 bps and Personal Accident by 49 bps. The Health and Motor Insurance lines of business remain key growth drivers, while other segments, such as Fire, Engineering, and Liability, have also contributed significantly to the growth. This growth has been propelled by rising awareness, increased demand for comprehensive coverage, growing digital adoption, and supportive government policies. Commenting on the Company's quarterly performance, Mr. Naveen Chandra Jha, MD & CEO, SBI General Insurance, said, '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.' Mr. Jitendra Attra, CFO, SBI General Insurance, added, 'Our Q1 FY26 performance reflects a strong improvement across key financial metrics. Despite growing at 3.5X compared to private industry growth, our Loss ratio has shown significant improvement demonstrating disciplined underwriting, risk management, strong business portfolio and cost efficiency. The significant increase in profitability and solvency highlights our robust business fundamentals and our ability to foresee and adapt to a dynamic market environment. We will continue to focus on delivering value to all stakeholders while sustaining our growth momentum.' With a clear focus on customer-centricity, innovation, and operational strength, SBI General Insurance remains well-positioned to drive responsible growth and create long-term value in the evolving insurance landscape. About SBI General Insurance SBI General Insurance, one of the fastest-growing private general insurance firms, backed by the robust support of SBI, upholds a legacy of trust and security. We position ourselves as India's most trusted general insurer amidst a dynamic landscape. Since our establishment in 2009, our expansion has been substantial, growing from 17 branches in 2011 to a nationwide presence in 146 branches. In FY 2024-25, SBI General Insurance reported a Gross Written Premium (GWP) of INR 14,140 crores, recording a YOY growth of 11.1%. The company received numerous prestigious accolades, showcasing its excellence across various domains. Key honors include being named as the Domestic General Insurer of the Year – India and Claims Initiative of the Year – India at Insurance Asia Awards 2025 Singapore, Large General Insurance category at the Mint BFSI Summit & Awards, the 3rd InsureNext Awards 2024 for Best Claims Settlement, and India's Best General Insurer of the Year at the 7th Insurance Conclave Awards. At the India Insurance Summit & Awards 2024, the company secured titles for General Insurance Company of the Year and Leading Implementer of Analytics Technology in Insurance. Additionally, it was honored as the Best BFSI Brand at the ET NOW Best BFSI Brands Conclave 2024 and included in BW BusinessWorld's India's Most Respected Companies. Certified as a Great Place to Work in 2024, the company also excelled at the ETBFSI Exceller Awards 2024 with recognition for Best Claims Management in Insurance and Best CSR Campaign of the Year, further highlighting its commitment to social responsibility and innovation. With a team of over 9,000 employees and our multi-distribution model covering Bancassurance, Agency, OEM, Broking, Retail Direct Channels, and Digital collaborations, we are committed to providing both Suraksha and Bharosa to all our consumers. Leveraging a vast network that includes over 22000 SBI branches, plus agents, financial alliances, OEMs, and digital partners, we extend our services to even the most remote areas of India. Our offerings cater to Retail, Corporate, SME and Rural segments, and our diverse product portfolio ensures accessibility through both digital and physical channels. (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR
Economic Times
24-07-2025
- Business
- Economic Times
SBI General Insurance posts 21.5% growth in Q1FY26, outpaces industry growth of 6.2%
SBI General Insurance outpaced industry in Q1 FY26 with ₹188 crore profit, strong growth in motor, health, and PA segments, and improved underwriting performance. Synopsis SBI General Insurance posted 21.5% YoY topline growth in Q1 FY26, outperforming the industry's 6.2%. Strong gains in motor, health, and PA segments boosted profit to ₹188 crore, with improved loss ratio and solvency showcasing financial strength. 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). ADVERTISEMENT 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 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 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. ADVERTISEMENT 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: 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. ADVERTISEMENT 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. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Fashion Value Chain
29-04-2025
- Business
- Fashion Value Chain
SBI General Insurance PAT Zooms at 112 percent YoY to Rs. 509 Crores
SBI General Insurance, one of India's leading general insurance companies, announced its financial results for FY25, marking a milestone as the company completes 15 years of operations. Continuing its robust growth trajectory, the company reported a Gross Written Premium (GWP) of INR 14,140 crores, recording a YOY growth of 11.1%. Excluding the impact of 1/n accounting norm, the GWP of the Company grew by 14.5% for FY25. Mr. Naveen Chandra Jha, MD & CEO, SBI General Insurance SBI General Insurance has grown at 70% faster than the industry growth of 6.2%. Profit After Tax (PAT) at INR 509 crores, registering a strong growth of 112% year-on-year. Additionally, the Company gained 23 basis points improvement in private market share, reinforcing its strong foothold in the industry. SBI General Insurance continued to lead the Personal Accident (PA) segment, maintaining its position as the No. 1 private insurer. Health Insurance grew at 19.2% and motor insurance at 31.2% YOY, contributing significantly to the overall growth of the company. Other segments like Marine Cargo, Engineering, and other commercial lines, also contributed meaningfully to SBI General Insurance's overall growth. In terms of financial position, the company's solvency ratio stood at 2.03, well above the regulatory requirement of 1.50, highlighting its strong financial stability. Commenting on the company's performance, Mr. Naveen Chandra Jha, MD & CEO, SBI General Insurance, said, 'At SBI General Insurance, we have been consistently growing faster than the market. In FY25, our GWP grew by 11.1%, growing significantly faster than the industry. The company has registered 2.1 times increase in PAT, underscoring our financial health. As we celebrate 15 years of excellence, our FY25 results stand as a testament to our sustained focus on customer service, growth, and profitability. Looking ahead, we are committed to building on this momentum, setting new benchmarks in providing reliable and affordable insurance solutions and reinforcing our pledge to the financial security of millions across India.' Mr. Jitendra Attra, CFO, SBI General Insurance, added, 'Our FY25 results reflect our commitment to sustainable growth and long-term value creation for our stakeholders. The company has displayed a significant improvement in the loss ratio compared to the previous financial year. This demonstrates our efforts in enhancing productivity, cost management, and operational efficiency. We will continue to focus on improving customer value while maintaining a strong financial position to support future growth.' SBI General Insurance completes 15 years of growth and success, the company remains steadfast in its mission to make insurance accessible and affordable for all. This milestone reflects its unwavering commitment to financial protection, inclusive growth, and industry leadership through innovation and a customer-first approach. About SBI General Insurance SBI General Insurance, one of the fastest-growing private general insurance firms, backed by the robust support of SBI upholds a legacy of trust and security. We position ourselves as Indias most trusted general insurer amidst a dynamic landscape. Since our establishment in 2009, our expansion has been substantial, growing from 17 branches in 2011 to a nationwide presence of over 145 branches. In FY 2024-25, SBI General Insurance achieved significant growth, with a notable 112% increase in Gross Written Premium (GWP), reaching INR 14,140 crores. The company received numerous prestigious accolades, showcasing its excellence across various domains. Key honors include being named the winner in the Large General Insurance category at the Mint BFSI Summit & Awards, the 3rd InsureNext Awards 2024 for Best Claims Settlement, and India's Best General Insurer of the Year at the 7th Insurance Conclave Awards. At the India Insurance Summit & Awards 2024, the company secured titles for General Insurance Company of the Year and Leading Implementer of Analytics Technology in Insurance. Additionally, it was honored as the Best BFSI Brand at the ET NOW Best BFSI Brands Conclave 2024 and included in BW BusinessWorld's India's Most Respected Companies. Certified as a Great Place to Work in 2024, the company also excelled at the ETBFSI Exceller Awards 2024 with recognition for Best Claims Management in Insurance and Best CSR Campaign of the Year, further highlighting its commitment to social responsibility and innovation. With a team of 7,700+ employees and our multi-distribution model covering Bancassurance, Agency, Broking, Retail Direct Channels, and Digital collaborations, we are committed to providing both Suraksha and Bharosa to all our consumers. Leveraging a vast network of over 22,518+ that includes, SBI branches, agents, financial alliances, OEMs, and digital partners, we extend our services to even the most remote areas of India. Our offerings cater to Retail, Corporate, SME and Rural segments, and our diverse product portfolio ensures accessibility through both digital and physical channels. For more details:
