SBI General Insurance exhibits a 2.4-fold industry growth in Q1 FY 26, registering a significant 21.5% expansion rate.
In the first quarter of the financial year 2026 (FY26), SBI General Insurance has made a significant mark in the Indian general insurance sector. The company's performance for Q1 FY26 has been impressive, with a robust growth of 21.5%, outperforming the industry growth of 6.2%.
The company's Gross Written Premium (GWP) stood at INR 3,250 crores, marking a 25.6% year-on-year (YoY) increase after accounting adjustments. This growth can be attributed to strong gains in the motor, health, and personal accident (PA) segments.
SBI General Insurance's loss ratio improved significantly from 86.2% to 81.7%, indicating disciplined underwriting, risk management, and cost efficiency. This improvement in the loss ratio signifies a stronger portfolio quality and a more disciplined approach to underwriting and claims management.
The company's profitability and solvency also increased significantly in Q1 FY26, highlighting robust business fundamentals. The Profit Before Tax (PBT) stood at INR 249 crores, and the Profit After Tax (PAT) was INR 188 crores. The solvency ratio remained strong at 2.08, demonstrating financial stability and sound risk management.
Mr. Naveen Chandra Jha, MD & CEO of SBI General Insurance, commented on the company's performance, stating, "We are delighted to see our efforts bearing fruit. Our focus on delivering value to all stakeholders and sustaining growth momentum is evident in our Q1 FY26 results."
SBI General Insurance's services extend to even the most remote areas of India, leveraging a vast network that includes over 22,000 SBI branches, agents, financial alliances, OEMs, and digital partners. The company employs over 9,000+ employees and offers services through Bancassurance, Agency, OEM, Broking, Retail Direct Channels, and Digital collaborations.
In the fiscal year 2024-25, SBI General Insurance reported a GWP of INR 14,140 crores, recording a year-on-year growth of 11.1%. The company also gained 78 basis points improvement in private market share, currently at 6.19%.
SBI General Insurance leads the Personal Accident (PA) segment as the No. 1 private insurer. The Health and Motor Insurance lines of business are key growth drivers for the company.
The company's success is not limited to financial growth. SBI General Insurance has also received numerous prestigious accolades, including Domestic General Insurer of the Year - India and Claims Initiative of the Year - India at the Insurance Asia Awards 2025 Singapore.
In summary, the robust growth in Q1 FY26 is driven by strong premium growth in key segments, improved loss ratio, increased private market share and revenue, and financial strength shown by healthy solvency ratios. These factors collectively positioned SBI General Insurance as one of the fastest-growing general insurers in India for Q1 FY26.
[1] Source: SBI General Insurance Press Release, Q1 FY26 Results, [Date]
- SBI General Insurance's impressive Q1 FY26 performance indicates potential for growth in the events sector, as they demonstrate innovation and business acumen.
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- SBI General Insurance's active presence in social media platforms can help increase their brand awareness, engage with customers, and drive increased business in the Insurance and lifestyle industries.
- The entertainment sector might find partnership opportunities with SBI General Insurance, as they continue to expand their operations and explore new business ventures.
