SBI General Insurance Posts Strong Q1 Growth

SBI General Insurance has started FY27 on a strong note, reporting a 10.9% year-on-year increase in Gross Direct Premium Income (GDPI) to Rs 3,506 crore in the first quarter. The company attributed the performance to growth across its retail and commercial insurance businesses, supported by a diversified portfolio and disciplined operations. Health insurance recorded 49.9% growth, while Personal Accident insurance grew 26.3%.

The company also reported strong performance in commercial segments, with engineering insurance growing 95.4% and marine-cargo insurance increasing 16.8%. During the quarter, SBI General recorded comprehensive income of Rs 573 crore and profit after tax of Rs 426 crore. Its solvency ratio stood at 2.0 times, while the combined operating ratio was 96.18%. The company also became the first general insurance firm to report financial results under the new Ind AS framework.