SBI GI PAT zooms 112% to Rs 509 Cr

Mumbai: SBI General Insurance, one of India’s leading general insurance companies, on Wednesday 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 Rs14,140 crore, recording a YoY growth of 11.1 per cent. Excluding the impact of 1/n accounting norm, the GWP of the Company grew by 14.5 per cent for FY25.

SBI General Insurance has grown at 70 per cent faster than the industry growth of 6.2 per cent. Profit After Tax (PAT) at Rs509 crore, registering a strong growth of 112 per cent 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 per cent and motor insurance at 31.2 per cent 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, 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 per cent, 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.”