Celebrating 15 Years of Growth: SBI General Insurance's FY25 Financial Results
SBI General Insurance Posts Year-on-Year Growth of 112%, Reaching Rs. 509 Crores
In a grand celebration of reaching 15 years in the insurance industry, SBI General Insurance, one of India's leading general insurance companies, has unveiled its financial results for FY25. Bucking the trend, the company has continued its impressive growth trajectory, posting a Gross Written Premium of INR 14,140 crores with a healthy YOY growth of 11.1%, leaving the industry and its competitors in the dust.
Excluding the impact of 1/n accounting norm, the GWP of SBI General Insurance soared by 14.5% for FY25, setting a blazing trail.
Naveen Chandra Jha: The Visionary Leader
Leading the charge is Naveen Chandra Jha, MD & CEO of SBI General Insurance, under whose guiding hand the company has grown at an astounding 70% faster than the industry average growth of 6.2%. Profit After Tax (PAT) has skyrocketed by a staggering 112% year-on-year, standing at INR 509 crores. The company also gained a remarkable 23 basis points improvement in private market share, cementing its strong presence within the industry.
Segment-wise Breakdown of Success
SBI General Insurance has maintained its top spot in the Personal Accident (PA) segment and has become the No. 1 private insurer in the market. The Health Insurance sector grew at a robust 19.2%, while the Motor Insurance segment followed closely behind at 31.2%. The company's other segments like Marine Cargo, Engineering, and other commercial lines also contributed significantly to the overall growth of SBI General Insurance.
Financial Stability and Future Outlook
With a Solvency Ratio standing at a robust 2.03, far above the regulatory requirement of 1.50, SBI General Insurance demonstrates its strong financial stability. Commenting on the company's performance, Naveen Chandra Jha said, "We've been consistently growing faster than the market. In FY25, our GWP grew by 11.1%, significantly outpacing the industry. Our financial health has grown 2.1 times, reflecting our sustained focus on customer service, growth, and profitability."
Sustainable Growth and Long-term Value Creation
Jitendra Attra, CFO of SBI General Insurance, added, "Our FY25 results show our commitment to sustainable growth and long-term value creation for our stakeholders. We've made significant improvements in the loss ratio compared to the previous financial year, highlighting our focus on enhancing productivity, cost management, and operational efficiency."
Looking ahead, SBI General Insurance remains resolute in its mission to make insurance accessible and affordable for all while reinforcing its commitment to financial protection, inclusive growth, and industry leadership through innovation and a customer-first approach.
About SBI General Insurance
Since its establishment in 2009, SBI General Insurance has grown exponentially, going from 17 branches in 2011 to a nationwide presence of over 145 branches. In FY 2024-25, the company recorded a notable 112% increase in Gross Written Premium (GWP), reaching INR 14,140 crores.
Winning numerous prestigious accolades and being hailed as India's Best General Insurer of the Year, SBI General Insurance has been recognized for its excellence across various domains. With a team of 7,700+ employees and a vast network spanning SBI branches, agents, financial alliances, OEMs, and digital partners, the company offers a diverse portfolio of products to Retail, Corporate, SME, and Rural segments through both digital and physical channels. For more details, visit: www.sbigeneral.in.
- SBI General Insurance, one of India's leading general insurance companies, posted a Gross Written Premium of INR 14,140 crores for FY25, reflecting a robust 11.1% year-on-year growth.
- MD & CEO of SBI General Insurance, Naveen Chandra Jha, has steered the company towards significant achievements, with the company's Profit After Tax surging by a staggering 112% year-on-year, standing at INR 509 crores.
- SBI General Insurance's financial success extends beyond their impressive growth figures; they have also focused on enhancing productivity, cost management, and operational efficiency, as evidenced by their improvements in the loss ratio.
- Acknowledged as India's Best General Insurer of the Year, SBI General Insurance continues to ensure financial protection, promote inclusive growth, and lead the industry through innovation and a customer-first approach.
- With a diverse portfolio of products offered across Retail, Corporate, SME, and Rural segments, SBI General Insurance's dedication to making insurance accessible and affordable is evident, setting a strong foundation for continued growth and long-term value creation.
