Kumar Bahukhandi
SBI General Insurance, one of India’s leading general insurance companies, continued its growth momentum in the Q1 of FY27, carrying forward the momentum established in FY26. The Company continued to strengthen its business across key segments, supported by a diversified portfolio, disciplined execution and a strong capital position. Gross Direct Premium Income (GDPI) stood at INR 3,506 crore, registering a year-on-year growth of 10.9%, reflecting sustained business momentum in the first quarter of the financial year.
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SBI General Insurance delivers strong Q1 FY27 growth of 10.9%, becoming India’s first general insurer to release results under Ind AS
SBI General Insurance continued to build scale across its business portfolio, with strong contributions from both retail and commercial lines. During the quarter, Health grew by 49.9% and PA by 26.3%, while Engineering and Marine-Cargo grew by 95.4% and 16.8%, respectively. The broad-based performance across these segments reflects the Company’s continued focus on building scale across its retail and commercial businesses while responding to evolving protection needs of customers and enterprises.
The Company’s performance continues to be underpinned by its focus on maintaining the right balance between business expansion and financial discipline. The Comprehensive Income for SBI General Insurance stands at 573 crore while the PAT stands at 426 crore as per the Ind AS financial. SBI General Insurance reported a solvency ratio of 2.0 times and Combined Operating Ratio (COR) of 96.18% for Q1 FY27, reflecting a robust capital position and providing a strong foundation to support the Company’s growth ambitions.
The quarter also marked a significant milestone in the Company’s financial reporting journey, with SBI General Insurance becoming the first general insurer to report its financial results under the newly adopted Ind AS framework. The transition represents an important step in strengthening the Company’s financial reporting and disclosure framework and further reinforces its focus on transparency, governance and financial discipline.
Commenting on the Company’s performance, Mr. Naveen Chandra Jha, MD & CEO, SBI General Insurance, said, “We have started FY27 on a strong note with sustained growth across all key parameters. We have built solid foundations and expect this growth momentum to carry us to a strong year-end. Our GDPI stood at INR 3506 crore with comprehensive income at 573 crore in Q1FY27, reflecting our focus on balanced growth and profitability, backed by customer trust and agile execution. 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, “We’re the first adopters of the Ind AS framework among the General Insurance companies, marking another important milestone in our financial reporting journey and will further enhance transparency and comparability for our stakeholders. We’ve firmly achieved a 17.4% growth in the Comprehensive income for Q1 FY27. Our 10.9% growth in GDPI reflects sustained momentum across key business segments, while our focus remains firmly on maintaining financial discipline as we scale. With a solvency ratio of 2.0 times, we remain well positioned to pursue sustainable growth while maintaining financial strength and discipline.”
As SBI General Insurance progresses through FY27, the company remains focused on scaling with discipline, strengthening underwriting and driving operational efficiency. With a growing and diversified portfolio, robust capital position and continued investments in technology and distribution, SBI General Insurance is well positioned to sustain its momentum, deepen insurance penetration and further strengthen its position in India’s evolving general 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 182 branches. In FY 2025-26, SBI General Insurance reported a Gross Direct Premium (GDP) of INR 15,904 crores, recording a YOY growth of 14.5%.
The company received numerous prestigious accolades, showcasing its excellence across various domains. Key honors include winning the Domestic General Insurer of the Year – India and Claims Initiative of the Year – India at the Insurance Asia Awards 2025 in Singapore, Smart Insurer for the year 2025 at the ETNOW Insurance Summit & Awards 2025, India’s Leading General Insurance Company (Mid) for its outstanding performance at the 18th edition of the Dun & Bradstreet BFSI & Fintech Summit 2026 and Best General Insurance Company of the Year at 4th Edition of Future of Insurance Summit 2025.
Certified as a Great Place to Work in 2025, the company also excelled at 8th ICC Social Impact Award 2026 for its commitment to CSR Activities in Project Mission for Vision in Meghalaya, and “ET NOW Champions of CSR” at the ET Edge ET NOW Champions of CSR 2025.
With a team of 9,900+ 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 23000+ 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.
