SBI General Insurance surpasses the industry with 10.7% growth in H1FY26

SBI General Insurance has maintained its strong growth path, showing a robust performance in the first half of FY 26.

The company’s key performance metrics include a gross written premium (GWP) of ₹7376 crore, which registered a growth of 10.7% in H1 FY26, compared to the overall industry growth of 7.3%.  Excluding the impact of the 1/n accounting norm, the GWP of the Company grew by 13.9% for H1 FY26. The Ex-Crop business growth is 24.0% compared to private insurance growth of 8%.

Additionally, the company increased its private market share by 38 basis points from 6.45% in H1FY25 to 6.83% in H1 FY26. The growth in H1 FY26 was driven by consistent performance across key sectors, including Health, which grew by 41%, Personal Accident (PA) by 48%, and Motor by 17%. This growth was fueled by SBI General Insurance’s expanding distribution network and strengthened digital ecosystem, according to the press release.

Naveen Chandra Jha, MD & CEO of SBI General Insurance, said, “In H1 FY26, we’ve grown 1.4 times faster than the industry and three times faster than private and SAHI insurance companies (ex-crop), establishing the company as one of the fastest-growing general insurers in the country. Over the recent months, we have strengthened our distribution network, deepened partnerships, and improved digital capabilities. These initiatives have helped us scale efficiently while keeping the customer at the center."

"Leveraging the trust of our customers and the strength of the SBI ecosystem, we remain committed to making insurance simpler, more accessible, and affordable for every Indian. Our focus will continue to be on sustainable growth, operational efficiency, and creating lasting value for all stakeholders,” said Chandra.

During this period, the company posted a PAT of ₹422 crore. The Loss ratio also improved considerably to 79.6% in H1FY26 from 86.1% in H1 FY25. Additionally, it maintained a robust solvency ratio of 2.13 times, well above the regulatory requirement, highlighting its strong financial position and prudent capital management.

Jitendra Attra, CFO of SBI General Insurance, stated, “Our H1 FY26 performance reflects the strength of our growth strategy, with significant momentum across key business segments driving a 10.7% increase in Gross Written Premium. Growth across multiple lines of business demonstrates our diverse portfolio and responsiveness to evolving market needs. Our loss ratio has shown significant improvement in H1 FY26, standing at 79.6% compared to 86.1% in H1 FY25. Backed by our multi-distribution model, customer-centric approach, and investments in technology and analytics, we are well-positioned to deliver sustainable, high-quality growth and lasting value to our stakeholders.”

SBI General Insurance remains dedicated to building a future-ready organisation driven by technology, innovation, and customer trust. It continues to expand its presence and promote inclusive insurance coverage across India, as per the release.