SBI General Insurance Soars with 591% Profit Surge in H1 FY25

SBI General Insurance reported a dramatic 591% increase in net profit for the first half of FY25, reaching Rs414 crore. The company's growth outpaced the industry, with a 16.1% rise in gross written premiums. Key sectors such as Motor, Health, Engineering, and Marine Cargo significantly contributed to this success.

SBI General Insurance has announced an impressive 591% surge in net profit for the first half of fiscal year 2025, totaling Rs414 crore. This remarkable growth stands in stark contrast to the Rs60 crore profit reported during the same period last year. The company's robust performance highlights a substantial increase in its business operations.

One notable achievement is the 16.1% rise in gross written premium, more than doubling the industry average growth of 7%. The company maintains a solvency ratio of 2.26 times, significantly surpassing the regulatory requirement of 1.50 times, underscoring its financial stability. The growth was primarily driven by key sectors such as Motor, Health, Engineering, and Marine Cargo.

Naveen Chandra Jha, Managing Director and CEO of SBI General Insurance, expressed satisfaction with the strong performance, emphasizing growth across pivotal segments. Jha credits the robust distribution network, technological focus, and the powerful SBI brand for this success. Jitendra Attra, CFO, underscores the financial results as evidence of the company's commitment to long-term value creation and improved productivity.

(With inputs from agencies.)