General insurer SBI General Insurance on Thursday announced a 10.7 percent increase in its gross written premium (GWP) to Rs 7,376 crore for the first half of FY26, outpacing the industry growth rate of 7.3 percent.
According to the company’s release, the company’s health business grew 41 percent, personal accident (PA) segment rose 48 percent, and the motor insurance portfolio expanded 17 percent.
Excluding the impact of the 1/n accounting norm, which spreads premium recognition evenly over the policy term for long-term products, GWP growth stood at 13.9 percent for the period.
SBI General also increased its share by 38 basis points to 6.83 percent, up from 6.45 percent a year earlier. The company reported a profit after tax of Rs 422 crore for the half year.
The Q2 FY26 numbers were not shared by SBI General.
The insurer attributed its growth to an expanding distribution footprint and a strengthened digital ecosystem. The Ex-Crop business (excluding crop insurance) grew 24 percent, compared to 8 percent growth reported by private insurers in the same category.
The company’s loss ratio improved to 79.6 percent in H1 FY26 from 86.1 percent in H1 FY25. Its solvency ratio remained robust at 2.13 times, well above the regulatory minimum.
“In H1 FY26, SBI General Insurance grew 1.4 times faster than the industry and three times faster than private and standalone health insurance (SAHI) companies in the ex-crop segment,” said Naveen Chandra Jha, Managing Director and CEO of SBI General Insurance.
Over the past few months, the insurer has expanded its distribution network, deepened partnerships, and enhanced digital capabilities, Jha added.
Jitendra Attra, Chief Financial Officer of SBI General Insurance, said the growth across multiple business lines underscores the company’s diverse portfolio and responsiveness to evolving market needs.
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