The overall business also showed strong growth with the company’s gross written premium (GWP) growing at 16.1% against an industry growth of 7%.
The solvency ratio was 2.26 times higher than the minimum regulatory requirement of 1.50 times, indicating strong financial stability.
In H1 FY25, the company’s growth was primarily driven by strong performance in the motor, health, engineering and marine cargo segments.
“We are pleased with our strong performance in H1 FY25, driven by growth in key segments such as motor, health, engineering and marine cargo. This growth has been fueled by our strong distribution network, emphasis on technology and claims and the strength of the SBI brand. It highlights our commitment to deliver outstanding value to our customers while driving continuous innovation and leadership in the insurance sector. We look forward to sustaining this momentum and further strengthen our position in the industry,” said Naveen Chandra Jha, MD & CEO, SBI General Insurance.
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SBI General Insurance is a leading general insurance company in India, offering various insurance policies including health, motor, travel, home and personal accident insurance. They emphasize the theme of protection and trust in their services.
Shares of SBI General Insurance are not currently listed on the exchanges and its major shareholders include State Bank of India with 69.96% stake and Nepean Opportunities holding 16%.
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