- PAT grew by 273% to INR 504 Cr
- Growth was driven by Motor, Health, and Engineering line of Businesses
MUMBAI, India, Jan. 27, 2025 /PRNewswire/ -- SBI General Insurance, one of India's leading general insurance companies, has delivered a robust financial performance during the first nine months of FY25. The company reported a Profit After Tax (PAT) of INR 504 crore, reflecting an impressive year-on-year growth of 273%.
The company's strong performance is evident across key financial indicators. Its gross written premium (GWP) rose by 10.9%. The gross direct premium (GDP) growth of 10.5% exceeded the industry growth rate of 7.8%. SBI General's solvency ratio remains strong at 2.12 times, well above the regulatory minimum of 1.50, underscoring the company's solid financial foundation.
SBI General Insurance's impressive financial results in 9M FY25 were primarily driven by robust growth across key business segments. The Motor Insurance portfolio achieved an impressive year-on-year growth of 39%, supported by enhanced underwriting strategies and the successful expansion of digital channels for seamless policy issuance and renewals. The Health Insurance segment grew by 12% due to rising healthcare awareness, increased demand for comprehensive coverage, digital adoption, and government policies. The company's loss ratio improved significantly by ≈4% compared to 9M FY24 through better risk management, efficient claims processing, and data-driven strategies. These performance drivers underscore the company's strategic focus on innovation and customer-centric solutions. (SOURCE PTI)
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