Mumbai, Aug. 28 -- SBI General Insurance continued its growth momentum in Q1 FY27, supported by a diversified portfolio, disciplined execution and a strong capital position.
Gross Direct Premium Income (GDPI) stood at Rs 3,506 crore, registering a year-on-year growth of 10.9% during the first quarter.
The insurer recorded strong growth across key retail and commercial segments. Health grew by 49.9% and PA by 26.3%, while Engineering and Marine-Cargo grew by 95.4% and 16.8%, respectively. The performance reflects the company's focus on expanding its retail and commercial businesses and addressing evolving protection needs.
Comprehensive Income stood at Rs 573 crore, while PAT was Rs 426 crore, as per Ind AS financials.
The company reported a solvency ratio of 2.0 times and Combined Operating Ratio of 96.18% for Q1 FY27, highlighting its robust capital position. The quarter also marked a key milestone as SBI General Insurance became the first general insurer to report financial results under the newly adopted Ind AS framework, strengthening financial reporting, disclosure and governance.
Published by HT Digital Content Services with permission from Millennium Post.