SBI General Insurance's Profit Surge and Strong Financial Growth

SBI General Insurance announced a significant increase in net profit, reporting Rs 509 crore for the 2024-25 financial year. This growth is more than double the Rs 240 crore from the previous year. The company's gross written premium (GWP) also rose to Rs 14,140 crore, indicating an 11% increase.

SBI General Insurance, a non-life subsidiary of the State Bank of India, has reported a remarkable surge in its net profit to Rs 509 crore for the 2024-25 financial year, more than doubling from Rs 240 crore the previous year.

The company's robust performance is also reflected in its gross written premium (GWP), which soared to Rs 14,140 crore, showing an impressive 11% growth from Rs 12,731 crore the prior year.

Moreover, SBI General Insurance maintained a solid solvency ratio of 2.03, comfortably exceeding the regulatory minimum of 1.50, underscoring its financial stability.

(With inputs from agencies.)