SBI General Insurance reported on Wednesday a jump of more than twice in his net gain to ₹ 509 million rupees for the last prosecutor, backed by about 11 percent of an year -on -year increase in its gross schedule in the period.
The net gain of the general insurer of the private sector was ₹ 240 million rupees for financial year 2023-24. Duration for fiscal year 2015, its brutal written cousin (GWP) grew by 11.1 percent year -on -year to ₹ 14,140 million rupees of ₹ 12,731 million rupees in fiscal year 2014.
In a statement, the company said, excluding the impact of the 1/N accounting standard, the GWP witnessed a growth or 14.5 percent for fiscal year 2015.
“In addition, the company obtained 23 basic points improvements in participation in the private market, reinforcing its strong support point in the industry. SBI General Insurance continued to lead the personal accident segment (PA), maintaining its position like No. TI,” he said.
Health coverage increases
The company’s health insurance segment grew to 19.2 percent year -on -year and the car insurance segment recorded growth or 31.2 percent year -on -year, contributing significantly to the general growth of the company in the fiscal year 2015. Other segments such as marine load, engineering and other commercial lines, also contributed “significantly” to the general growth of the general insurance company.
The company’s solvency index was 2.03 for the last financial year, well above the regulatory requirement of 1.50.
When commenting on the company’s performance, Naveen Chandra JHA, MD & CEO, said: “In SBI General Insurance, we have been growing constantly faster than the market. In the 2015 fiscal year, our GWP grew by 11.1 percent, growing significantly faster than the industry. The company has registered 2.1 times the increase in PAT, which less well informing our financial health.
Jitendra Attra, CFO, Said, “Our Fy25 Results Reflect Our Commitable to Sustainable Growth and Long-Term Value Creation for Our Stakeholders. The Company you have displayed a significant improvment in the loss ratio compared to ORAST ON HEMONS ENHEMANS AND THE PROVES AND THE Loss-Ratiosthe Oears and Finas and the Predstrous and Finns in Finns and the Predestrous and Finns Productivity EMSOUED and FINDHOUS, COST MANAGEMENT AND OPERATIVE EFFICIENCY.
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Posted on April 23, 2025