Page 9 - The Insurance Times August 2025

written premium (GWP) to over Rs.
10,000 crore by 2030, after closing FY SBI General Insurance Outpaces Industry with 21.5%
2024-25 at Rs. 5,547.5 crore. Manag- Q1 FY26 Growth
ing Director & CEO Anup Rau said the SBI General Insurance has begun FY 2026 on a strong footing, posting 21.5
company will pursue a 13-15 % annual % year-on-year growth in gross written premium (GWP) for the April-June
growth rate, outpacing the industry as quarter-about 2.4 times faster than the general-insurance industry's 6.2 %
it climbs the league table of India's top expansion. Management said quarterly GWP crossed Rs. 3,250 crore, re-
10 general insurers. flecting balanced momentum across retail and commercial lines.
Growth levers include the recent acqui- The insurer gained market share in all three core segments: Health (up 72
sition of Future Group's stake by Central basis points), Motor (47 bps) and Personal Accident (49 bps), retaining its
Bank of India, giving FGII access to position as the leading private player in the PA category. Health and motor
nearly 4,500 branches and deeper policies remained key growth drivers, while fire, engineering and liability
reach in Tier II and Tier III markets-ar- lines also contributed.
eas where distribution costs have tra-
SBI General credited its performance to an expanded distribution mix-par-
ditionally been high and insurance pen-
etration low. Bancassurance, now 6-7 % ticularly bancassurance partnerships, digital channels and agency recruit-
ment-plus disciplined underwriting. Looking ahead, the company aims to
of total business, is expected to reach
sustain double-digit growth by deepening penetration in tier-II and tier-III
10-12 % within five years.
cities, introducing product innovations, and leveraging analytics to improve
While health and motor lines remain pricing and claims management.
anchors, FGII will push newer seg-
ments such as pet, liability, profes-
sional-indemnity and home insurance. panding insurance access via reinsur- the general-insurance industry's 9 %
Rau believes these underpenetrated ance, aligning with India's "Insurance growth
verticals, combined with digital distri- for All 2047" vision. Organisers say the
bution and SME focus, will propel the conference will explore systemic vola- The insurer issued 15.41 lakh policies,
insurer toward its Rs. 10,000-crore tility, climate risk, digital disruption and a 20 % rise, lifting its active base to 68
lakh policies. Investment income grew
ambition. geopolitical shifts, urging attendees to 7 %, while the solvency ratio remained
craft collaborative, sustainable solu- a robust 3.35, more than double the
FAIR 2025 Conference to tions for emerging markets. regulatory minimum. SGI also acceler-
Bring 600+ Global Re/In- Prospective delegates and sponsors can ated distribution, recruiting 4,777 new
access full programme details and financial advisers in the quarter and
surers to Mumbai signup links at fairconference2025.com; taking its advisor force to 93,769, with
General Insurance Corporation of India early-bird rates apply. The Mumbai plans to scale to 2 lakh by FY30.
(GIC Re) has opened registration for gathering is expected to deepen re- Managing Director & CEO Anil
the 29th FAIR Conference, the biennial gional cooperation and reinforce the Aggarwal said the performance
flagship event of the Federation of city's status as a global reinsurance hub. underscores "growing customer trust"
Afro-Asian Insurers and Reinsurers, and positions the company to "deliver
taking place in Mumbai from 5-8 Oc- Shriram General Insurance standout results" in upcoming
tober 2025. Coinciding with FAIR's 60- quarters.
year anniversary, the 2025 edition-held Delivers Robust Q1 FY26
under the theme "Emerging Markets Results Join
- Towards Resilient Growth"-will con- Shriram General Insurance Company
vene more than 600 delegates from 52 (SGI) opened FY26 on a strong note, Online Certificate Course on
countries, including CEOs, regulators, posting net profit of Rs. 125 crore, up Artificial Intelligence
brokers and risk specialists across Asia, 9 % from Rs. 114 crore a year earlier.
Africa and other regions. Driven chiefly by its motor portfolio and in Insurance
The agenda features policy keynotes, new health products, gross written For details please visit
reinsurance-strategy panels, bilateral premium (GWP) jumped 31 % year-on- www.smartonlinecourse.co.in
meeting slots and discussions on ex- year to Rs. 960 crore, far outpacing

The Insurance Times August 2025 9