Tuesday, May 30, 2023
English News
  • Hyderabad
  • Telangana
  • Andhra Pradesh
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Reviews
    • Education Today
    • Property
    • Videos
    • Lifestyle
    • Rewind
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
  • Rewind
Home | Business | Sbi General Insurance Net Profit Grows 32

SBI General insurance net profit grows 32%

Kandpal said FY21 demanded special focus on the health and SME lines, and the insurer managed to maintain a balanced growth.

By PTI
Published Date - 07:10 PM, Fri - 30 April 21
SBI General insurance net profit grows 32%
whatsapp facebook twitter telegram

Mumbai: Private non-life insurer SBI General Insurance (SBIG) Friday said its net profit grew by 32 per cent to Rs 544 crore in the fiscal ended March 3, 2021. Gross written premium (GWP) rose 22 per cent to Rs 8,312 crore in the fiscal compared to Rs 6,840 crore in the fiscal 2019-20, a release said.

“We all have gone through challenging times in the last financial year, however, I’m glad that SBIG has shown a decent growth in top line and bottom line with the support of our distribution partners and customers,” the company’s managing director and CEO P C Kandpal said. During the year, its solvency ratio stood at 2 as against 2.27 in the previous fiscal. Combined ratio was at 99.8 per cent compared to 98 per cent in fiscal 2019-20.

Kandpal said FY21 demanded special focus on the health and SME lines, and the insurer managed to maintain a balanced growth. “We are also scaling up our product bouquet and adopting digital disruptions to offer instant insurance solutions even at the distributor part, for the ease of customers,” he said. The insurer enhanced its customer base by more than three crore customers during FY21. Its cumulative number of customers served till date stands at close to 8.7 crore. The company declared and paid an interim dividend of 10 per cent during FY21.

  • Follow Us :
  • Tags
  • Net Profit
  • SBI general insurance
  • SME lines

Related News

  • Bank of India net profit rises 20 percent for December quarter sequentially

    Bank of India net profit rises 20 percent for December quarter sequentially

  • Telangana Grameena Bank net profit up 27 per cent to Rs 373.16 crore

    Telangana Grameena Bank net profit up 27 per cent to Rs 373.16 crore

  • Pennar Industries Q3 net profit up multi-fold

    Pennar Industries Q3 net profit up multi-fold

  • KIMS Q3 net up 76 per cent at Rs 84.2 crore

    KIMS Q3 net up 76 per cent at Rs 84.2 crore

  • Union Bank of India Q3 net up 49.29%

    Union Bank of India Q3 net up 49.29%

  • Canara Bank Q3 net profit up 115.8%

    Canara Bank Q3 net profit up 115.8%

Latest News

  • Cyberabad police special drive against sexual offenders

    21 mins ago
  • Fun things to do in and around Hyderabad

    24 mins ago
  • Hyderabad: Truck driver killed in road crash

    31 mins ago
  • Go skydiving indoors at Gravity Zip for an exhilarating experience 

    36 mins ago
  • Canada accepts TOEFL iBT under Student Direct Stream scheme

    46 mins ago
  • #VS11 Rags look: Vishwak Sen and Sithara Entertainments pay a tribute to legendary NTR

    48 mins ago
  • Indian Railways announces five special summer trains; check routes

    58 mins ago
  • Eat good, feel good: Healthy cafés to visit in Hyderabad

    1 hour ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam