SBI General Insurance, a subsidiary of SBI, Friday reported 11.3 per cent increase in profit before tax at Rs 470 crore for the financial year ended March 2019.
The company had recorded a profit before tax of Rs 422 crore in the previous fiscal, SBI General Insurance said in a statement.
The company's underwriting profit more than doubled to Rs 79 crore from Rs 32 crore in the previous financial year.
The Gross Written Premium (GWP) also witnessed a growth of 33 per cent from Rs 4,717 crore in 2017-18 to Rs 3,553 crore at the end of March 2019.
However, the solvency ratio moderated to 2.34 against 2.54 last year.
Commenting on the numbers, SBI General Insurance MD Pushan Mahapatra highlighted that the company has recorded a healthy growth in both in topline and bottomline.
"Our focus is on becoming digital ready in the near future in order to cater to product segments in travel, health and personal accident space," he said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app