SBI General Insurance's net profit swells 150% to Rs 4 bn in FY18

The ratio of operating expenses ratio to GWP improved from 21 % in FY17 to 18%

SBI General Insurance reported net profit growth of about 150 per cent in 2017-18 to Rs 3.96 billion. 

Underwriting profit was Rs 320 million, against a loss in this segment of almost Rs 2 billion in FY17. 

Pushan Mahapatra, managing director, added: “We have also recorded a lower loss ratio and minimised our operating expenses further.”

Gross written premium (GWP) revenue grew 36 per cent to Rs 35.5 billion. Assets under management rose to Rs 53 billion, from Rs 43.6 billion a year before. Return on equity almost doubled from 13.9 per cent in FY17 to 26.5 per cent. 

The ratio of operating expenses