SBI General Insurance — Financial Performance
SBI General Insurance's combined ratio was 111.5% for Q1 FY26-27, as reported in IRDAI form NL-20-ANALYTICAL-RATIOS.
Quarterly financial ratios — Q1 FY25-26 to Q1 FY26-27
| Metric | Q1 FY26-27 | Q4 FY25-26 | Q3 FY25-26 | Q2 FY25-26 | Q1 FY25-26 |
|---|---|---|---|---|---|
| incurred claims ratio | 79.2%−2.5 pts | 77.7% | 80.7% | 77.8% | 81.7% |
| net commission ratio | 15.6%+2.5 pts | 16.2% | 14.7% | 12.3% | 13.1% |
| expense ratio to gross premium | 28.6%+0.9 pts | 23.7% | 30.1% | 25.4% | 27.7% |
| combined ratio | 111.5%+0.3 pts | 105.6% | 113.8% | 107.0% | 111.2% |
| solvency ratio | 2.00× | 1.90×−0.13× | 2.12×+0.00× | 2.13×−0.13× | Not disclosed |
| profit before tax | ₹222 crore−10.7% | ₹31 crore | ₹126 crore | ₹313 crore | ₹249 crore |
| profit after tax | ₹166 crore−11.4% | ₹30 crore | ₹101 crore | ₹234 crore | ₹188 crore |
The small figure under each number is the change from the same quarter a year earlier — in percentage points for ratios, as a percentage change for profit before/after tax. Shown only where this insurer has a filing from exactly that quarter a year ago; no figure means that comparison isn't available, not that nothing changed.
Expense ratio shown on a gross-direct-premium basis (GDP), per IRDAI's 2021 reform — not directly comparable to an insurer's net-written-premium (NWP) basis figure if quoted elsewhere. "Not disclosed" means this insurer's filing for that quarter didn't include this figure — not an estimate.
Full-year financial ratios
These are the insurer's own full-year figures, as filed with IRDAI for the whole fiscal year — not the same as adding up four quarters, since each quarter's own number above is a standalone snapshot for that quarter alone.
| Metric | FY25-26 |
|---|---|
| incurred claims ratio | 78.3% |
| net commission ratio | 15.3% |
| expense ratio to gross premium | 27.2% |
| combined ratio | 109.9% |
Provenance (combined ratio, latest quarter)
- Reported by
- SBI General Insurance
- Regulatory form
- NL-20-ANALYTICAL-RATIOS · what this form contains
- Reporting period
- Q1 FY26-27
- Source document
- 2026-06-30_NL-1-20.pdf · SBI General Insurance's disclosure page
- Extracted by
- nonlife_adapter.py v1
- Last verified
- 2026-09-10
- Note
- NL-20 row-format label match: combined_ratio