SBI General Insurance’s net profit rises 32% in FY2020-21

Private sector non-life insurance company SBI General Insurance (SBIG) said its net profit rose 32 per cent to Rs 544 crore in the financial year 2020-21. Gross Written Premium (GWP) of the company increased by 22 per cent to Rs 8,312 crore from Rs 6,840 crore in the previous financial year to Rs 8,312 crore in the financial year 2020-21.

The company’s Managing Director and CEO PC Kandpal said, “We have all had challenging times in the last financial year. However, with the support of our distribution partners and customers, I am happy to say that SBIG has seen impressive growth in revenues and profits. SBIG paid an interim dividend of 10 per cent during FY21.

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