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SBI General posts 11% rise in profit in FY19
Highlights
SBI General Insurance, a subsidiary of SBI on Friday reported 11.3 per cent increase in profit before tax at Rs 470 crore for the financial year ended March 2019.
New Delhi: SBI General Insurance, a subsidiary of SBI on 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.
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