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SBI General leverages the State Bank of India network, the widest bank distribution footprint in the country, to write property, motor, health, crop and commercial lines.
Operating in the Indian market since 2009
Registered and headquartered in Mumbai
State Bank of India subsidiary
Licensed general insurer regulated by IRDAI
SBI General leverages the State Bank of India network, the widest bank distribution footprint in the country, to write property, motor, health, crop and commercial lines. Its bancassurance reach makes it a strong option for pan-India placements.
For bank-financed assets and property programmes, SBI General's State Bank parentage and branch reach make it a natural shortlist entry, alongside group health for growing teams.
1.47% of claims decided were repudiated and 6.39% closed without payment; 97.51% of the claims paid were paid within three months of intimation. In FY2023-24 it paid 90.43% of claims decided. Ranked 12 of 24 general insurers on the share of claims paid. Source: IRDAI Handbook on Indian Insurance Statistics 2024-25, Table 53, published by IRDAI on 3 February 2026. Claim settlement ratio of every general insurer in India.
Solvency ratio 2.03 as at March 2025, against IRDAI's minimum of 1.50 (2.25 a year earlier): whether it could still pay after a very bad year. Solvency ratio of every insurer.
Market share: ₹13,890 crore of gross direct premium in FY2024-25, 4.5% of Indian general insurance, 10th of 34 insurers by size. By line: fire ₹1,535 crore (6.3% of the market); marine ₹97 crore (1.8% of the market); motor ₹4,669 crore (4.7% of the market); health with PA and travel ₹4,731 crore (3.7% of the market). Market share of every insurer.
Health insurance claims: an incurred claims ratio of 94.2% in FY2024-25 (group 90.5%, retail 112.0%), against 87.0% for all health insurers. Incurred claim ratio of every insurer.
Policy wordings: every SBI General product in IRDAI's register, with its UIN and wording PDF. SBI General policy wordings.
Insurer selection at RFS is never based on a single metric. We weigh claims behaviour on risks like yours, wording quality, engineering support and pricing before recommending a market.
Tell us about your risk and we will tell you honestly whether SBI is the right market for it, and at what terms.
Company names and logos belong to their respective owners and are shown to identify insurers RFS places business with. RFS is an independent insurance advisory firm and is not affiliated with or endorsed by any insurer. Headquarters photo: State Bank Bhavan, Mumbai — Digamber, CC0, via Wikimedia Commons.
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