SBI General Targets 6-8% Combined Ratio Improvement, Says CEO Naveen Chandra Jha

• SBI General aims to improve its combined ratio by 6-8 percentage points over the next two financial years from its current 109%.
• The insurer plans to achieve this through sharper underwriting, stronger analytics, and continued investment in distribution.
• Growth is expected from high-potential areas like retail health and the SME segment, with health growing 41% and motor 17% in H1 FY26.
• GST changes made health insurance more affordable, boosting interest and conversions, despite a short-term 2-3% bottom-line hit from input credit disallowance.
• SBI General is focusing on balancing its product mix, with motor contributing 32% and health 23% currently, and targeting two-wheeler growth.

Why It Matters: SBI General's strategy aims for significant profitability improvement and growth.