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SBI General targets 60% growth in premium in FY15

The non-life insurer had a gross written premium of Rs 770.85 crore in FY13, and has registered around 55% rise in premium of around Rs 1,200 crore in FY14

April 10, 2014 3:03 IST | India Infoline News Service
SBI General Insurance has set a target of 60% in its premium growth in the financial year 2014-15, according to a media report.
The non-life insurer had a gross written premium of Rs 770.85 crore in FY13, and has registered around 55% rise in premium of around Rs 1,200 crore in FY14.
The company's motor insurer segment reported around Rs. 465 crore of the total premium, fire contributed to around Rs 412 crore with rest coming from health and other segments in FY14.
SBI General has filed some products in health insurance segment with IRDA and is waiting for the regulator's approval.
SBI General would focus more on the other channels like brokers. At present, the insurer draws around 60% of its business from the banking channel.




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