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THE INSURANCE TIMES
|June 2026
Global investors are showing renewed interest in India's non-life insurance sector following the government's decision to allow 100% foreign direct investment in insurance businesses.
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SBI General Insurance FY26 profit rises 9%
SBI General Insurance reported an 8.6% rise in net profit to Rs. 553 crore for FY26, compared to Rs. 509 crore in the previous financial year.
The insurer recorded gross direct premium income of Rs. 15,904 crore, reflecting growth of 14.5% during the year. The company also reported improvement in underwriting performance, with its loss ratio declining to 78.3% from 82.4% in FY25.
SBI General said its solvency ratio stood at 1.90 times, remaining comfortably above the regulatory requirement and indicating a strong capital position.
The performance reflects continued growth in the non-life insurance segment amid expanding retail and corporate insurance demand.
Thomas Cook launches visa rejection insurance cover
Thomas Cook India and SOTC Travel have introduced an insurance product offering protection against financial losses arising from visa rejections.
The cover compensates travellers for non-refundable advance payments related to travel and accommodation if a visa application is rejected. The insurance product, underwritten by ICICI Lombard General Insurance, excludes immigrant and employment visa categories.
The facility will be available for group tours, MICE travel and corporate travel customers. Industry executives said the move addresses long-standing concerns among travellers regarding losses due to visa denials and increasing uncertainty in international travel documentation approvals.
India expands approval for Russian marine insurers
India has expanded the list of Russian insurers permitted to provide insurance cover for vessels calling at Indian ports as disruptions in the Strait of Hormuz impact global shipping and energy trade.
The Directorate General of Shipping has increased the number of approved Russian insurers from eight to eleven.
This story is from the June 2026 edition of THE INSURANCE TIMES.
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