SBI General Insurance books premium of Rs 271 crore in Q1

SBI General has planned to further expand its footprint across SBI and its associate banks

SBI General Insurance Company Limited has garnered collected total premium income of Rs 270.89 crore during the first quarter of financial year 2013-14. Further, the company saw a 107% increase in number of policies issued, from 115,676 in previous year to 239,082.

Bhaskar J Sarma, MD and CEO of SBI General said, “We have increased our presence to 40 locations and have been able to establish a strong foundation across Retail, Corporate and SME business segments as well as across various product lines like Motor, Fire, Engineering, Home Insurance and Personal Accident Insurance during the past year. Our recently launched Health Insurance product is gaining traction with customers."

SBI General has planned to further expand its footprint across State Bank of India (SBI) and its associate banks. Further, the company said that it  will also be expanding the branch network, adding another 25-30 branches in tier II and III towns this year.