SBI General Insurance Financials & Annual Report

Particulars

As at 31 March 2023

As at 31 March 2022

ASSETS                        

 Investments - Shareholders 

                                  2,643.39

                                  2,498.26

 Investments - Policyholders 

                                10,451.62

                                  8,420.83

 Loans 

 Fixed Assets 

                                     256.85

                                     225.90

 Deferred tax asset 

                                       21.67

                                       16.18

 Total  

                             13,373.52

                             11,161.16

 Current Assets 

 Cash and Bank Balances 

                                     135.23

                                     157.58

 Advances and Other Assets 

                                  1,771.16

                                  1,402.17

 Total  

                               1,906.39

                               1,559.74

 Total Assets 

                             15,279.91

                             12,720.91

 EQUITY AND LIABILITIES 

 EQUITY 

 Share Capital 

                                     215.65

                                     215.62

 Reserves and Surplus 

                                  2,844.15

                                  2,658.27

 Fair Value Change Account - Shareholders 

                                       13.31

                                       98.71

 Fair Value Change Account - Policyholders 

                                         0.09

 Total Equity 

                               3,073.10

                               2,972.70

 LIABILITIES 

 Current liabilities 

 Current Liabilities 

                                  8,133.93

                                  6,595.32

 Provisions 

                                  4,072.88

                                  3,152.89

 Total 

                             12,206.81

                               9,748.21

 Total liabilities 

                             12,206.81

                               9,748.21

 Total Equity and liabilities 

                             15,279.91

                             12,720.91

 Contingent Liabilities  

                                     208.32

                                     165.49

 PARTICULARS 

2023

2022

 1.        OPERATING PROFIT/(LOSS) 

 (a)    Fire Insurance 

304.78

306.01

 (b) Marine Insurance 

-41.25

-27.30

 (c) Miscellaneous Insurance 

-127.73

-353.47

 2.       INCOME FROM INVESTMENTS 

 (a)  Interest, Dividend & Rent – Gross 

129.51

122.75

 (b) Profit on sale of investments 

118.98

171.77

 Less: Loss on sale of investments 

-43.11

-23.47

 3. OTHER INCOME 

  - Miscellaneous Income 

4.11

0.22

 - Profit & Loss on Sale of Assets 

0.08

0.73

 - Recovery of Bad Debts Written Off 

9.18

11.36

 Total (A) 

354.56

208.61

 4.       PROVISIONS (Other  than  taxation) 

 (a)    For diminution in the value of investments 

-3.75

5.84

 (b) For doubtful debts 

23.63

0.00

 5.       OTHER EXPENSES 

 (a)    Expenses other than those related to Insurance Business 

0.00

0.00

 (b) Bad debts written off 

0.00

0.00

 (c) OthersPenalty 

0.00

0.30

 CSR Expenditure 

9.59

16.30

 Director 's Fees 

0.65

0.60

 Others 

1.86

2.32

 Contribution to Policyholders Funds towards Excess EoM 

78.25

5.27

 Total (B) 

110.23

30.63

 Profit/(Loss) Before Tax Provision for Taxation 

244.33

177.98

 (a) Current Tax/ Minimum Alternate Tax 

66.06

42.98

 (b) Deferred tax (Income)/ Expense 

-5.49

0.58

 (c) Short/ (Excess) provision of earlier years 

-0.47

3.18

 Profit/(Loss) after tax 

184.23

131.23

 Appropriations 

 (a)    Interim dividends paid during the period 

0.00

0.00

 (b)    Proposed final dividend 

0.00

0.00

 (c)    Dividend distribution tax 

0.00

0.00

 (d)    Transfer to any Reserves or other Accounts Balance of profit/ (loss) brought forward 

-1319.26

-1188.03

 Balance carried forward to Balance Sheet 

1503.49

1319.26

 Basic Earnings per share (Not Annualised) 

8.54

6.09

 Diluted Earnings per share (Not Annualised) 

8.46

6.03

 Particulars 

  31st March 2023 

  31 March 2022  

 Cash flows from operating activities 

 Premium received from policyholder incl advance receipt 

                                12,022.19

                                10,326.09

 Other receipts 

                                       14.51

                                       12.88

 Payment to the re-insurers, net of commission and claims 

                                -2,521.28

                                -1,963.05

 Payment to co-insurers, net of claims recovery 

                                     311.99

                                     304.44

 Payment of claims 

                                -5,382.14

                                -5,782.67

 Payment of commission and brokerage 

                                   -936.84

                                   -759.39

 Payments of other operating expenses 

                                -1,591.24

                                -1,344.49

 Preliminary and pre-operative expenses 

 – 

 – 

 Deposits, advances and staff loans 

                                     -11.14

                                       -1.11

 Income taxes paid (Net) 

                                     -26.85

                                     -95.79

 Service tax / GST (Net) 

                                   -367.53

                                   -327.79

 Director sitting fees 

                                       -0.65

                                       -0.60

 Retirement benefits 

                                     -12.91

                                     -10.85

 Cash flow before extraordinary items 

                                  1,498.10

                                     357.69

 Cash flow from extraordinary items 

 – 

 – 

 Net cash flow from operating activities 

                                  1,498.10

                                     357.69

 Cash flows from investing activities 

 Purchase of Fixed Assets 

                                     -89.09

                                     -89.46

 Proceeds from Sale of Fixed assets 

                                         0.31

                                         0.92

 Purchase of Investments 

                                -8,646.20

                              -11,719.90

 Loans Disbursed 

 – 

 – 

 Sale of Investments 

                                  6,554.22

                                10,736.14

 Repayments received 

 – 

 – 

 Rent / Interest / Dividend received on Investment 

                                     725.18

                                     580.06

 Investment in moneymarket and liquid fund instruments 

                                       92.90

                                   -498.98

 Expenses related to Investments 

                                       -1.11

                                       -0.87

 Investments in Fixed deposits (Net) 

                                         2.97

 – 

 Net cash flow from investing activities 

                                -1,360.82

                                   -992.08

 Cash flows from financing activities 

 Proceed from issuance of share capital (net of share issue expenses) 

                                         1.68

                                         6.52

 Proceeds from borrowing 

 – 

 – 

 Repayments from borrowings 

 – 

 – 

 Interest / Dividend paid (including Dividend Distribution Tax) 

 – 

 – 

 Net cash flow from financing activities 

                                         1.68

                                         6.52

 Effect of foreign exchange rates on cash and cash equivalents, net 

 – 

 – 

 Net increase in cash and cash equivalents 

                                     138.96

                                   -627.87

 Cash and cash equivalent at beginning of the year 

                                     481.00

                                  1,108.87

 Cash and cash equivalent at end of the year 

                                     619.96

                                     481.00

 Book overdraft at the end of the year 

 – 

 – 

 Net increase in cash and cash equivalents 

                                     138.96

                                   -627.87

 Particulars 

2023

2022

 Net Retention ratio (%) 

52.77%

47.52%

 Net Commission ratio  (%) 

1.07%

-2.47%

 Expenses of Management to Gross  Direct Premium ratio (%) 

21.35%

21.58%

 Net incurred Claims to Net Earned Premium (%) 

78.73%

86.31%

 Combined ratio (%) 

106.73%

113.70%

 Operating profit ratio (%) 

2.78%

-1.75%

 Net Earnings ratio (%) 

3.21%

2.98%

 Return on Net worth (%) 

6.02%

4.57%

 Solvency Margin (Times) 

                     1.72

                     1.85

 Particulars 

2023

2022

 Dividend per share 

                        -  

                        -  

 Retained Earnings (In Rs. Crores) 

                                  2,844.15

                                  2,658.27