New Delhi, May 7, (KNN) After suffering losses in the current year State Bank of India General Insurance is now keen to focus on expanding its retail and small and medium enterprises (SME) business to achieve break-even by financial year 2015.

The general insurance company which began operation in 2010 reported a net loss of Rs 145 crore in the financial year 2013.

"We are looking at controlling our loss ratios and adopting a risk-based pricing mechanism to be sustainable," said media reports quoting SBI General Insurance, MD and CEO, Baskar J Sarma.

Over one crore saving bank account holders of SBI have availed personal accident cover provided by the general insurance company from which it had collected Rs 98 crore premium during the financial year 2012-13.

Additionally, it has launched a health insurance plan where the premium is based on the location of treatment to be availed by the policyholder. (KNN)