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Business Standard
06-08-2025
- Business
- Business Standard
Shriram Life Q1 individual new business premium rises 21% on wider reach
Shriram Life Insurance Company Ltd reported a 21 per cent year-on-year growth in individual new business premium (NBP) in the first quarter of fiscal 2026, driven by a broader distribution footprint, higher average ticket size, and branch expansion, the company said in a statement on Wednesday. The NBP rose from ₹212 crore in Q1FY25 to ₹257 crore in Q1FY26. For Q1FY26, the average ticket size — the average premium amount per policy sold — for individual policies stood at ₹24,799, compared with ₹15,192 in Q1FY25. In comparison, the average ticket size for the private industry in Q1FY26 was ₹87,373. Casparus J.H. Kromhout, managing director and chief executive officer, Shriram Life Insurance, said: 'Shriram Life Insurance is guided by a clear vision — to deepen its presence in rural and semi-urban markets and reach every corner of the country. Our strategy is focused on making life insurance simpler and more accessible for everybody we serve.' Renewal premium across the individual business rose 25 per cent year-on-year to ₹323 crore in Q1FY26 from ₹259 crore in Q1FY25. Total premium for Q1FY26 increased 27 per cent year-on-year to ₹863 crore from ₹679 crore. SLIC's assets under management (AUM) grew 17 per cent to ₹13,799 crore in Q1FY26 from ₹11,841 crore in Q1FY25. The company sold 86,750 policies in Q1FY26. The solvency ratio for the quarter stood at 1.75. During the first quarter of FY26, the company settled 18,023 claims in both individual and group policies, compared with 15,924 claims in the same period last fiscal. In FY25, the company settled 98.31 per cent of individual claims, with 93 per cent of all non-investigated claims settled within 12 hours of receiving the last document. SLIC has been deepening strategic partnerships to broaden its reach into the remotest corners of the country, reinforcing its commitment to financial inclusion. 'We believe protection should not be a privilege, but a basic financial right for every Indian household — no matter where they live or what they earn. That's why these partnerships matter,' said Kromhout. With a network of 537 branches across the country, the company offers a range of affordable products including term, endowment, unit-linked insurance plans (ULIPs), and annuities tailored for rural and urban middle-class customers.
Time of India
20-05-2025
- Business
- Time of India
Shriram Life Insurance records 20.2% rise in total premium in FY2025
Shriram Life Insurance Company Ltd has recorded a 20.2 per cent rise in its total premium to Rs 4,216 crore for the financial year ending March 31, 2025, on the back of continuous and sustainable momentum across all key areas, a top official said. The company had recorded a total premium of Rs 3,508 crore in the last financial year. The total Assets Under Management for the year ending March 31, 2025, grew to Rs 13,207 crore, as compared to Rs 11,282 crore registered in FY2024. The individual new business APE ( Annualised Premium Equivalent ) surged by 45.3 per cent to Rs 1,289 crore for the financial year ending March 31, 2025, as compared to Rs 887 crore registered in the previous financial year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Secure Your Child's Future with Strong English Fluency Planet Spark Learn More Undo The growth in the individual new business outpaced the industry's 15 per cent growth, Shriram Life Insurance said in a company statement on Tuesday. "Shriram Life Insurance has moved into a high-growth orbit, and we are seeing continuous and sustainable momentum across all key areas. The visibility for long-term growth is strong, supported by our unwavering commitment to serving the needs of our customers," Shriram Life Insurance MD and CEO Casparus J H Kromhout said. Live Events For the quarter ending March 31, 2025, the company's new business premium grew to Rs 507 crore up by 42 per cent from Rs 357 crore registered in the corresponding quarter of last financial year. The individual new business Annualised Premium Equivalent grew by 40.5 per cent to Rs 482 crore, from Rs 343 crore registered in the same quarter of last financial year. "We are not just expanding in numbers, but also in relevance -- reaching families from the segments of the society that have traditionally been left out of the insurance fold. As we scale further, we remain committed to inclusive growth and long-term value creation," he said. During the financial year ending March 31, 2025, the company settled 61,600 claims in both individual and group policies compared to 58,800 claims made in the last financial year, the statement added.
