NewsVoir
Hyderabad (Telangana) [India], November 10: Shriram Life Insurance Company Ltd. (SLIC) reported a 17% year-on-year growth in Individual New Business Premium (NBP) in H1 FY26, rising from Rs. 542 crore in H1 FY25 to Rs. 635 crore in H1 FY26. In comparison, the private industry grew by 8% during the same period.
SLIC’s individual new business APE grew 8% year-on-year to Rs. 544 crore in H1 FY26 from Rs. 506 crore. Renewal premiums increased by 43% YoY in the first half of the fiscal. It grew to Rs. 1,024 in H1 FY26 from Rs. 715 crore in H1 FY25.
The company settled 37,850 individual and group policies in H1 FY26. It settled 30,884 policies in H1 FY25. The claim settlement ratio for FY25 stands at 98.31%. The solvency ratio for H1FY26 is 1.56.
Casparus J.H. Kromhout, MD and CEO, Shriram Life Insurance, said, “Our strategy has always been focused on making life insurance simpler and more accessible for everyone we serve. Leveraging technology to enhance the customer experience remains a top priority. Our strong growth in renewal premiums demonstrates that we have earned the trust of our customers, reflecting the effectiveness of our approach and the dedication of our teams.”
“The government’s decision to reduce GST on individual term insurance policies from 18% to zero is a landmark move that will propel the industry forward for a long period of time. This makes pure protection more affordable for millions of Indians and strengthens trust and accessibility in the insurance ecosystem for the long term,” he added.
Sequentially, SLIC reported a 53% quarter-on-quarter growth in its individual new business annualized premium equivalent (APE) growing to Rs. 329 crore in Q2FY26 from Rs. 215 crore in Q1FY26. Retail New Business Premium grew 47% quarter-on-quarter to Rs. 378 crore in Q2 FY26 from Rs. 257 crore in Q1 FY26.
Individual Renewal premiums rose by 71%, reaching Rs. 552 crore in Q2 FY26, compared to Rs. 323 crore in Q1 of FY26. Total premium grew 26%, up from Rs. 863 crore in Q1 FY26 to Rs. 1,091 crore in Q2 FY26.
The number of policies sold was up by 35% with SLIC selling 117,317 policies in Q2 FY26 as compared to 86,750 in Q1 FY26.
Jointly promoted by Shriram Group and Africa’s Sanlam Group, SLIC’s Assets Under Management as of September 2025 stood at Rs. 14,187 crore, up 15% from Rs. 12,310 crore in H1 FY25.
Shriram Life Insurance is committed to serving the underserved and unserved segments of India, focusing on families that truly need financial protection. With a network of 651 branches across the country, the company offers a range of affordable products including term, endowment, ULIPs, and annuities–tailored for rural and urban middle-class customers. With over 14.6 lakh in-force policyholders and Rs. 14,187 crore in Assets Under Management (AUM), as of September 2025, the company continues to drive financial inclusion by addressing the needs of the most deserving households. Shriram Life Insurance provides user-friendly apps for policy purchase, premium payment, claim settlement, and customer support–making insurance simple, accessible, and convenient for every customer.
Shriram Group is one of India’s leading financial conglomerates, with a strong presence in retail financing, asset reconstruction, wealth management, life insurance, general insurance, chit funds, stock broking, financial product distribution, and asset management services. The Group’s focus is on serving underserved communities, driven by its financial inclusion agenda to bring finance to low-income families and small businesses. Shriram Group serves over 3.44 crore customers, has a marketing force of more than 1.79 lakh, employs over 1.16 lakh people, and operates through more than 4,675 branches. It manages an AUM of Rs. 3.49 lakh crore as of June 2025.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages
