Shriram Life Insurance

Shriram Life Insurance Company Ltd recorded a 49 per cent rise in its retail new business for the April-December 2024 period, reaching Rs 865 crore, the company said on Thursday. Shriram Life Insurance is promoted by the diversified Shriram Group and the South Africa-based Sanlam Group. The company's premium from group business doubled during the quarter under review, reaching Rs 336 crore, according to a press release. Renewal premiums for both individual and group policies stood at Rs 494 crore for the October-December 2024 quarter, compared to Rs 447 crore in the same period of the previous financial year. Total premium income increased by 21 per cent to Rs 1,151 crore during the quarter under review, compared to Rs 841 crore in the corresponding period last year. Profit after tax for the October-December 2024 quarter stood at Rs 43 crore, compared to Rs 50 crore in the year-ago period. The new individual business premium increased by 36 per cent to Rs 322 crore during the ...

Insurance company's managing director says company expanding in rural India faster than its private competitors

The plan features flexible maturity income payout options, including tax-free payouts for up to 40 years

Company reports assets under management of Rs 12,310 cr, expects number to be around Rs 13,500 by end of FY25

Shriram Life Insurance Company (SLIC) on Friday said it has reported a net profit of Rs 50 crore during the first half of the current fiscal. During the period, the insurance company, jointly promoted by Shriram Group and South Africa's Sanlam Group, sold 2.83 lakh individual policies in the first half, nearly double what it sold during the same period a year ago. The net profit of the company came down to Rs 50 crore from Rs 70 crore in the first half of the previous fiscal due to capacity expansion undertaken, Shriram Life Insurance Company MD and CEO Casparus JH Kromhout said. Branch expansion, fresh recruitment and investment in technology are being undertaken to expand business, he said. Presently, 50 per cent of the business comes from southern states, while remaining from other states. The company has plans to expand its footprint in other states, he said. Sharing other financial details, Kromhout said assets under management as of H1 FY25 was Rs 12,310 crore, up 21 per ce

He talks about its growth roadmap, industry outlook, and the need to remove GST on life insurance in achieving insurance for all by 2047

Shriram Life Insurance Company Ltd has reported a profit after tax of Rs 27 crore for the April-June 2024 quarter, the company said. Shriram Life Insurance Company jointly promoted by the diversified conglomerate the Shriram Group and South Africa-based Sanlam Group has breached the Rs 10,000 crore mark in the total Assets Under Management (AUM) to register Rs 11,841 crore during the quarter under review. The company had registered Assets Under Management of Rs 9,688 crore during the corresponding quarter of last year. In a statement on Tuesday, the company said the income from retail new business premium grew by 57 per cent year-on-year to Rs 212 crore while retail annual premium equivalent (APE) for the quarter grew to Rs 198 crore as compared to Rs 124 crore recorded during the corresponding quarter of last year. Shriram Life Insurance Company sold 1.27 lakh individual policies in the April-June 2024 quarter, up by 131 per cent over the corresponding quarter of last year by sell

Shriram Life Insurance has declared a bonus of Rs 201 crore for the financial year ending March 31, 2024 following the robust growth in premium income. The bonus payout would benefit 3.86 lakh policy holders of Shriram Life Insurance. Shriram Life Insurance declared Rs 201 crore bonus, up by 35 per cent from Rs 149 crore in the corresponding period of last year on the back of "robust growth in premium income which was driven by diversification of sales during FY'24," a company statement said here on Tuesday. "Our surge in new business premium in FY'24 was led by a combination of factors which includes new partners, technology upgrades and focused sales," said company Managing Director and CEO Casparus J H Kromhout said. "We believe this growth must be shared with our customers, who are the fulcrum of our growth story," he said. As of March 31, 2024, Shriram Life sold around 4,46,730 policies compared to 2,90,156 policies in the year ago period. The company's Asset Under Management

Total business premium for the year ending March 31, 2024 grew by 62 per cent to Rs 1,871 crore

Sanlam has already entered into a share purchase deal to buy 6.29 per cent in SGIC and 7.04 per cent in SLIC from TPG India Investments

Sanlam has already entered into a share purchase deal to buy 6.29 per cent in SGIC and 7.04 per cent in SLIC from TPG India Investments

In life insurance, it is about creating distribution capacity and solutions for customers. We are constantly working on that Casparus JH Kromhout, managing director and chief executive officer said

The insurer reported individual new business premium income of Rs 237 cr for its third quarter, raising its total premium income to Rs 842 cr in Q3FY24

The rural population in India is around 65-70 percent. It is much more difficult to reach rural customers, said Kromhout

Shriram Life Insurance Ltd has reported a profit after tax for the three months ended September 30, 2023, at Rs 31.1 crore, the company said on Friday. The company, jointly promoted by Sriram Group and South Africa-based financial services group Sanlam Ltd had reported a profit after tax at Rs 35.6 crore during the corresponding quarter of last year. For the six-month period ended September 30, 2023, the profit after tax stood at Rs 70.4 crore as against Rs 75.1 crore registered in the same period of last year, a press release said on Friday. The company as of September 30, 2023, has assets under management of Rs 10,146 crore as compared to Rs 8,149 crore registered during the same period of last year. Gross premium as of September 30, 2023, stood at Rs 1,462 crore, as compared to Rs 970 crore registered during the same period of last year. Commenting on the financial performance, company MD and CEO Casparus J H Kromhout said, "With every quarter, we are intensifying our focus on

Shriram Life Insurance announced an 88 per cent increase in new business premium for retail and group policies in H1FY24 at Rs 860 crore compared to the year-ago period

Despite a slight drop in profits, the company sees an 82% surge in total premium earned compared to the previous year

The mid and small caps look a bit heated up from a near-term perspective. The earning yields of mid and small-cap stocks on a trailing 12-month basis are higher than that of largecaps

Shriram Life Insurance Company, promoted by Shriram Group and South Africa-based financial services firm Sanlam Ltd, has declared its highest ever bonus of Rs 149 crore, the company said on Friday. The bonus saw an increase of 25 per cent over the previous year and will benefit 3.29 lakh individuals. "The increase in bonus reflects SLIC's commitment to serve customers and to help them achieve their financial goals and security. This further reflects our strong fundamentals and products," company MD and CEO Casparus J Kromhout said. The bonus came in the backdrop of record profits and growth in its individual non-single premiums. In FY23, the company had sold 2.90 lakh policies. "Considering the uniqueness of the rural customer segment that we predominantly operate in, this bonus declaration would have a positive impact on rural families," he said in a statement. For the year ending March 31, 2023 the company's assets under management exceeded Rs 9,000 crore with an increase of 17

Shriram Life Insurance Company, a part of the Shriram Group, on Wednesday said it has unveiled a new unit-linked policy that offers financial control with multiple fund options and investment strategies. Policy holders can opt to cover either whole life or a specific period of time enabling them to fulfil their financial aspirations with full flexibility, the company said. The scheme, which has been launched commemorating the golden jubilee year of the Shriram Group, has two options -- Life Goal and Legacy -- providing customers options to alter policy term, premium payment term, sum assured and premium. Life Goal offers cover for a specified period while Legacy offers cover till the age of 100. Commenting on the launch of the product, Shriram Life Insurance MD and CEO Casparus Kromhout said: "We are delighted to announce this plan on our Group's momentous milestone. The plan gives various flexibilities and options to choose from, provides financial protection and encourages long-t