Shriram Life Insurance Sees 20.2 Percent Rise in Total Premium
Due to steady and consistent growth in all important sectors, Shriram Life Insurance Company Ltd. saw a 20.2 percent increase in its total premium to Rs 4,216 crore for the fiscal year that ended on March 31, 2025.
In the most recent fiscal year, the corporation generated a total premium of Rs 3,508 crore.
Compared to the Rs 11,282 crore recorded in FY2024, the total assets under management for the year ended March 31, 2025, increased to Rs 13,207 crore.
Compared to the Rs 887 crore recorded in the previous fiscal year, the individual new business APE (Annualised Premium Equivalent) increased by 45.3 percent to Rs 1,289 crore for the fiscal year that ended on March 31, 2025.
“Shriram Life Insurance has moved into a high-growth orbit, and we are seeing continuous and sustainable momentum across all key areas”, Shriram Life Insurance MD and CEO Casparus J H Kromhout says.
“The visibility for long-term growth is strong, supported by our unwavering commitment to serving the needs of our customers”, adds Casparus.
According to Shriram Life Insurance, the company's increase in new business exceeded the industry's 15 percent growth.
Annualized Premium Equivalent for individual new businesses increased by 40.5 percent to Rs 482 crore from Rs 343 crore in the same quarter of the previous fiscal 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 adds.
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The corporation resolved 61,600 claims in both individual and group insurance during the fiscal year that ended on March 31, 2025, as opposed to 58,800 claims during the previous fiscal year.