Shriram Life Insurance Sees Robust Growth: A Testament to Trust and Innovation

Shriram Life Insurance Company Ltd. reports strong growth with a 17% rise in new business premiums in H1 FY26. CEO Casparus Kromhout highlights the impact of technological enhancements and GST reforms in boosting insurance accessibility and trust. Assets under management grew 15%, underscoring commitment to underserved segments.

Hyderabad, (Telangana) [India], November 10: Shriram Life Insurance Company Ltd. (SLIC) has set a new benchmark in the insurance sector by reporting a 17% year-on-year increase in Individual New Business Premium (NBP) for the first half of fiscal year 2026. The premium rose to Rs. 635 crore from Rs. 542 crore in the same period last year, significantly outpacing the private industry's growth of 8%.

The company's focus on customer-centric strategies has resulted in an 8% increase in the individual new business annual premium equivalent (APE), amounting to Rs. 544 crore. Renewal premiums witnessed a robust 43% rise, reaching Rs. 1,024 crore. Notably, SLIC processed 37,850 individual and group policies, with an impressive 98.31% claim settlement ratio. The solvency ratio for H1 FY26 stands at 1.56, affirming the company's financial stability.

Shriram Life's MD and CEO, Casparus J.H. Kromhout, emphasized the company's dedication to simplifying insurance through technological advancements. The recent reduction in GST on term insurance policies from 18% to zero is seen as a pivotal move that will enhance affordability and accessibility. SLIC continues to expand its reach, selling 117,317 policies in Q2 FY26, a 35% increase from the previous quarter, and growing its assets under management to Rs. 14,187 crore as of September 2025.

(With inputs from agencies.)