Shriram General Insurance Outpaces Industry Growth with Strategic Expansion

Shriram General Insurance Company posted significant growth in Q3 FY26, outperforming industry averages with a 19% increase in Gross Direct Premium. SGI's motor book led this growth, with a noteworthy 24% YoY cumulative GDP increase and a 26% rise in net profit. The company's strategic phygital distribution expansion and product diversification are key drivers.

Shriram General Insurance Company (SGI) reported robust financial results for Q3 FY26, achieving a 19% year-on-year (YoY) growth in Gross Direct Premium (GDP) to ₹1,258 crore, significantly outpacing the industry's 11% growth.

The company's cumulative GDP grew by 24% YoY to ₹3,304 crore, nearly three times the industry average. SGI's focus on profitable growth resulted in a 26% increase in net profit, reaching ₹165 crore in Q3 FY26. The firm maintains a strong balance sheet with a solvency ratio of 3.32, far exceeding the regulatory requirement of 1.5.

The company's phygital expansion strategy saw the addition of 14,262 financial advisors, bringing the total to 101,474. SGI's branch network grew to 285 locations, and active policies rose to 69 lakhs. SGI plans to further enhance its distribution network and diversify its product offerings.

(With inputs from agencies.)