Shriram Life sees 17% jump in premium growth

CHENNAI: Shriram Life Insurance Company Ltd (SLIC) reported a 17 per cent year-on-year growth in individual new business premium (NBP) in H1 FY26, up from Rs 542 crore in H1 FY25 to Rs 635 crore in H1 FY26. In comparison, the private industry grew by 8 per cent during the same period.

SLIC's individual new business annualised premium equivalent (APE) grew 8 per cent year-on-year to Rs 544 crore in H1 FY26 from Rs 506 crore.

Renewal premiums surged by 43 per cent 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 cleared 30,884 policies in H1 FY25. The claim settlement ratio for FY25 stands at 98.31 per cent. The solvency ratio for H1FY26 is 1.56.

Casparus JH Kromhout, MD-CEO, Shriram Life Insurance, said, “Our strategy has always been focused on making life insurance simpler and more accessible for users.”

“The government’s decision to reduce GST on individual term insurance policies from 18 per cent to zero is a landmark move that will propel the industry forward for a long period of time,” he added.

Sequentially, SLIC reported a 53 per cent quarter-on-quarter growth in its individual new business APE growing to Rs 329 crore in Q2FY26 from Rs 215 crore in Q1FY26. Retail new business premium grew 47 per cent quarter-on-quarter to Rs 378 crore in Q2 FY26 from Rs 257 crore in Q1 FY26.

Individual renewal premiums rose by 71 per cent, reaching Rs 552 crore in Q2 FY26, compared to Rs 323 crore in Q1 of FY26. Total premium grew 26 per cent, 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 per cent with SLIC selling 117,317 policies in Q2 FY26 agaisnt 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 per cent from RS 12,310 crore in H1 FY25.