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Shriram Life clocks Rs 1,020 crore gross premium

Shriram Life Insurance has clocked 1,000 crore of total premium for the 2015-16. Of the Rs 1,020 crore, new business premium accounts for Rs 706 crore and remaining Rs 314 crore is renewals, the private insurer said today in a release issued here. " We sold close to 2.67 lakh retail policies, which ranks us among top 7 private life insurers in the country. I am proud that Shriram Life is now a Pan India company," Shriram Life Managing Director Manoj Kumar Jain said. For the current financial year 2016-17, Jain said the company will achieve growth of 25-30 per cent on all business parameters.

Shriram Life Insurance in India

Shriram Life Insurance, made profits in the first three consecutive
years — becoming the only private life insurer to have achieved the distinction. Compared to industry peers after 10 years of operation, Shriram Life insurance was the most profitable life insurance company in the country. The company's performance stands out in efficient use of capital and low cost of operations. In line with group philosophy, Shriram Life has significantly focussed on Inclusive growth by taking life insurance to the section where it is needed the most — The 'AAM AADMI' (Common Man). The Founders have always maintained a firm focus in the rural market since they put their first step in 1974 towards building the group.

The standing committee of Parliament on Insurance, Headed by Honourable member of Rajya-Sabha Dr. Maya Singh has applauded Shriram Life's sincerity towards business through socially weaker segment and policies sold in rural areas. Shriram Life generates more than 40% of its business through the segment, again a confirmation of the business model. The company also has an outstanding Underwriting Record; Underwriting Profits have emerged every year without a break. Shriram Life was awarded the best "Underwriting Initiative of the Year " at 'Stars of the Industry awards by 94.3 My FM' for innovation in relaxing the underwriting standards to suit the customer base. The Company is poised to make further growth and achieve bigger milestones in the years to come.

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