Shriram Life Insurance records 20.2% rise in total premium in FY2025

CHENNAI, May 20: Shriram Life Insurance Company Ltd has recorded a 20.2 per cent rise in its total premium to Rs 4,216 crore for the financial year ending March 31, 2025, on the back of continuous and sustainable momentum across all key areas, a top official said.
The company had recorded a total premium of Rs 3,508 crore in the last financial year.
The total Assets Under Management for the year ending March 31, 2025, grew to Rs 13,207 crore, as compared to Rs 11,282 crore registered in FY2024.
The individual new business APE (Annualised Premium Equivalent) surged by 45.3 per cent to Rs 1,289 crore for the financial year ending March 31, 2025, as compared to Rs 887 crore registered in the previous financial year.
The growth in the individual new business outpaced the industry’s 15 per cent growth, Shriram Life Insurance said in a company statement on Tuesday.
“Shriram Life Insurance has moved into a high-growth orbit, and we are seeing continuous and sustainable momentum across all key areas. The visibility for long-term growth is strong, supported by our unwavering commitment to serving the needs of our customers,” Shriram Life Insurance MD and CEO Casparus J H Kromhout said.
For the quarter ending March 31, 2025, the company’s new business premium grew to Rs 507 crore up by 42 per cent from Rs 357 crore registered in the corresponding quarter of last financial year.
The individual new business Annualised Premium Equivalent grew by 40.5 per cent to Rs 482 crore, from Rs 343 crore registered in the same quarter of last financial 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 said.
During the financial year ending March 31, 2025, the company settled 61,600 claims in both individual and group policies compared to 58,800 claims made in the last financial year, the statement added. (PTI)

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