SLIC expects 15-20 pc growth in premium collection

Shriram Life Insurance Co Ltd (SLIC), part of Chennai-based Shriram Group, today said it expects to grow between 15 to 20 per cent in the current financial year in terms of premium collection.
Manoj Kumar Jain, CEO and whole-time director, also said the total premium collected for the period April-October this year has touched Rs 340 crore against Rs 290 crore in the same period last year.
"This year we have grown around 15 per cent in overall till the first 8 months compared to last year. This year we expect to grow between 15 to 20 per cent, when we know that the industry is going to grow at around 5 per cent.

"As much as 50 per cent of insurance business is usually sold in the last four months of the year," Jain told reporters at a press conference.
He said the company sold 78,000 polices till October against 70,000 last year during the same period.
While launching "Shriram Life Assured Income Plan", he said the product has simplified attractive guarantees and is designed to meet the diverse needs such as children's education, retirement, elderly parents' care, etc.