Shriram Life posts 17% rise in individual new business premium in H1FY26

The insurer's individual new business annualised premium equivalent (APE) grew 8 per cent YoY to ₹544 crore, while renewal premiums surged 43 per cent

Shriram Life Insurance Company Ltd (SLIC) on Thursday said it earned Rs 635 crore as individual new business premium in the first half of FY26, up 17 per cent from Rs 542 crore the previous year. The private industry grew by 8 per cent.

 

SLIC’s individual new business annualised premium equivalent (APE) grew 8 per cent to Rs 544 crore in the first half of this financial year (H1 FY26) from Rs 506 crore the previous year. Individual new business APE stood at Rs 329 crore in the second quarter of FY26, up 53 per cent from Rs 215 crore in the previous quarter.

 

Renewal premiums increased by 43 per cent to Rs 1,024 crore in H1 FY26, compared to Rs 715 crore in H1 FY25. The company settled 37,850 individual and group policies in H1 FY26. It had settled 30,884 policies in H1 FY25.

 

“Our strategy has always been focused on making life insurance simpler and more accessible for everyone we serve,” said Casparus J H Kromhout, managing director and chief executive officer of Shriram Life Insurance. “Leveraging technology to enhance the customer experience remains a top priority. Our strong growth in renewal premiums demonstrates that we have earned the trust of our customers, reflecting the effectiveness of our approach and the dedication of our teams.”

 

“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. This makes pure protection more affordable for millions of Indians and strengthens trust and accessibility in the insurance ecosystem for the long term,” he said.

 

The company’s retail new business premium grew 47 per cent to Rs 378 crore in Q2 FY26 from Rs 257 crore the previous quarter. Individual renewal premiums stood at Rs 552 crore in Q2 FY26, up 71 per cent from Rs 323 crore in Q1 FY26. Total premium was Rs 1,091 crore in Q2 FY26, growing 26 per cent from Rs 863 crore in Q1 FY26.

 

SLIC sold 117,317 policies in Q2 FY26, up 35 per cent compared to 86,750 in Q1 FY26. The company, which is jointly promoted by Shriram Group and Africa’s Sanlam Group, had assets under management of Rs 14,187 crore as of September 2025, up 15 per cent from Rs 12,310 crore in H1 FY25.