We are constantly growing despite industry stagnation: Shriram Life MD, CEO

Our focus is on families in the lower segment, or those families which have a family income in the ₹5-₹15 lakh range only. This segment needs life insurance the most, said Shriram Life MD, CEO

Shriram Life Insurance, promoted by Chennai-based Shriram Group and Africa’s Sanlam Group, became one of the fastest-growing life insurance companies in the financial year 2024-25 (FY25), with its individual new business annualised premium equivalent (APE) rising 45 per cent to ₹1,289 crore, outpacing the private industry’s 15 per cent growth last financial year. The company’s Managing Director and Chief Executive Officer Casparus J H Kromhout, in a video interview with Shine Jacob, talks about its future growth roadmap, focus on the ₹5lakh–₹15 lakh consumer bracket, and rural strategy. Edited excerpts:

 

In FY25, your total premium rose by 20.2 per cent