Shriram General Insurance eyes four-fold growth in GWP to ₹10k cr by 2030

The insurer plans to quadruple its premium base by 2030 as it expands its advisor network and motor portfolio while maintaining strong profitability and solvency

Shriram General Insurance Company (SGI), jointly owned by Shriram Group and South Africa’s Sanlam Group, is targeting a four-fold increase in gross written premium (GWP) to Rs 10,000 crore by 2030, a top company executive said on Wednesday.

 

This compares with Rs 2,045 crore during the first half of fiscal 2026, marking a 28 per cent year-on-year rise from Rs 1,594 crore in H1 FY25 — four times the general insurance industry’s average growth rate of 7 per cent.

 

“By the end of this fiscal, we expect to touch Rs 4,500 crore GWP, and by 2030 around Rs 10,000 crore,” said Anil Aggarwal, managing director and chief executive officer of SGI.

 

 

Consistent growth in profit and investment income

 

During the period under review, SGI’s net profit increased 6 per cent to Rs 269 crore from Rs 254 crore in the same period last year. Investment income rose 18 per cent, driven by steady returns from financial instruments.

 

In the second quarter of FY26, the motor segment grew 26 per cent year-on-year. Net profit was up 3.1 per cent to Rs 144 crore from Rs 140 crore in Q2 FY25, while investment income jumped 30.5 per cent to Rs 253 crore from Rs 194 crore a year earlier.

 

“The sustained growth of our motor insurance portfolio reflects the trust our customers place in us and underscores our commitment to innovation, reliability, and excellence. We will continue setting the standard for solutions that protect and empower every journey,” said Aggarwal.

 

SGI’s solvency ratio stood at 3.33 as of September — well above the regulatory requirement of 1.5 times. The company had 6.9 million active policies as of September, up from 6.3 million a year earlier.

 

Advisor base expansion and branch network

 

The company’s drive to onboard financial advisors gained momentum during the period, with 9,482 new advisors recruited in the first half of the fiscal. SGI’s total advisor strength stands at 97,570, with plans to scale up to 200,000 by FY30.

 

Shriram General Insurance manages assets worth Rs 13,754 crore. The company operates 281 branches across 26 states and employs about 4,200 people.

 

Segment-wise performance

 

In the personal accident segment, GWP grew 25 per cent to Rs 32.93 crore, up from Rs 26.25 crore. The fire segment posted a 7 per cent increase to Rs 24.94 crore, while the engineering segment rose 11 per cent to Rs 6.58 crore.