Shriram Life Q1 individual new business premium rises 21% on wider reach

Shriram Life Insurance reports Rs 257 crore individual new business premium in Q1FY26, up 21% Y-o-Y, driven by branch expansion, higher ticket size, and rural market focus

Shriram Life Insurance Company Ltd reported a 21 per cent year-on-year growth in individual new business premium (NBP) in the first quarter of fiscal 2026, driven by a broader distribution footprint, higher average ticket size, and branch expansion, the company said in a statement on Wednesday.

 

The NBP rose from ₹212 crore in Q1FY25 to ₹257 crore in Q1FY26. For Q1FY26, the average ticket size — the average premium amount per policy sold — for individual policies stood at ₹24,799, compared with ₹15,192 in Q1FY25. In comparison, the average ticket size for the private industry in Q1FY26 was ₹87,373.

 

 

Casparus J.H. Kromhout, managing director and chief executive officer, Shriram Life Insurance, said: “Shriram Life Insurance is guided by a clear vision — to deepen its presence in rural and semi-urban markets and reach every corner of the country. Our strategy is focused on making life insurance simpler and more accessible for everybody we serve.”

 

This growth in average ticket size was also reflected in the individual new business annualised premium equivalent (APE), which rose 9 per cent year-on-year to ₹215 crore in Q1FY26, up from ₹198 crore in Q1FY25. 

 

Renewal premium across the individual business rose 25 per cent year-on-year to ₹323 crore in Q1FY26 from ₹259 crore in Q1FY25. Total premium for Q1FY26 increased 27 per cent year-on-year to ₹863 crore from ₹679 crore.

 

SLIC’s assets under management (AUM) grew 17 per cent to ₹13,799 crore in Q1FY26 from ₹11,841 crore in Q1FY25. The company sold 86,750 policies in Q1FY26. The solvency ratio for the quarter stood at 1.75.

 

During the first quarter of FY26, the company settled 18,023 claims in both individual and group policies, compared with 15,924 claims in the same period last fiscal. In FY25, the company settled 98.31 per cent of individual claims, with 93 per cent of all non-investigated claims settled within 12 hours of receiving the last document.

 

SLIC has been deepening strategic partnerships to broaden its reach into the remotest corners of the country, reinforcing its commitment to financial inclusion. “We believe protection should not be a privilege, but a basic financial right for every Indian household — no matter where they live or what they earn. That’s why these partnerships matter,” said Kromhout.

 

With a network of 537 branches across the country, the company offers a range of affordable products including term, endowment, unit-linked insurance plans (ULIPs), and annuities tailored for rural and urban middle-class customers.