Page 2 - Shriram Life Insurance

We will grow above 28% this fiscal: Shriram Life MD Casparus J H Kromhout

The rural population in India is around 65-70 percent. It is much more difficult to reach rural customers, said Kromhout

Shriram Life Insurance posts profit after tax at Rs 31 cr in Sep quarter

Shriram Life Insurance Ltd has reported a profit after tax for the three months ended September 30, 2023, at Rs 31.1 crore, the company said on Friday. The company, jointly promoted by Sriram Group and South Africa-based financial services group Sanlam Ltd had reported a profit after tax at Rs 35.6 crore during the corresponding quarter of last year. For the six-month period ended September 30, 2023, the profit after tax stood at Rs 70.4 crore as against Rs 75.1 crore registered in the same period of last year, a press release said on Friday. The company as of September 30, 2023, has assets under management of Rs 10,146 crore as compared to Rs 8,149 crore registered during the same period of last year. Gross premium as of September 30, 2023, stood at Rs 1,462 crore, as compared to Rs 970 crore registered during the same period of last year. Commenting on the financial performance, company MD and CEO Casparus J H Kromhout said, "With every quarter, we are intensifying our focus on

Shriram Life insurance posts Rs 70 cr net profit in first half of 2023-24

Shriram Life Insurance announced an 88 per cent increase in new business premium for retail and group policies in H1FY24 at Rs 860 crore compared to the year-ago period

Shriram Life insurance posts Rs 35 crore net profit in first quarter

Despite a slight drop in profits, the company sees an 82% surge in total premium earned compared to the previous year

Markets are at starting point of a mid-to-long term bull run: Ajit Banerjee

The mid and small caps look a bit heated up from a near-term perspective. The earning yields of mid and small-cap stocks on a trailing 12-month basis are higher than that of largecaps

Shriram Life Insurance declares highest-ever bonus of Rs 149 crore

Shriram Life Insurance Company, promoted by Shriram Group and South Africa-based financial services firm Sanlam Ltd, has declared its highest ever bonus of Rs 149 crore, the company said on Friday. The bonus saw an increase of 25 per cent over the previous year and will benefit 3.29 lakh individuals. "The increase in bonus reflects SLIC's commitment to serve customers and to help them achieve their financial goals and security. This further reflects our strong fundamentals and products," company MD and CEO Casparus J Kromhout said. The bonus came in the backdrop of record profits and growth in its individual non-single premiums. In FY23, the company had sold 2.90 lakh policies. "Considering the uniqueness of the rural customer segment that we predominantly operate in, this bonus declaration would have a positive impact on rural families," he said in a statement. For the year ending March 31, 2023 the company's assets under management exceeded Rs 9,000 crore with an increase of 17

Shriram Life Insurance rolls out unit-linked plan with flexible options

Shriram Life Insurance Company, a part of the Shriram Group, on Wednesday said it has unveiled a new unit-linked policy that offers financial control with multiple fund options and investment strategies. Policy holders can opt to cover either whole life or a specific period of time enabling them to fulfil their financial aspirations with full flexibility, the company said. The scheme, which has been launched commemorating the golden jubilee year of the Shriram Group, has two options -- Life Goal and Legacy -- providing customers options to alter policy term, premium payment term, sum assured and premium. Life Goal offers cover for a specified period while Legacy offers cover till the age of 100. Commenting on the launch of the product, Shriram Life Insurance MD and CEO Casparus Kromhout said: "We are delighted to announce this plan on our Group's momentous milestone. The plan gives various flexibilities and options to choose from, provides financial protection and encourages long-t

Shriram Life Insurance net rises over 50-fold to Rs 156 cr in FY23

Strong growth in individual non-single premiums drives better show

Shriram Life aims to double rural presence by 2025 using digital campaign

Company uses various digital channels for agents and customers to access life insurance products and services

Shriram Life profit grows multi-fold to Rs 31 crore for Dec quarter

Shriram Life Insurance Company (SLIC) on Thursday posted a multi-fold jump in net profit at Rs 31 crore for the third quarter of FY'23. The company had earned a profit of Rs 1.8 crore in the same quarter a year ago, SLIC said in a statement. During the quarter, the company's gross premium rose 12 per cent to Rs 665 crore, while the number of individual policies written increased by 10 per cent. The company has received approval for facial authentication for eKYC from UIDAI for new policies, which will help onboard new customers with ease, it added. Policyholders of Shriram Life can complete their KYC via OTP, facial recognition, biometric and iris identification. Shriram Life is currently the ninth-largest insurer in the country in terms of number of regular premium policies sold.

Shriram Life Insurance Company net profit up to Rs 31 crore in Q3

New business individual premium, a key barometer for performance, rose by 19 per cent year-on-year to Rs 167 crore, during the October-December 2022 period

Shriram Life Insurance Company posts net profit of Rs 75 crore in H1FY23

South-based Shriram Life Insurance Company (SLIC) on Wednesday reported a net profit of Rs 75 crore for the first half of the current financial year. It had posted a net loss of Rs 45.8 crore in the April-September period of the previous fiscal. Total new business of the insurer during April-September 2022-23 rose to Rs 457 crore as against Rs 372 crore in the same period of 2021-22, it said in a release. Gross premium in H1 FY23 increased to Rs 969 crore from Rs 850 crore earlier. The company's assets under management grew by 21 per cent to Rs 8,149 crore as of September 30, 2022. Casparus J H Kromhout, MD and CEO, Shriram Life Insurance, said the strategy to blend technology adoption with rural penetration has breathed new life into the company's commitment to cover India's economically vulnerable segments. "We are now able to reach more customers across a bigger geography, provide value through relevant products and efficient customer service processes like claims settlement w

Shriram Life Insurance posts 38% growth in FY16

New Business Premium grew to 706 crore from Rs 512 crore