The growth in retail policy count and average ticket size of Rs 13,000 speaks volumes of our endeavour towards insuring the mass segment, says Manoj Kumar Jain, the company's managing director.
Private sector life insurer Shriram Life Insurance has registered a 38 percent rise in gross written premium, clocking Rs 1,020 crore in 2015-16.
The company had posted Rs 741 crore as gross written premium in the previous fiscal.
Shriram Life Insurance clocked Rs 1,020 crore GWP in 2015-16, including NBP accounts for Rs 706 crore and remaining for renewals for Rs 314 crore, a company statement said.
The company had sold 2.67 lakh retail policies during the period, according Shriram Life Insurance Managing Director Manoj Kumar Jain.
"We are committed to spread the message of life insurance.
The growth in retail policy count and average ticket size of Rs 13,000 speaks volumes of our endeavour towards insuring the mass segment," he said.
Stating that the company was able to register 50 per cent of the business from non-southern markets, Jain said "the expansion we embarked in last three years has started to give results".
"We have more than doubled our branch network from 200 odd branches to over 530 and we will continue to penetrate into tier III and IV cities by adding more than 75 branches in current financial year", he said.
For the current fiscal, he said the company was confident of achieving growth of 25-30 percent on all business parameters.