Shriram Life Insurance has reported a 42 percent on-year rise in individual new business premium at Rs 507 crore in Q4FY25, up from Rs 357 crore in the same quarter last year.
Individual New Business APE (Annualized Premium Equivalent) also registered a robust growth, increasing 40.5 percent to Rs 482 crore in Q4FY25 from Rs 343 crore a year ago.
Renewal premiums from both individual and group businesses climbed 20 percent during the quarter to Rs 730 crore, compared to Rs 608 crore in the corresponding period of the previous fiscal year.
For the entire financial year FY25, Shriram Life Insurance achieved a 46.3 percent increase in individual new business premium at Rs 1,372 crore, compared to Rs 938 crore in FY24.
The Individual New Business APE rose 45.3 percent year-on-year to Rs 1,289 crore from Rs 887 crore. Total premium collections for FY25 rose 20.2 percent to Rs 4,216 crore, as against Rs 3,508 crore in FY24.
The company also recorded a 17 percent year-on-year increase in its Assets Under Management, which grew from Rs 11,282 crore in FY24 to Rs 13,207 crore in FY25.
Shriram Life sold over 5.41 lakh individual policies in FY25, a 21.1 percent increase from the 4.46 lakh policies sold in FY24. It processed 61,600 claims during the fiscal, up from 58,800 in FY24. Shriram Life’s solvency ratio for FY25 was 1.79, reflecting continued financial stability.
Shriram Life is promoted by Shriram Capital in partnership with Sanlam Africa.
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