Shriram Life’s new business premium up 17 percent in H1FY26, renewal premium rise 43 percent

Casparus Shriram Life Insurance

Shriram Life Insurance (SLIC) has clocked a 17 percent on-year rise in its individual new business premium (NBP) to Rs 635 crore in the first half of FY26.

The insurer’s individual new business annualised premium equivalent (APE) increased by 8 percent on-year to Rs 544 crore, while renewal premiums surged 43 percent to Rs 1,024 crore. Sequentially, the insurer delivered a sharp pickup in performance, with individual new business APE up 53 percent to Rs 329 crore in Q2FY26 from Rs 215 crore in Q1FY26. Retail new business premium rose 47 percent quarter-on-quarter to Rs 378 crore, while individual renewal premiums jumped 71 percent to Rs 552 crore. Total premium income grew 26 percent sequentially to Rs 1,091 crore in Q2 FY26.

Policy sales also saw healthy momentum, up 35 percent to 1.17 lakh in Q2FY26 from 86,750 in the previous quarter. During H1FY26, the insurer settled 37,850 individual and group policies compared to 30,884 a year ago. The claim settlement ratio for FY25 stood at 98.31 percent with a solvency ratio of 1.56 as of H1FY26.

Casparus JH Kromhout, the MD and CEO said the Shriram Life's focus on simplifying insurance and leveraging technology continues to drive customer engagement. “Our strong growth in renewal premiums demonstrates that we have earned the trust of our customers, reflecting the effectiveness of our approach and the dedication of our teams,” he added.

Kromhout called the government’s move to reduce GST on individual term insurance policies from 18 percent to zero a 'landmark decision' that would make pure protection products more affordable and expand industry penetration.

Shriram Life, jointly promoted by the Shriram Group and South Africa’s Sanlam Group, reported Assets Under Management (AUM) of Rs 14,187 crore as of September 2025, up 15 percent from Rs 12,310 crore a year ago.