Shriram Life's retail business grew 8% during April-September 2025; total premiums increased 20%.

Lucknow : Individual new business APE, the company's key focus area, grew 8% during the April-September 2025 period compared to the same period last year, similar to the private industry growth rate (8%). Total premiums increased from ₹1,632 crore to ₹1,954 crore, a 20% year-on-year increase.

Premiums earned from group business (including renewals) increased from ₹396 crore to ₹444 crore, a growth of 12%. The company earned individual new business premiums of ₹378 crore in the second quarter (Q2). Renewal premiums for individual policies increased from ₹692 crore to ₹875 crore (H1) and from ₹435 crore to ₹552 crore (Q2). Total premiums increased from ₹863 crore in Q1 FY26 to ₹1,954 crore in Q2 FY26, a growth of 79%. Yo-Year comparison, new individual business premiums increased from ₹543 crore in H1 FY25 to ₹635 crore in H1 FY26 (a 17% increase). New individual business APE increased from ₹506 crore in H1 FY24 to ₹544 crore in H1 FY26 (an 8% increase). It stood at ₹378 crore in Q2 FY26 compared to ₹331 crore in Q2 FY25.

Mr. Manoj Kumar Jain, Managing Director, Shriram Life Insurance, said, “Our quarterly results demonstrate our commitment to reaching and protecting more customers. This also reflects the growing demand for our affordable life insurance plans. Our success is a testament to our aim to provide financial security to every segment, especially rural families.”

He further added, “At Shriram Life, our aim is to meet the specific needs of every customer so that no family in rural areas is left behind. We continuously strive to ensure that all our policyholders receive seamless service, regardless of their location.”

The company has a solvency ratio of 1.76. Its claim settlement ratio in FY24 was 98%, and non-investigated claims were settled within 12 hours of receiving complete documentation.

Mr. Ashish Singh, National Sales Head, stated that Shriram Life has a strong presence in Uttar Pradesh and focuses on the "common man" customer segment. It currently has over 115 sales units in Uttar Pradesh and plans to expand this to 200 units in the next 2-3 years. The company is currently growing at a 50% annual growth rate (YOY) in Uttar Pradesh.

New Launch: Promoted by the Shriram Group and Africa's Sanlam Group, Shriram Life primarily serves rural and middle-income customers, who are mostly first-time insurance buyers.

Recently, the company launched the "Flexi Term Plan"—a non-participating individual term insurance plan that offers unique life cover at affordable premiums. This product also gives the customer the option to increase the sum assured based on life events such as marriage or birth of a child.