Shriram Insurance’s total premium for FY 2022-23 stood at Rs 2,546 crore as against Rs 2,350 crore recorded in FY 2021-22.
Shriram Life Insurance Company sold around 3 lakh policies in FY23, including group business, while SLIC provided life cover with over 53 lakh individual policies during the year
Shriram Life Insurance Company Ltd has reported a net profit of Rs 156 crore for the year ended March 31, 2023, the company said on Sunday. Shriram Life Insurance Company Limited (SLIC) is promoted by the Shriram Group and Sanlam Limited, a South Africa-based financial services firm.
The company sold around 3 lakh policies in FY23, which includes group business, while SLIC provided life cover with over 53 lakh individual policies during the year, said a press release here.
“Our growth has been driven by the adoption of technology and innovation, which has enabled more rural policy holders to complete their paperless statements,” said Kasperus JH Kromhout, Managing Director of the company.
“We have strengthened our digital capabilities with a focused approach to solve customer needs and at the same time maintain engagement with our customers,” he added.
The company said that the total premium for FY 2022-23 stood at Rs 2,546 crore as compared to Rs 2,350 crore recorded in FY 2021-22.
The company said that the total assets under management stood at Rs 9,012 crore by FY 2022-23, as against Rs 7,683 crore registered in FY 2021-22.
“The industry is in a phase with high potential to grow owing to diverse market demographics, increasing awareness and technological advancements. Shriram Life looks forward to continuing the growth momentum in the years to come…” said Kromhout.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
