Shriram Life’s Individual New Business Premium Up 46% in FY25
Chennai, May 19, 2025: Shriram Life Insurance Company Ltd reported a 46.3% year-on-year growth in Individual New Business Premium, rising from ₹938 crore in FY24 to ₹1,372 crore in FY25.
The Individual New Business APE (Annualized Premium Equivalent) rose to ₹1,289 crore in FY25, reflecting a year-on-year growth of 45.3% over ₹887 crore in FY24. This growth notably outpaced the private industry’s 15% increase, positioning it among the fastest-growing life insurers in the country.
Renewal premium across individual and group business rose by 18.4% year-on-year, reaching ₹1,939 crore in FY25 from ₹1,637 crore in FY24.
For the full fiscal year ending March 2025, total premium rose by 20.2% to ₹4,216 crore in FY25, up from ₹3,508 crore in the previous year. SLIC’s Assets Under Management (AUM) rose to ₹13,207 in FY25 from ₹11,282 crore in FY24, marking a 17% YoY increase.
The number of individual policies sold grew by 21.1% in FY25, rising from 4,46,730 in FY24 to 5,41,048.
For the fourth quarter of FY25, individual new business premium grew 42% to ₹507 crore compared to ₹357 crore. Individual New Business APE rose 40.5% year-on-year to ₹482 crore from ₹343 crore in Q4. Renewal premium for individual and group business grew 20% to ₹730 crore from ₹608 crore in the quarter.
Casparus J.H. Kromhout, MD and CEO, Shriram Life Insurance, said, “Shriram Life Insurance has moved into a high-growth orbit, and we’re seeing continuous and sustainable momentum across all key areas. The visibility for long-term growth is strong, supported by our unwavering commitment to serving the needs of our customers.”
“We are not just expanding in numbers, but also in relevance—reaching families from the segments of the society that have traditionally been left out of the insurance fold. As we scale further, we remain committed to inclusive growth and long-term value creation,” he added.
During FY25, the company settled 61,600 claims in both individual and group policies compared with 58,800 claims last fiscal. The company’s individual claim settlement ratio for FY25 was 98.31%, with 93% of all non-investigated claims settled within 12 hours of last document received.
The solvency ratio for FY25 stands at 1.79.
