08/02/2018 MUMBAI: Casparus Kromhout, Managing Director & CEO, Shriram Life at a press convention in Mumbai on February 8, 2018 to announce Shriram Life Insurance with SureBuddy to supply India freelife insurance coverage cowl. Photo: Paul Noronha
| Photo Credit: PAUL NORONHA
Shriram Life Insurance reported a greater than 29% enhance in gross premium to ₹745 crore (from ₹576 crore within the yr precedent days) for the September quarter.
The variety of particular person insurance policies bought by the non-public insurer stood at 87,575 as towards 72,499 within the yr precedent days. Assets Under Management (AUM) as much as September stood at ₹10,146 crore, an increase of 25% YoY.
Profit after tax, nevertheless, declined to ₹31.1 crore (₹35.6 crore).
“With every quarter, we are intensifying our focus on rural families, reaching out to them with the right kind of solutions and easy-to-use technology,” MD and CEO Casparus J H Kromhout mentioned. The firm sources 45% of its enterprise from the agricultural phase.
For the primary six months of present fiscal, complete premium of Shriram Life was ₹1,462 (₹970 crore) on the again of a surge in group new enterprise premium to ₹515 crore (₹193 crore). The variety of particular person insurance policies the corporate bought was 1,42,914 (1,29,841). PAT for the primary half of the yr declined to ₹70 crore (₹75.1 crore).
Lead insurer
With the Insurance Regulatory and Development Authority of India (IRDAI) appointing Shriram Life as lead life insurer in Telangana, the corporate has kickstarted a collection of insurance coverage consciousness campaigns within the State. Last month, it had convened the primary State Level Insurance Committee assembly in Hyderabad, by which officers of IRDAI, the State authorities and SPOCs of different insurers participated. A multi-pronged technique is being developed for enhancing insurance coverage penetration in Telangana, the corporate mentioned.
