Overview
Shriram Life Insurance Company (SLIC) announced its FY26 performance in Maharashtra, highlighting that retail policies grew 31% year‑on‑year, surpassing the private industry’s 12% increase, while retail premiums rose 17% versus 9% for peers.
Policy and Premium Growth
- Retail policy count in Maharashtra expanded by 31% in FY26, outpacing the private sector’s 12% growth.
- Retail premium in the state increased 17% YoY, compared with a 9% rise for private competitors.
New Business and Premium Metrics
- SLIC’s new‑business individual premium climbed 21% to Rs 1,666 cr in FY26, up from Rs 1,372 cr in FY25.
- Retail annualised premium equivalent grew 14% to Rs 1,475 cr in FY26, up from Rs 1,289 cr in FY25.
Strategic Initiatives
The company emphasized continued investment in Maharashtra, citing an expanded agency and bancassurance network, enhanced digital onboarding, and upgraded customer service as drivers of the growth momentum.
Company Profile
- SLIC operates 729 branches nationwide, offering term plans, endowment policies, ULIPs and annuities, and serves over 15.3 lakh in‑force policyholders.
- As of March 2026, its assets under management reached ₹15,216 cr.
Shriram Group Context
- Shriram Group, the parent conglomerate, serves more than 2.98 crore customers through a marketing force of over 1.85 lakh and a workforce of over 1.15 lakh across more than 4,700 branches.
- The Group’s total AUM stood at ₹3.69 lakh cr as of March 2026, with diversified interests in retail financing, asset reconstruction, wealth management, life and general insurance, chit funds, stock broking, financial product distribution, and asset management.
Executive Comment
Casparus J.H. Kromhout, Managing Director and CEO of Shriram Life Insurance, stated that Maharashtra is a key focus market and the company is confident that the current growth trajectory will continue.