Shriram General Insurance premium income jumps 21% in H1FY27, outpaces industry growth of 9%
Shriram General Insurance reported a nearly 21% increase in gross direct premium income during the first half of FY27, significantly outperforming the general insurance industry's 9% growth. Strong motor insurance demand, expanding distribution and higher non-motor premiums supported the insurer's performance.
- Nov 10, 2026,
- Updated Nov 10, 2026 8:17 PM IST
Shriram General Insurance Company (SGI) reported gross direct premium (GDP) income of ₹2,470.41 crore in H1FY27, compared with ₹2,045.46 crore in the corresponding period last year, registering year-on-year growth of 20.78%.
The insurer maintained its growth momentum in the September quarter, with premium income increasing 18.94% to ₹1,290.59 crore from ₹1,085.08 crore in Q2FY26. The industry recorded growth of 6.97% during the quarter.
Motor insurance remains key growth driver
Motor insurance continued to dominate SGI's business, generating premiums of ₹2,269 crore in H1FY27, compared with ₹1,869 crore a year earlier, representing growth of 21%.
This exceeded the industry's motor insurance growth of 13.15%.
During Q2FY27, motor premiums increased 19% to ₹1,189 crore from ₹1,002 crore in the year-ago quarter.
The company's non-motor insurance business also recorded growth, with premiums rising 14% to ₹201 crore in H1FY27 from ₹176 crore. Industry-wide non-motor growth stood at 7.11%.
Personal Accident insurance premiums grew 28% year-on-year, compared with industry growth of 19%.
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Net profit rises, solvency remains strong
SGI reported a 7.28% increase in net profit to ₹289.04 crore during H1FY27, against ₹269.42 crore in the corresponding period last year.
Assets under management increased 3.69% to ₹14,778 crore from ₹14,252 crore.
The insurer maintained a solvency ratio of 2.62 as of September 2026, above the regulatory requirement of 1.50.
Anil Aggarwal, Managing Director and CEO of Shriram General Insurance, attributed the performance to disciplined expansion and sustained momentum across business segments.
"SGI's performance in the first half of FY27 reflects the strength of our business model and our continued focus on disciplined growth," Aggarwal said.
"We have sustained strong momentum in our core motor insurance business while also recording encouraging growth across segments such as Personal Accident and non-motor insurance."
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Distribution network and customer base expand
The company continued expanding its distribution network through a combination of physical branches and digital channels.
SGI onboarded 9,802 financial advisors during H1FY27, taking its total advisor strength to 1,13,717.
Its branch network expanded to 291 locations from 281 a year earlier.
The insurer's active policy count increased to 79 lakh from 69 lakh in H1FY26, reflecting an expanding customer base.
Aggarwal said the company would continue strengthening its distribution network, improving customer experience and broadening insurance accessibility while maintaining profitable growth.
The insurer, jointly owned by Shriram Group and South Africa's Sanlam Group, operates across motor, health, personal accident, home and commercial insurance segments.
Shriram General Insurance Company (SGI) reported gross direct premium (GDP) income of ₹2,470.41 crore in H1FY27, compared with ₹2,045.46 crore in the corresponding period last year, registering year-on-year growth of 20.78%.
The insurer maintained its growth momentum in the September quarter, with premium income increasing 18.94% to ₹1,290.59 crore from ₹1,085.08 crore in Q2FY26. The industry recorded growth of 6.97% during the quarter.
Motor insurance remains key growth driver
Motor insurance continued to dominate SGI's business, generating premiums of ₹2,269 crore in H1FY27, compared with ₹1,869 crore a year earlier, representing growth of 21%.
This exceeded the industry's motor insurance growth of 13.15%.
During Q2FY27, motor premiums increased 19% to ₹1,189 crore from ₹1,002 crore in the year-ago quarter.
The company's non-motor insurance business also recorded growth, with premiums rising 14% to ₹201 crore in H1FY27 from ₹176 crore. Industry-wide non-motor growth stood at 7.11%.
Personal Accident insurance premiums grew 28% year-on-year, compared with industry growth of 19%.
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Net profit rises, solvency remains strong
SGI reported a 7.28% increase in net profit to ₹289.04 crore during H1FY27, against ₹269.42 crore in the corresponding period last year.
Assets under management increased 3.69% to ₹14,778 crore from ₹14,252 crore.
The insurer maintained a solvency ratio of 2.62 as of September 2026, above the regulatory requirement of 1.50.
Anil Aggarwal, Managing Director and CEO of Shriram General Insurance, attributed the performance to disciplined expansion and sustained momentum across business segments.
"SGI's performance in the first half of FY27 reflects the strength of our business model and our continued focus on disciplined growth," Aggarwal said.
"We have sustained strong momentum in our core motor insurance business while also recording encouraging growth across segments such as Personal Accident and non-motor insurance."
ALSO READ: New motor insurance rules from December 15: Car, bike owners can choose 4 types of cover
Distribution network and customer base expand
The company continued expanding its distribution network through a combination of physical branches and digital channels.
SGI onboarded 9,802 financial advisors during H1FY27, taking its total advisor strength to 1,13,717.
Its branch network expanded to 291 locations from 281 a year earlier.
The insurer's active policy count increased to 79 lakh from 69 lakh in H1FY26, reflecting an expanding customer base.
Aggarwal said the company would continue strengthening its distribution network, improving customer experience and broadening insurance accessibility while maintaining profitable growth.
The insurer, jointly owned by Shriram Group and South Africa's Sanlam Group, operates across motor, health, personal accident, home and commercial insurance segments.