Shriram Life Insurance Q1 results: Reports 27% YoY jump in premium income, eyes deeper rural insurance push

Shriram Life Insurance Company Ltd (SLIC) began fiscal 2026 on a strong footing, recording a 21% year-on-year growth in individual new business premium (NBP) for the first quarter. NBP rose to ₹257 crore in Q1 FY26, up from ₹212 crore a year ago, driven by branch expansion, a wider distribution network, and a sharp increase in average ticket size.

The company’s effort to enhance policy value per customer is bearing fruit. The average ticket size rose 63% to ₹24,799 in Q1 FY26, from ₹15,192 in the year-ago period. While still below the private industry average of ₹87,373, the rise points to deeper insurance penetration among middle and lower-income households.

This growth also supported a 9% year-on-year rise in the annualized premium equivalent (APE), a key indicator of new business quality. Individual new business APE reached ₹215 crore in Q1 FY26, up from ₹198 crore last year.

Renewal premiums also showed strong momentum, increasing 25% to ₹323 crore, compared to ₹259 crore in Q1 FY25. The uptick indicates better policyholder retention and long-term stability in SLIC’s customer base.

Overall, total premium income for the quarter — which includes new business, renewals, and group premium — stood at ₹863 crore, marking a 27% increase over ₹679 crore in the same period last year.

Assets under management (AUM) rose 17% to ₹13,799 crore, from ₹11,841 crore in Q1 FY25, underscoring the insurer’s growing financial scale. During the quarter, SLIC sold 86,750 individual policies, reflecting increased demand for life protection in Tier 2 markets.

Operational performance was also strong. The company settled 18,023 claims across individual and group policies in Q1 FY26, up from 15,924 in the same period last year. In FY25, the individual claims settlement ratio stood at 98.31%, with 93% of non-investigated claims settled within 12 hours of receiving final documentation. The solvency ratio was a healthy 1.75, well above the regulatory minimum.

Commenting on the results, MD and CEO Casparus J.H. Kromhout said, “Our strategy is focused on making life insurance simpler and more accessible for everybody we serve. We believe protection should not be a privilege but a basic financial right for every Indian household no matter where they live or what they earn.”