Insurance company Shriram reports robust Q1 performance with a 31% surge in Gross Written Premiums (GWP) and a 9% increase in net profit.
Shriram General Insurance Company (SGI) has reported impressive growth in various segments during the first quarter of the financial year 2026 (FY26). The company's focus on expanding its operations and product offerings has yielded positive results, as evidenced by the 31% year-on-year increase in Gross Written Premium (GWP) to Rs. 960 crore.
In the motor insurance segment, SGI has reported a 31% rise in GWP, reaching Rs 866.89 crore. This growth is attributed to increased policy issuance and the recruitment of new financial advisors, with 4,777 new advisors added in Q1 FY26. The company aims to scale up its financial advisor strength to 2,00,000 by fiscal year 2029-30.
For the health insurance segment, SGI is taking an early traction approach with recently launched offerings showing promising uptake. Although specific growth numbers for health insurance are not detailed, the company is clearly investing and positioning this segment as a future growth area.
SGI's solvency ratio stood at 3.35 as of June 2025, well above the regulatory requirement of 1.5. The company managed assets worth Rs 13,377 crore and had 68 lakh active policies at the end of Q1FY26, compared to 63 Lakh a year ago.
The GWP for Personal Accident insurance in Q1 FY26 was Rs 28.96 crore, showing a 9% increase from Q1 FY25. The GWP for Fire insurance was Rs 35.41 crore, showing a 25% increase, and for Engineering insurance, it was Rs 6.98 crore, showing a 17% increase. The GWP for Business Protector insurance was Rs 10.13 crore, showing a significant increase of 389% from Q1 FY25.
Investment income at SGI grew by 7% during Q1 FY26, supported by consistent returns from financial instruments. The GWP for Others Miscellaneous insurance was Rs 7.93 crore, showing a 42% increase from Q1 FY25.
Anil Aggarwal, MD & CEO of Shriram General Insurance Company, stated that the company issued 15.41 lakh policies during Q1 FY26, a 20% increase from the same period last year. He also mentioned that SGI is seeing promising growth in its recently launched health insurance products.
The general insurance industry grew at an average rate of 9% during Q1 FY26, while SGI's net profit rose by 9%, reaching Rs. 125 crore. Overall, SGI's strategy emphasizes aggressive expansion of the financial advisor network, leveraging increased customer trust and market penetration to continue scaling motor insurance premiums, and growing health insurance offerings from their nascent stage to contribute significantly to top-line growth.
[1] Shriram General Insurance Company Press Release - Q1 FY26 Results [3] Shriram Life Insurance Press Release - Rural and Semi-Urban Market Penetration Strategy [5] Shriram General Insurance Company Annual Report - FY25
The Shriram General Insurance Company (SGI)'s impressive growth in the financial year 2026 is not limited to motor insurance, as shown by a 389% increase in the GWP for Business Protector insurance. Additionally, the company's focus on finance extends to investments, with an 7% growth in investment income during Q1 FY26.
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