Shriram Life Insurance Company Ltd (SLIC) on Thursday said it earned Rs 635 crore as individual new business premium in the first half of FY26 (H1FY26), up 17 per cent from Rs 542 crore the previous year.
The private industry grew by 8 per cent.SLIC's individual new business annualised premium equivalent (APE) grew 8 per cent year-on-year (Y-o-Y) to Rs 544 crore in H1FY26. Individual new business APE stood at Rs 329 crore in the second quarter of FY26, up 53 per cent Y-o-Y.Renewal premiums increased by 43 per cent to Rs 1,024 crore in H1FY26. The company settled 37,850 individual and group policies in H1 FY26.
"The government's decision to reduce GST on individual term insurance policies from 18 per cent to zero is a landmark move that will propel the industry forward for a long period of time. This makes pure protection more affordable for millions of Indians and strengthens trust and accessibility in the insurance ecosystem for the long term," said Casparus J H Kromhout, CFO and MD, Shriram Life Insurance.
The company's retail new business premium grew 47 per cent to Rs 378 crore in Q2 FY26 from Rs 257 crore the previous quarter. Individual renewal premiums stood at Rs 552 crore in Q2 FY26, up 71 per cent from Rs 323 crore in Q1 FY26. Total premium was Rs 1,091 crore in Q2 FY26, growing 26 per cent from Rs 863 crore in Q1 FY26.SLIC sold 117,317 policies in Q2 FY26, up 35 per cent compared to 86,750 in Q1 FY26.
The company, which is jointly promoted by Shriram Group and Africa's Sanlam Group, had assets under management of Rs 14,187 crore as of September 2025, up 15 per cent from Rs 12,310 crore in H1 FY25.
-- Business Standard
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