Aug 06: Shriram General Insurance Company (SGI) delivered a strong start to FY27, outperforming the industry across its key business segments. The company reported a 23% year-on-year increase in Gross Direct Premium (GDP) to ₹1,180 Cr in Q1FY27, compared with ₹960 Cr in the corresponding quarter last year, significantly ahead of the industry’s 11% growth.
Motor insurance, which is the core of SGI’s business, led its growth in the first quarter, expanding by 25%, which comfortably surpassed the industry’s 14% growth. The personal accident portfolio matched the industry’s strong 47% growth.
SGI’s focus on profitable growth continued delivering results, with net profit rising 5% year-on-year to ₹131 Cr in Q1 FY27 from ₹125 Cr a year ago. Furthermore, the company reported a strong solvency ratio of 3.02 as of June 2026, which is well above the regulatory requirement of 1.50, indicating its strong financial reserves.
SGI’s distribution network that expanded under the phygital model was the key growth driver, enabling onboarding of 5,176 new financial advisors during the quarter, an 8% increase over the corresponding period last year, taking its total advisor strength to 1,10,102.
The company also continued to strengthen its physical footprint, expanding its branch network to 291 branches, up from 279 a year earlier, further enhancing its presence across markets.
Growing customer base: Active policies increased to 72 lakh as of June 2026 from the 68-lakh corresponding period last year, reflecting an expanding customer base and sustained business growth.
Segment wise GDP (in Rs. Cr)
|
Particulars |
Q1FY27 |
Q1FY26 |
Growth % |
|
Motor |
1080 |
867 |
25% |
|
Personal Accident |
43 |
29 |
47% |
|
Fire |
20 |
35 |
-44% |
|
Engineering |
9 |
7 |
22% |
|
Health Insurance |
13 |
4 |
211% |
|
Others Miscellaneous |
17 |
18 |
-7% |
|
Total |
1180 |
960 |
23% |
Anil Aggarwal, MD & CEO, Shriram General Insurance Company, said: “We remain focused on expanding our distribution network by recruitment of Financial Advisors, while maintaining disciplined underwriting, which has enabled us to outpace industry growth in Q1 FY27. At the same time, our commitment towards efficient claims settlement reinforces customer trust.”
Shriram General Insurance plans to expand its distribution network by increasing the financial advisor base to 2 lakhs by FY2030. The Company is gradually strengthening its presence in the health insurance segment.
Given the sustained business momentum across key business segments, a strong capital position, and prudent investments in expanding its distribution network, Shriram General Insurance remains well positioned to capitalise on emerging opportunities in India’s growing general insurance market. The company will continue to focus on disciplined underwriting, customer-centric innovation, and broadening insurance accessibility as it advances towards its long-term growth ambitions.