On 4th May 2012, The Insurance Regulatory and Development Authority (IRDA) released an order whereby it has imposed a fine of Rs.28 lakhs on M/s Shriram Life Insurance Company Ltd

IRDA had conducted an onsite inspection of Shriram Life Insurance Company in 2010 which revealed certain violations of the provisions and regulations of the Insurance Act, 1938. There were several charges whereby Shriram Life Insurance Co was found in compliance of the rules barring a few observations for which the...  Read More »

Leapfrog has invested $ 15 million into Shriram Group, a Chennai-based financial services company, and they plan to extend quality insurance, investment, savings products etc to underserved Indian markets.

Shriram Group offers financing, retail brokerage services, insurance to customers. The company will now target lower-end mass market with insurance rather than loans. Shriram group will offer life insurance coverage of up to Rs 5 lakhs (approx) for a premium of around Rs 1000, to its target...  Read More »

ICICI Prudential Life Insurance has left its private counterparts way behind by collecting a premium Rs 7860.99 crores during the financial year 2010-11. This is a 24% jump from its premium collections of Rs 6334.3 crores in FY 2009-10.

 
Out of 22 private life insurance companies in India, ICICI Prudential Life Insurance has turned out to be the highest gainer followed by SBI Life which collected Rs 7570.72 crores. SBI Life has shown an increase of 7.53% over its premium collections of Rs...  Read More »

Shriram Life Insurance Company has big plans for the future. The four year old company, which is a joint venture between Chennai’s Shriram Finance and South Africa’s Sanlam Group, are now focusing on making their presence Pan India. The company is looking to make a capital infusion of Rs.50 crores in the coming months.

The company has been in existence for 4 years now. Earlier they had a capital infusion of Rs.125 crores. Shriram Life Insurance had reported profits in the first 3 years of...  Read More »