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Shriram Life Insurance is planning for a big expansion really soon
Shriram Life Insurance is planning for a big expansion really soon
Jun 30, 2015 | 309 VIEWS
Shriram Life Insurance Company Limited has announced their expansion plans to take a big leap in their life insurance business. The company is expected to open around 75 new offices in the near future and is targeting a 25% growth from its new business income. 

Currently Shriram Life has 460 branches in India of which 190 are in Southern part of India, where it has strong presence. The Company plans to open offices in Bihar, Uttar Pradesh, Maharashtra, Odhisha, Jharkhand, Madhya Pradesh, Punjab and Gujarat. The insurer is also partnering with gold loan and micro-finance firms to reach out to the rural population. 

Company’s achievement at a glance:
  • Won prestigious International Arch of Europe Award.
  • Total 1.91 lakhs policies sold during fiscal ending March 2015 of which around 80,000 was sold in rural areas.
  • Only private life insurance company to have made profits is 3 consecutive years and profits in 9 out of 10 years of its commencement of operation.
  • The retained earnings of the company jumped to 32% for the financial year ending March 2015. 
Shriram Life Insurance Company Limited is the joint venture between the Shriram Group (76%) and the Sanlam Group (26%). The financial services group has a large network of 630 offices and 75,000 agents across India and through them they can reach out to acquire and service their insurance clients.

 

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