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Shriram General Insurance Company (SGI) reported a 23% year-on-year increase in gross direct premium (GDP) to INR 1,180 crore during the first quarter of FY27, outperforming the general insurance industry's reported growth of 11%. Motor insurance remained the company's largest business segment, recording 25% growth, while net profit increased 5% to INR 131 crore. The insurer also expanded its distribution network, branch presence and customer base during the quarter, while maintaining a solvency ratio of 3.02, well above the regulatory requirement.
Shriram General Insurance Company (SGI) reported a 23% year-on-year increase in gross direct premium (GDP) to INR 1,180 crore in the first quarter of FY27, compared with INR 960 crore in the corresponding period last year. The company stated that its premium growth exceeded the industry's reported growth rate of 11% during the same period.
Motor insurance continued to be the insurer's largest business segment, with premium income rising 25% year-on-year to INR 1,080 crore from INR 867 crore. According to the company, the industry's motor insurance segment recorded growth of 14% during the quarter.
The personal accident portfolio increased to INR 43 crore from INR 29 crore, registering 47% growth. Health insurance recorded the highest percentage increase among the company's business segments, rising to INR 13 crore from INR 4 crore, while engineering insurance grew 22% to INR 9 crore. Premium income from the fire insurance segment declined 44% to INR 20 crore, while other miscellaneous insurance businesses recorded a 7% decline to INR 17 crore.
Net profit for the quarter increased 5% year-on-year to INR 131 crore, compared with INR 125 crore in the corresponding quarter of FY26. The company also reported a solvency ratio of 3.02 as of June 2026, exceeding the Insurance Regulatory and Development Authority of India's minimum regulatory requirement of 1.50.
Assets under management (AUM) increased 8.9% year-on-year to INR 14,573 crore from INR 13,377 crore. During the quarter, SGI added 5,176 financial advisors, representing an 8% increase over the previous year, taking its total advisor network to 110,102.
The insurer also expanded its physical presence by increasing its branch network to 291 offices from 279 a year earlier. Its active policy base rose to 72 lakh as of June 2026, compared with 68 lakh in the corresponding period last year, indicating continued growth in its customer base.
Managing Director and Chief Executive Officer Anil Aggarwal said the company continued to focus on expanding its financial advisor network while maintaining disciplined underwriting practices. He added that efficient claims settlement remained central to strengthening customer confidence.
Shriram General Insurance stated that it plans to expand its financial advisor network to 2 lakh by FY2030 while gradually increasing its presence in the health insurance segment. The company said it will continue to focus on underwriting discipline, expanding distribution channels and improving insurance accessibility as it pursues its long-term growth strategy.
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