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Gross Premium of Shriram General Insurance up 31% in Q1FY25
Jaipur, Rajasthan, India
Gross Written Premium (GWP) during Q1 FY25 was Rs.733 Cr, 31% growth YoY.
The net profit jumps to Rs 114 Cr in Q1 FY25, a 17% growth from the year ago period.
AUM stands at Rs. 12268 Cr as on 30 June 2024, an 8.74% growth from Rs 11282 Cr same period a year ago.
Solvency ratio stands at 3.87 as of 30 June 2024, highest in the country.
Motor business grows by 34% and non-motor by 10% in Q1FY25.
No of live policies has increased to 62.85 Lakhs in Q1FY25 from 57 Lakhs in Q1FY24
Shriram General Insurance Company (SGIC) has announced that its Gross Written Premium (GWP) during Q1 FY25 has increased by 31% to Rs 733 crore, over the same period last year surpassing the industry growth of 13%. The company wrote 1282017 policies in Q1FY25 and earned a net profit of Rs. 114 crores during the first quarter of FY25, a growth of 17% from Rs. 98 crores a year ago period. The company has settled 48290 claims during Q1 FY25, compared to 39076 in the year ago period. The solvency ratio was 3.87 as of 30 June 2024 against the regulatory requirement margin of 1.5. The number of live policies has gone up to 62.85 Lakhs in Q1FY25 from 57 Lakhs in the same period a year ago.
Segment wise GWP (in Cr) till June 2024:
Particulars | For the Quarter ended on 30-Jun-2024 | For the Quarter ended on 30-Jun-2023 |
in FY25 |
Motor | 663.86 | 496.72 | 34 % |
Fire | 28.27 | 23.84 | 19% |
Engineering | 5.96 | 4.35 | 37% |
Others Miscellaneous | 35.00 | 34.68 | 0.92% |
Total | 733.08 | 559.59 | 31% |
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