Shriram Life Insurance Company reported a 20% year-on-year rise in total premium collections to ₹1,954 crore for the first half of FY26, driven by a strong growth in renewal premiums across both individual and group segments. Renewal premiums jumped 43% year-on-year to ₹1,024 crore, reflecting improved customer retention.
“Our strong growth in renewal premiums demonstrates that we have earned the trust of our customers, reflecting the effectiveness of our approach and the dedication of our teams,” said Casparus JH Kromhout, MD and CEO.
Individual premium collections remained largely steady at ₹930 crore, compared with ₹915 crore in the year-ago period. Within this, individual new business premiums stood at ₹635 crore, marking a 17% increase over H1FY25. The individual new business annualised premium equivalent rose 8% year-on-year to ₹544 crore.
Kromhout said the government’s move to reduce GST on individual term insurance policies from 18% to zero will provide a long-term boost to the sector. “This makes pure protection more affordable for millions of Indians and strengthens trust and accessibility in the insurance ecosystem for the long term.”