Latest news with #ShriramGroup
Business Standard
15 hours ago
- Business
- Business Standard
Shriram General Insurance Posts Strong Q1: GWP Up 31%, Net Profit Rises 9%
NewsVoir Jaipur (Rajasthan) [India], July 29: Shriram General Insurance Company (SGI) delivered a strong performance in Q1 FY26, driven by sustained momentum in its motor insurance portfolio. The company recorded a 31% year-on-year increase in Gross Written Premium (GWP), reaching Rs. 960 crore, up from Rs. 733 crore in Q1 FY25--well ahead of the general insurance industry's average growth rate of 9%. Key Highlights of Q1FY26 - 31% YoY growth in GWP while the industry grew at 9 % - 9% YoY growth in Net Profit - Solvency ratio at 3.35 as on 30th June 2025 - 31% YoY growth in the Motor segment - 5% increase in recruitment of Financial Advisors during the quarter Net profit for the quarter rose by 9%, climbing to Rs. 125 crore from Rs. 114 crore in the same period last year. Additionally, investment income grew by 7%, supported by consistent returns from financial instruments. Anil Aggarwal, MD & CEO of Shriram General Insurance Company, said, "It's been a strong start to the year. Our Q1 performance reflects the strength of our core segments and the growing trust of our customers. We issued 15.41 lakh policies during the first quarter of FY26, a 20% increase from 12.82 lakh policies in the same period last year." "While the motor segment continues to be a consistent performer, we're also seeing promising growth in the recently launched health insurance products. We're optimistic that this momentum will carry forward in the years ahead. With such a strong start to the year, we're excited about the potential to deliver standout results in the upcoming quarters," he noted. The company's solvency ratio stood at 3.35 as of June 2025, well above the regulatory requirement of 1.5 . SGI had 68 lakh active policies at the end of Q1FY26 compared to 63 Lakh a year ago. The company's drive to onboard Financial Advisors gained further momentum with 4777 new Financial Advisors recruited during the quarter. SGI's total Financial Advisor strength stands at 93,769 with plans to scale this up to 2,00,000 by fiscal year 2029-30. Shriram General Insurance Company (SGIC), jointly owned by Shriram Group and Sanlam Group, South Africa offers a complete range of general insurance products, ranging from motor, home and personal accidents and health in the retail space and customized products like fire, engineering, and marine insurance in the corporate space. Shriram General Insurance manages assets worth Rs 13377 crore across with 68 lakh live policies. The company has 279 branches in 26 states and an employee strength of 4156 across India, as of June 2025. Shriram Group is India's leading financial conglomerate with a dominant presence in retail financing, life insurance, general insurance, chit fund, stock broking, asset management, distribution of financial products, and wealth advisory services. The Group focuses on serving the underserved and is driven by its financial inclusion agenda of bringing finance to low-income families and small businesses. As of March 2025, Shriram Group has an overall customer base of over 3.3 crore, a marketing force of 1,74,000, manpower strength of over 1,16,500 across 4,650 branches and manages an AUM of Rs 3.37 lakh crore.
Fashion Value Chain
a day ago
- Automotive
- Fashion Value Chain
Shriram General Insurance Posts Strong Q1: GWP Up 31%, Net Profit Rises 9%
Key Highlights of Q1FY26 31% YoY growth in GWP while the industry grew at 9 % 9% YoY growth in Net Profit Solvency ratio at 3.35 as on 30 th June 2025 31% YoY growth in the Motor segment 5% increase in recruitment of Financial Advisors during the quarter Shriram General Insurance Company (SGI) delivered a strong performance in Q1 FY26, driven by sustained momentum in its motor insurance portfolio. The company recorded a 31% year-on-year increase in Gross Written Premium (GWP), reaching Rs. 960 crore, up from Rs. 733 crore in Q1 FY25-well ahead of the general insurance industry's average growth rate of 9%. Net profit for the quarter rose by 9%, climbing to Rs. 125 crore from Rs. 114 crore in the same period last year. Additionally, investment income grew by 7%, supported by consistent returns from financial instruments. Mr. Anil Aggarwal, MD & CEO, Shriram General Insurance Anil Aggarwal, MD & CEO of Shriram General Insurance Company, said, 'It's been a strong start to the year. Our Q1 performance reflects the strength of our core segments and the growing trust of our customers. We issued 15.41 lakh policies during the first quarter of FY26, a 20% increase from 12.82 lakh policies in the same period last year.' 'While the motor segment continues to be a consistent performer, we're also seeing promising growth in the recently launched health insurance products. We're optimistic that this momentum will carry forward in the years ahead. With such a strong start to the year, we're excited about the potential to deliver standout results in the upcoming quarters,' he noted. The company's solvency ratio stood at 3.35 as of June 2025, well above the regulatory requirement of 1.5 . SGI had 68 lakh active policies at the end of Q1FY26 compared to 63 Lakh a year ago. The company's drive to onboard Financial Advisors gained further momentum with 4777 new Financial Advisors recruited during the quarter. SGI's total Financial Advisor strength stands at 93,769 with plans to scale this up to 2,00,000 by fiscal year 2029-30. Segment wise GWP (in Rs. Cr) Particulars Q1FY26 Q1FY25 Growth % Motor 866.89 663.86 31% Personal Accident 28.96 26.59 9% Fire 35.41 28.27 25% Engineering 6.98 5.96 17% Health 4.08 0.75 445% Business Protector 10.13 2.07 389% Others Miscellaneous 7.93 5.59 42% Total 960.38 733.08 31% About Shriram General Insurance Company Shriram General Insurance Company (SGIC), jointly owned by Shriram Group and Sanlam Group, South Africa offers a complete range of general insurance products, ranging from motor, home and personal accidents and health in the retail space and customized products like fire, engineering, and marine insurance in the corporate space. Shriram General Insurance manages assets worth Rs 13377 croreâ¯across with 68 lakh live policies. The company has 279 branches in 26 states and an employee strength of 4156 across India, as of June 2025. ⯠About Shriram Group Shriram Group is India's leading financial conglomerate with a dominant presence in retail financing, life insurance, general insurance, chit fund, stock broking, asset management, distribution of financial products, and wealth advisory services. The Group focuses on serving the underserved and is driven by its financial inclusion agenda of bringing finance to low-income families and small businesses. As of March 2025, Shriram Group has an overall customer base of over 3.3 crore, a marketing force of 1,74,000, manpower strength of over 1,16,500â¯across 4,650 branchesâ¯and manages an AUM of Rs 3.37 lakh crore.
Business Standard
5 days ago
- Business
- Business Standard
Shriram Finance Q1 PAT jumps 9% YoY to Rs 2,156 cr
The NBFC's standalone net profit jumped 8.84% to Rs 2,155.73 crore on a 20.11% increase in total income to Rs 11,541.76 crore in Q1 FY26 over Q1 FY25. Profit before tax stood at Rs 2,906.73 crore in Q1 FY26, up 9.01% as against Rs 2,666.59 crore reported in Q1 FY25. Net interest income grew 12.55% to Rs 6,026.43 crore in Q1 FY26 as against Rs 5,354.47 crore recorded in the same period a year ago. As of 30 June 2025, total assets under management climbed 16.62% to Rs 2,72,249.01 crore compared to Rs 2,33,443.66 crore as of 30 June 2024. The liquidity coverage ratio was at 268.74% as of 30 June 2025, as against 225.19% as of 30 June 2024. The cost-to-income ratio improved to 29.29% in Q1 FY26 from 27.45% reported in Q1 FY25. The firm's return on assets (ROA) (including exceptional items) and return on equity (ROE) (including exceptional items) stood at 2.76% and 15.07%, respectively, in the quarter ended 30 June 2025. Operating profit improved by 8.78% to Rs 4,192.42 crore in Q1 FY26 from Rs 3,854.14 crore in Q1 FY25. Shriram Finance is India's largest retail asset financing non-banking finance company (NBFC). It is the flagship company of the Shriram Group, which has a significant presence in consumer finance, life insurance, general insurance, housing finance, stock broking, and distribution businesses. Shares of Shriram Finance fell 3.53% to close at Rs 611 on the BSE.
India.com
20-07-2025
- Business
- India.com
Meet 82-Year-Old Man Who Lives In A Simple Home, Doesn't Own Mobile Phone Yet Leads Rs 1,50,000 Crore Business Empire—He Is...
photoDetails english Meet 82-year-old Ramamurthy Thyagarajan, the man behind the Rs 1.5 lakh crore Shriram Group. Despite his massive business success, he lives simply with no mobile phone, modest home, and a ₹6 lakh car. He's also known for donating Rs 6,210 crore to charity, proving true wealth lies in values, not lifestyle. Updated:Jul 20, 2025, 06:59 PM IST The Billionaire With No Mobile Phone 1 / 7 Ramamurthy Thyagarajan, the 87-year-old founder of Shriram Group, is no ordinary billionaire. Despite heading a massive Rs 1.5 lakh crore financial empire, as per the website of his company, Shriram Group he lives a life marked by simplicity. He doesn't own a mobile phone, lives in a modest house, and drives a humble Rs 6 lakh car. His story stands out in a world where success is often equated with luxury. A Humble Beginning in Tamil Nadu 2 / 7 Born into a peasant family in Tamil Nadu, Thyagarajan grew up with limited resources but a strong sense of discipline and purpose. He pursued mathematics in Chennai and later specialized in statistics at the Indian Statistical Institute in Kolkata. His strong academic background would eventually shape his future as a visionary entrepreneur. The Birth of Shriram Group 3 / 7 In 1974, at the age of 37, Thyagarajan co-founded Shriram Chits along with AVS Raja and T Jayaraman. Their aim was clear—to provide financial services to those often neglected by mainstream banks. This included truck drivers, small traders, and lower-income borrowers. What started as a modest initiative slowly transformed into one of India's largest financial services groups. An Empire That Serves Millions 4 / 7 Today, Shriram Group operates across thousands of locations and serves more than 11 million clients. With over 70,000 employees and 1.4 lakh agents, the group has grown into a major financial force with an asset under management (AUM) of Rs 1.5 lakh crore. Thyagarajan's people-first vision continues to drive the group's success. He Donated Rs 6,210 Crore 5 / 7 In a landmark move, Thyagarajan sold his stake in the company—worth Rs 6,210 crore—and donated the entire amount to a public trust. Instead of using his wealth for personal comfort or luxury, he decided to dedicate it to the greater good. This act of generosity remains one of the biggest philanthropic gestures in Indian business history. A Life Guided by Values, Not Wealth 6 / 7 Even with enormous success, Thyagarajan remains grounded. He has never been tempted by the trappings of wealth. He lives simply, avoids publicity, and stays true to the principles of integrity, humility, and service. His lifestyle is a refreshing contrast to the typical image of a billionaire. The Legacy of Ramamurthy Thyagarajan 7 / 7 Ramamurthy Thyagarajan's life is a lesson in purpose-driven success. He built a financial empire from scratch, empowered millions, and gave back more than most ever earn. In a time when status is often measured in luxury, his quiet, impactful journey reminds us that true success lies in how much we uplift others.
Time of India
10-07-2025
- Business
- Time of India
Legacy companies pan focus on financial services for affluent, HNIs and UHNIs
Chennai: Legacy companies offering financial products for the common man have turned their attention towards services for affluent, high net-worth individuals (HNIs) and ultra high net-worth individuals (UHNI) investors. These groups with a strong footing in the financing space for the SMEs, commercial vehicles, consumer and enterprise, farm and construction equipment, besides engaged in retail stock broking, insurance and chit funds, have forayed into dedicated wealth management services for the sophisticated financial needs of the affluent segments recently. With traditional lending models grapple with narrowing margins, rising regulatory burdens, and fintech-led disruption, decades old NBFCs and diversified financial institutions are increasingly entering the wealth management space, driven by a confluence of structural and strategic factors, according to industry experts. Further, wealth management is a natural extension that allows for cross-selling of products such as Portfolio Management Services (PMS), Alternative Investment Funds (AIF) and family office services for legacy institutions with established ties to SME promoters and entrepreneurial families, they observed. HNIs are those with an investable asset of a minimum of $1 million, while UHNIs are those with more than $30 million assets. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top Game Deals – Up to 90% Off! Shop Now Undo India is home for over three million affluent, HNI and UHNI households. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai Last month, more than 50-years-old Shriram Group launched Shriram Wealth, a 50:50 greenfield joint venture with South Africa's Sanlam Group. The company will offer wealth management, lending solutions, protection solutions, global investment opportunities, and inheritance and legacy planning to the affluent and HNI investors. It is targeting an Asset Under Advice (AUA) of Rs 50,000 crore over next five years. "Many of Shriram Group's long-standing clients have grown in their financial journey—from credit seekers to wealth creators. This upward shift in financial capability necessitates a more sophisticated, solutions-led approach to wealth. The move is also aligned with the group's vision of offering end-to-end financial solutions under one roof, ensuring customers continue to grow within our ecosystem as their financial needs mature," Vikas Satija, MD & CEO, Shriram Wealth said. The company is also planning to onboard 500 specialised wealth professionals for the purpose, he added. A fortnight ago, seven decades old NBFC Sundaram Finance announced that it has expanded Sundaram Wealth as a dedicated wealth management offering to cater to the financial needs of HNI, UHNIs and affluent families. It is targeting an AUM of Rs 20,000 crore – Rs 25,000 crore over the next four to five years. Prime Securities, a listed Merchant Banker with three decades of expertise in the financial sector, has branched out into the wealth management arena with TriGen Wealth in 2024. "India is undergoing an exciting transformation with a significant generational wealth transfer and a surge of wealth creation by first-time entrepreneurs and young professionals. These developments are expanding opportunities at an unprecedented scale," said Sailesh Balachandran, founder and joint-CEO, Prime Trigen Wealth. It is targeting more than $3 billion in Assets under Administration (AuA) in five years. Mahendra Patil, founder and managing partner, MP Financial Advisory Services LLP said, "Legacy financial services firms are repositioning themselves as lifecycle financial partners for India's growing affluent class. With trust as their biggest asset and an existing base of promoter-driven relationships, these firms are well-placed to gain share in India's fast-maturing wealth ecosystem," he added.
