Latest News | Shriram Life Insurance Posts Net Profit of Rs 75 Cr in H1 FY23
Get latest articles and stories on Latest News at LatestLY. South-based Shriram Life Insurance Company (SLIC) on Wednesday reported a net profit of Rs 75 crore for the first half of the current financial year.
New Delhi, Nov 9 (PTI) South-based Shriram Life Insurance Company (SLIC) on Wednesday reported a net profit of Rs 75 crore for the first half of the current financial year.
It had posted a net loss of Rs 45.8 crore in the April-September period of the previous fiscal.
Total new business of the insurer during April-September 2022-23 rose to Rs 457 crore as against Rs 372 crore in the same period of 2021-22, it said in a release.
Gross premium in H1 FY23 increased to Rs 969 crore from Rs 850 crore earlier.
The company's assets under management grew by 21 per cent to Rs 8,149 crore as of September 30, 2022.
Casparus J H Kromhout, MD and CEO, Shriram Life Insurance, said the strategy to blend technology adoption with rural penetration has breathed new life into the company's commitment to cover India's economically vulnerable segments.
"We are now able to reach more customers across a bigger geography, provide value through relevant products and efficient customer service processes like claims settlement within 12 hours even for remotest locations," Kromhout said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)