CHENNAI: Shriram General Insurance Company (SGI) reported an increase of 5% in its net profit to Rs 131 crore in the June quarter of FY27 from Rs 125 crore in the corresponding period of the previous financial year.
The insurer reported a 23% year-on-year increase in Gross Direct Premium (GDP) to Rs 1,180 cr in Q1FY27, compared with Rs 960 Cr in the corresponding quarter last year, significantly ahead of the industry’s 11% growth.
Motor insurance, which is the core of SGI’s business, led its growth in the first quarter, expanding by 25%, which comfortably surpassed the industry’s 14% growth. The personal accident portfolio matched the industry’s strong 47% growth.
The company reported a strong solvency ratio of 3.02 as of June 2026, which is well above the regulatory requirement of 1.50, indicating its strong financial reserves.
Anil Aggarwal, MD-CEO, Shriram General Insurance Company, said “we remain focused on expanding our distribution network by recruitment of financial advisors, while maintaining disciplined underwriting, which has enabled us to outpace industry growth in Q1 FY27.”
Shriram General Insurance plans to expand its distribution network by increasing the financial advisor base to 2 lakh by FY2030.