South-based Shriram Life Insurance Company (SLIC) on Wednesday reported a net profit of Rs 75 crore for the primary half of the present monetary yr.
It had posted a net loss of Rs 45.8 crore in the April-September interval of the earlier fiscal.
Total new business of the insurer throughout April-September 2022-23 rose to Rs 457 crore as towards Rs 372 crore in the identical interval of 2021-22, it mentioned in a launch.
Gross premium in H1 FY23 elevated to Rs 969 crore from Rs 850 crore earlier.
The firm’s property underneath administration 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, mentioned the technique to mix know-how adoption with rural penetration has breathed new life into the corporate’s dedication to cowl India’s economically susceptible 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 mentioned.
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