Shriram Life Insurance Company (SLIC) has posted a net profit of ₹75 crore for the primary half ended September FY23 towards a loss of ₹46 crore for the year-ago interval.
During the interval underneath overview, complete new business elevated by 23% to ₹457 crore. Assets underneath administration rose to ₹8,149 crore from ₹6,762 crore. Gross premium grew by 14% to ₹969 crore.
The numbers replicate the insurer’s technique to give attention to expertise adoption and rural penetration, it mentioned in a press release.
“Our strategy to blend technology adoption with rural penetration has breathed new life into our 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,” mentioned MD & CEO Casparus J.H. Kromhout.
SLIC is promoted by Shriram Group and South Africa-based monetary companies group Sanlam Ltd.
