Tag: Shriram General Insurance

Jaipur, March, 2025.In the wake of rising fraudulent and bogus claims, Shriram General Insurance Company (SGI), one of the largest non-life insurance providers in India, has strengthened its claims investigation team for investigating motor third party claims.A Motor Accidents Claims Tribunal (MACT) is a special court established under the Motor Vehicles Act to adjudicate compensation claims arising from motor vehicle accidents, providing a faster and less expensive alternative to civil courts for victims of  road accidents. Unfortunately, many claims that come up for settlement at the MACT are fraudulent or bogus claims.The Claim Review team will thoroughly examine the claims to spot inconsistencies. While claims found to be bonafide will be forwarded for processing ...

Jaipur, February, 2025.Shriram General Insurance (SGIC) has launched its first ever indemnity health insurance plan - Shri Health Suraksha Insurance, designed to cover a wide variety of treatments, including modern procedures and AYUSH treatments (Ayurveda, Yoga, Unani, Siddha, and Homeopathy), offering flexible options to meet the insured’s diverse healthcare needs. The new offering provides nationwide coverage, allowing access to cashless treatments at over 13,000 network hospitals with a range of options enabling individuals choose a plan suitable to their needs.Anil Aggarwal, MD & CEO, Shriram General Insurance Company says, “Apart from being emotionally depleting, health emergencies or conditions can drain your finances. Shri Health Suraksha offers comprehensive coverage a...

Jaipur, February 2025.Driven by strong growth in motor premium, Shriram General Insurance Company (SGI) has reported a 25% year-on-year increase in Gross Written Premium (GWP) for Q3 FY25, at Rs. 1061 Cr, up from Rs. 850 Cr in the same quarter last year. For the 9M FY25, GWP grew by 23% year-on-year, rising from Rs 2160 Cr to Rs. 2654 Cr, significantly outperforming the general insurance industry's growth rate of 8%.  Net profit for the quarter rose to Rs 131 Cr , a 12% growth from Rs. 117 Cr in the same period last year.Investment Income rose by 13%.  Anil Aggarwal, MD & CEO of Shriram General Insurance Company, stated, "Our focused strategy in the motor sector is yielding positive outcomes. This quarter, we achieved significant progress in digital transformation...

Jaipur, November 2023.Shriram General Insurance Company (SGIC) on Tuesday said it wrote 27,34,197 policies driven by growth in GWP and higher focus towards Electrical Vehicle segment (6.39%).The company earned a net profit of Rs 217 crores during the first half of FY24, a 47 % increase YoY. For the Q2 of FY24, the net profit was Rs 119 crores. The Board of Directors declared an Interim Dividend of Rs. 3/- per share.The insurer, jointly owned by Shriram Group and Africa’s Sanlam Group, said that 83% of all its policies were issued through digital mode. Its Gross Written Premium (GWP) stood at Rs 1310 crores, a rise of 32 % over the same period last year and the Company is hopeful of achieving a premium growth of around 40% in FY 2023-24. The company’s solvency at the end of Sept...