Gross Premium of Shriram General Insurance up 31 per cent in Q1FY25

Jaipur (Rajasthan) [India], August 7: Shriram General Insurance Company (SGIC) has announced that its Gross Written Premium (GWP) during Q1 FY25 has increased by 31% to Rs 733 crore, over the same period last year surpassing the industry growth of 13%. The company wrote 1282017 policies in Q1FY25 and earned a net profit of Rs. 114 crores during the first quarter of FY25, a growth of 17% from Rs. 98 crores a year ago period. The company has settled 48290 claims during Q1 FY25, compared to 39076 in the year ago period. The solvency ratio was 3.87 as of 30 June 2024 against the regulatory requirement margin of 1.5. The number of live policies has gone up to 62.85 Lakhs in Q1FY25 from 57 Lakhs in the same period a year ago.