Shriram General Insurance reports a 17% rise in Q1 FY25 net profit, plans expansion and new products.

Shriram General Insurance (SGIC) reported a 17% rise in standalone net profit to ₹114 crore in Q1 FY25, with a 31% increase in Gross Written Premium (GWP) to ₹733 crore. The company plans to re-enter the crop insurance market, launch indemnity-based health insurance, and an uninsured vehicle product. SGIC aims to reach a GWP of ₹9,000 crore by FY30, increase financial advisers to 2 lakh, expand headcount to 10,000, and increase branch locations to 500.

August 06, 2024
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