Shriram General Insurance Q4 results: PAT at Rs 121 cr, AUM at Rs 12,064 cr

Shriram General Insurance Company Ltd announced a net profit of Rs 121 crore for the January-March 2024 quarter. The company, jointly owned by Shriram Group and South Africa-based Sanlam Ltd, reported a net profit of Rs 455 crore for the fiscal year ending March 31, 2024. During the quarter, the Gross Written Premium reached Rs 876 crore, marking a 30% increase compared to the same period last year. \r

MD and CEO Anil Aggarwal highlighted the company's significant growth in Gross Written Premium, surpassing industry standards. He projected a Gross Written Premium growth of around 30% for FY25. The total assets under management stood at Rs 12,064 crore as of March 31, 2024. \r

Aggarwal outlined expansion plans, including the addition of 25 branches and recruitment of 20,000 agents. The company aims to achieve the vision of 'Insurance for All' by 2047, as appointed by the Insurance Regulatory and Development Authority (IRDA), focusing on expanding coverage in Odisha by deploying agents at Gram Panchayats.