Shriram Life Insurance declares 35% higher bonus for over 3.8 lakh policyholders

Shriram Life Insurance has announced a bonus of ₹201 crore, marking a 35% increase from the previous year's ₹149 crore, driven by robust growth in premium income. The bonus will benefit 3.8 lakh policyholders with participating plans. \r

MD & CEO Casparus J H Kromhout attributed the surge in premium income to new partners, technology upgrades, and focused sales. The company, having sold around 4,46,730 policies and settled 58,800 claims in FY24, maintains a claim settlement ratio of 98%. With 41% of business sourced from rural areas, its Assets Under Management (AUM) rose by 25% to ₹11,282 crore, and it recorded a Profit After Tax (PAT) of ₹158 crore for FY24.\r

Life insurance bonuses are a share of profits distributed among policyholders.