Jaipur-based Shriram General Insurance has not revised its third-party premium for the last four years, in fact pricing and insured-declared value (IDV) have been reduced because of GST cuts on motor vehicles, said the company’s MD and CEO Anil Kumar Aggarwal.
He said, “In the third-party premium, there has been no revision in pricing for the past four years. I can say that pricing has gone down because the GST has been rationalised and also IDV has also been reduced,” adding that the company’s insurance policies’ volume has gone up because following the GST cut vehicle vendors were giving several types of discounts and GST reliefs. “This has further cut down the sale value of vehicles.”
The Shriram Group’s subsidiary saw a growth of 26% year-on-year in net profit from `131 crore in Q3FY25 to `165 crore in Q3FY26. The company onboarded 4,780 financial advisers in Q3FY26, taking the total strength to 1,01,474. In the nine-month period till December 2025, the company onboarded 14,262 new financial advisers. The company’s active policies rose to 69 lakh as of December 2025 from 64 lakh during the same period last year.
Aggarwal said the company reported a growth 19% against industry growth of 11.49%, growing close to 2 times the industry performance. On a cumulative basis till Q3FY26, SGI’s GDP grew 24% YoY to `3,304 crore, up from `2,654 crore in the corresponding period last year, which is 2.8 times over the industry growth of 9%. Shriram General CEO had set a target of GWP of Rs 4,500 crore for the current financial year, and he is confident that he would breach the target by March 2026.
Speaking about the company surpassing the industry growth, Aggarwal said the Shriram General Insurance focused on two factors – adding more financial and increasing point of sales units. This has also helped the private general insurer to increase its market from 1.15% during the nine-month in FY25 to 1.32% during the same period in FY26. The company market share in motor segment has gone up from 4.73% in FY25 to 5.32%, he claimed.
Recently, the Shriram General Insurance launched its health policy named Shri Suraksha Term Plan. When asked about the reason for introducing the health insurance plan, he said, “We want to underwrite all the line of business, and because we have expertise in motor business. So we contemplated that let us open all the channels. We have taken the baby steps in health segment. Our target premium underwriting was only Rs 6 crore. Our aim to understand the market, to build up the system and the needs of the customers.