Shriram Life plans to launch 14 new products in FY14

India Infoline News Service | Mumbai |

In order to increase its premium collection, Shriram Life is expanding to strengthen its presence across India

Shriram Life Insurance on Sunday said that it expects the new business premium income to rise 29% to Rs. 5.45 billion by the end of March 2014 from Rs. 4.21 billion in FY12-13.

According to Shriram Life, the total premium income is expected to rise 28.6% to Rs. 7.95 billion by March 2014 from Rs. 6.18 billion in the previous year.

In order to increase its premium collection, Shriram Life is expanding to strengthen its presence across India including states such as Delhi, Madhya Pradesh, Kolkata, Punjab, Uttar Pradesh and Jharkhand.

Currently, the company has strong presence in South India, especially Tamil Nadu and Andhra Pradesh.

The company sold 1.54 lakh policies at the end of March 2013.

The private sector insurer plans to file 14 new products with IRDA (Insurance Regulatory and Development Authority) in the current fiscal. It plans to launch four new products by the end of June this year.

Shriram Life Insurance is a joint venture between Shriram Group and South Africa--based insurance service provider Sanlam






 

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