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NewsVoir Jaipur Rajasthan [India] May 22 Shriram General Insurance Company SGIC has announced that its Gross Written Premium GWP during Q4 FY24 has increased by 30 to Rs 876 crore over the same period last year For the fiscal year ended March 2024 the insurer witnessed a 34 growth in GWP surpassing the industry growth of 128 The company wrote 1474981 policies in Q4FY24 and earned a net profit of Rs 121 crore during the fourth quarter of FY24 Profits for the year rose 22 YoY at Rs 455 crore The company has settled 55997 claims during Q4 FY24 compared to 42442 in the year ago period The solvency ratio was 402 as of March 2024 against the regulatory requirement margin of 15 The number of live policies has gone up from 5295 lakhs in FY23 to 6258 Lakhs in FY24 Segment wise GWP in Cr Business line growth as against industry during Q4 FY24 Anil Aggarwal MD CEO Shriram General Insurance Company said The year gone by has been a milestone for our business as we recorded the highest ever growth s
Get latest articles and stories on Business at LatestLY. Jaipur (Rajasthan) [India], May 22: Shriram General Insurance Company (SGIC) has announced that its Gross Written Premium (GWP) during Q4 FY24 has increased by 30% to Rs 876 crore, over the same period last year. For the fiscal year ended March 2024, the insurer witnessed a 34% growth in GWP, surpassing the industry growth of 12.8%. The company wrote 1474981 policies in Q4FY24 and earned a net profit of Rs. 121 crore during the fourth quarter of FY24. Profits for the year rose 22% YoY at Rs 455 crore. The company has settled 55997 claims during Q4 FY24, compared to 42442 in the year ago period. The solvency ratio was 4.02 as of March 2024 against the regulatory requirement margin of 1.5. The number of live policies has gone up from 52.95 lakhs in FY23 to 62.58 Lakhs in FY24. Business News | Shriram General Insurance's Q4 Results: GWP Up 30 Per Cent to Rs 876Cr, Records Highest Ever Growth in FY 2023 -24.
Get latest articles and stories on Latest News at LatestLY. Shriram General Insurance Company Ltd has reported a net profit for the January-March 2024 quarter at Rs 121 crore, the company said on Wednesday. Latest News | Shriram General Insurance Records Q4 Net at Rs 121 Cr; GWP Rose 34 Per Cent.