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 India at LatestLY. The father of the minor accused in the accident involving a luxury vehicle in Maharashtra's Pune has been sent to police custody until May 24, officials said on Wednesday. People threw ink at the police van in which the accused's father was brought to court for the hearing. India News | Father of Minor Accused in Pune Car Accident Sent to Police Custody Till May 24.