Profile of the Shriram Life Insurance
SHRIRAM LIFE INSURANCE
Shriram Life Insurance was incorporated in 2005 and began business in 2006. Since the initial year of operations, the company earned profits in first three consecutive years- becoming the sole non-public life-insurer company to possess earned the excellence. Compared to trade nobles after seven years of operation, Shriram Life insurance was the utmost profitable life-insurance company within the nation. The company’s performance stands move into effective usage of capital plus low value of operations.
In accordance with group philosophies, Shriram Life has expressively focussed on Inclusive growth by taking life insurance to the sector where…show more content… R.Thyagarajan set up the Rs. 90,000 Cr. Shriram Group, headquartered in Chennai. Established in 1974, the Group satisfies to the needs of the mass segment, and has developed as a premium financial services network. In the course of the most recent ten years, Shriram Group has grown up at a lucky rate, with a CAGR of more than 40%. The group has more than 2600 branches, with more than 60,000 employees. The group has thoughts to grow its business into non-financial services sooner rather later.
The Cluster is branded for its philosophies that are imparted by Mr. Thyagarajan. These philosophies and values are deliberately imparted and controlled into Shriram group over the last three decades - Serve the Underserved by this means creating wealth in the community.
Sanlam is a prominent financial services group, originally established as a life insurance company in 1918.Their head office is in Bellville near Cape Town in South Africa and they have workplaces all through South Africa and business interests elsewhere in Africa, Europe, India, the USA and…show more content… SHRIRAM LIFE INSURANCE AT A GLANCE
• Started as a joint venture of the Shriram group and Sanlam group
• Incorporated in 2005 and started operations in January 2006
• Total individual new business premium : 2871 crores
• Only private life insurer to report profits in the first year and 4 consecutive years of operations
• One of the very few life insurers with low operating cost
• Total premium on group policies : 636 crore
• Assets under management : 2368 crores
• Second life insurer in India to be certified with ISO 27001
• Total number of branches : 528
• Total individual life policies issued : 12.43 lakhs
• Policies issued to customers in 30* states (including union territories)
• Total lives covered 96.97 lakhs (including group insurance)
3.5. Awards and Accolades
• Mr. R Thyagarajan, founder chairman Shriram group received the Padma Bhushan award from Hon’ble president of