Shriram Life Insurance Company was incorporated on 15 March 2005. It is a Joint Venture between Sanlam Group and Shriram Group to reach out to the common man with high-quality financial products and services. The Company has a network of 455 offices and 3,784 agents across India. Shriram Life Insurance has an Indian promoter Holding of 74.60% (Shriram Group) and a foreign promoter holding of 23.00% (Sanlam Group). The Annualized Premium Equivalent (APE) of the Company grew to ₹ 513 Crores in FY’21 from ₹ 453 Crores last year showing a growth of 13%. The Claim Settlement Ratio for the company is 85.3% as of July 2021. The Profit After Tax witnessed an exponential rise from which went from ₹ 35.30 Crores in FY’20 to ₹ 106.91 Crores FY’21 showing YoY growth of 200.82 %. The Company has currently expanded its financial services to customers residing in remote rural locations which have made up approximately 47% of its new business
*Disclaimer: Investors should consider certain risk factors such as wide bid ask spread, delay in expected IPO, change in underlying business fundamentals impacting adversely on original investment rationale, security becoming further illiquid due to demand/supply imbalance and IPO floor may turn out to be lower than investors expectation.