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Shriram Life Insurance was incorporated in 2005 and it commenced business in 2006. Since the first year of operations, the company made profits in the first three consecutive years- becoming the only private life insurer to have achieved the distinction. Compared to industry peers after 7 years of operation, Shriram Life insurance was the most profitable life insurance company in the country. The company's performance stands out in efficient use of capital and low cost of operations.
Life insurance arm of Shriram Group has carried forward the group philosophy of financial inclusion by penetrating the unexplored segments. Shriram Life has significantly focused on Inclusive growth by taking life insurance to the section where it is needed the most -The 'AAM AADMI' (Common Man)
Sanlam, the second largest insurer in South Africa and Shriram's Insurance partner, is working closely with the group to take the Insurance Businesses to the next level in the coming years.
Padma Bhushan Mr. R.Thyagarajan founded the Rs 90,000 Cr. Shriram Group, headquartered in Chennai. Established in 1974, the Group caters to the needs of the mass segment, and has evolved as a premium financial services network. Over the last ten years, Shriram Group has grown at an enviable rate, with a CAGR of over 40%. The group has over 2600 branches, with more than 60,000 employees. The group plans to expand its businesses into non- financial services in the near future.
The Group, and is well known for its philosophies which have been imparted by Mr Thyagarajan. These philosophies and values have been methodically instilled and institutionalized into the Shriram group over the last 3 decades- Serve the Underserved thereby creating wealth in the community. Shriram Group Website: www.shriram.com
Sanlam is a leading 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 offices throughout South Africa and business interests elsewhere in Africa, Europe, India, the USA and Australia.
The relationship started in 2005 with emergence of Shriram Life Insurance Company (SLIC), a part of diversified Shriram Group, where SANLAM has 26% stake. In last 8 years the strength of relationship has grown impressively and now SANLAM has 26% stake in the holding company Shriram Capital, which owns companies like Shriram Transport Finance and Shriram City Union Finance (SCUF). Sanlam Website: www.sanlam.co.za
Revenue in Cr
Total Number Of Lives