Shriram General profit jumps 26% in FY 2026 on motor-led growth

Net income reached $18m in Q3 FY 2026 as motor premiums hit $129m.

Shriram General Insurance reported a 26% year-on-year (YoY) rise in net profit to $18.2m (₹165 crore) for the third quarter of fiscal year 2026 (FY 2026), driven mainly by growth in its motor insurance portfolio.

Gross direct premium rose 19% YoY to $138.4m (₹1,258 crore) in the quarter ended December 2025, compared with $116.7m (₹1,061 crore) a year earlier, outpacing the industry growth rate of 11%.

For the nine months to December 2025, the insurer’s gross direct premium increased 24% YoY to $363.4m (₹3,304 crore) from $291.9m (₹2,654 crore) in the same period last year.

This compares with an industry growth rate of about 9% over the same period. Motor insurance remained the largest contributor, with premium rising 19% YoY to $128.8m (₹1,171 crore) in Q3 FY 2026.

Personal accident premium grew 15% to $4.9m (₹44.3 crore), whilst engineering insurance rose 38% to $0.8m (₹7.5 crore). Fire insurance recorded a modest 3% increase to $2.1m (₹18.9 crore).

Investment income rose 17% YoY to $28.1m (₹255 crore) in Q3 FY 2026 from $23.9m (₹217 crore) a year earlier.

The company’s solvency ratio stood at 3.32 as of 31 December 2025, well above the regulatory requirement of 1.5.

The insurer onboarded 14,262 new financial advisors in the first nine months of FY 2026, taking its total advisor base to 101,474.

Its branch network increased to 285 branches, up from 278 a year ago. Active policies rose to 69 lakh as of end-December 2025, compared with 64 lakh in the previous year.

Looking ahead, the company expects to close FY 2026 with gross written premium of around $0.51b (₹4,600 crore) and has set a target of $0.88b (₹8,000 crore) by 2030.

It also plans to expand its advisor network to 200,000 by FY 2030 and is exploring opportunities in parametric insurance and surety bond insurance.

($1.00 = ₹90.33)