Shriram Life Insurance Co. Ltd

Indicative price history

Key highlights

• FY25 total premium ₹4,216 Cr (+20.2%), individual APE ₹1,289 Cr (+45.3%), AUM ₹13,207 Cr; solvency 1.72x.
• Promoted by the Shriram Group and Sanlam since 2005; Sanlam moving towards majority under a 2024 restructuring (verify completion).
• About 17.94 Cr shares of ₹10 (paid-up ₹179.4 Cr); UnlistedZone ₹525 (dated Feb 2022) implies about ₹9,400 Cr market cap versus wwipl's last trade of ₹261.
• Rural and lower-income specialist distributing through Shriram Finance's branch network; profit dipped in FY25 as capacity was added.

About Shriram Life

Shriram Life Insurance Company Limited is one of India's 25-odd private life insurers, licensed by IRDAI in 2005 and headquartered in Hyderabad. It is jointly promoted by the Chennai-based Shriram Group — the financial-services group behind Shriram Finance — and Sanlam, the Johannesburg-listed insurer that has been Shriram's insurance partner since 2005. The company's distinctive franchise is in rural and semi-urban India: a large share of its policies are sold to first-time, lower-income buyers through Shriram Finance's truck-finance and chit-fund branches and its own agency force, with average ticket sizes well below the industry norm. Products span term, savings, ULIP, group credit-life (covering Shriram Finance borrowers) and micro-insurance.

FY25 was a year of strong growth: total premium rose 20.2% to ₹4,216 Cr from ₹3,508 Cr, individual new-business APE jumped 45.3% to ₹1,289 Cr from ₹887 Cr, and assets under management grew to ₹13,207 Cr from ₹11,282 Cr. Profitability dipped as the company invested in capacity — net profit was ₹50 Cr in H1 FY25 against ₹70 Cr a year earlier and ₹43 Cr in Q3 FY25 against ₹50 Cr — so full-year FY25 profit is estimated here at about ₹130 Cr versus roughly ₹156 Cr in FY24. Solvency was 1.72 times at September 2024, above the 1.50 regulatory floor. Management (MD & CEO Casparus Kromhout) has said the new surrender-value rules effective October 2024 would have a short-term negative impact on margins.

Ownership: Shriram Capital and other Shriram Group entities have historically held about three-quarters of the equity, with Sanlam Emerging Markets (Mauritius) at 23%. In 2024 Sanlam and the Shriram Group announced a restructuring under which Sanlam would raise its stakes in Shriram Life and Shriram General Insurance to majority levels in exchange for part of its holding in Shriram Finance; the transaction required IRDAI and CCI approvals and its completion status should be verified before relying on any shareholding split. Paid-up capital is about ₹179.4 Cr (roughly 17.94 Cr shares of ₹10), unchanged for several years as the business has been self-funding.

UnlistedZone's page shows an indicative price of ₹525 a share with a lot of 50, but that figure is dated 2 February 2022; Sharescart currently quotes the same ₹525 (lot 100, 52-week range ₹400-525) while wwipl shows a last trade at ₹261 (lot 100). Per the user's instruction the UnlistedZone rate of ₹525 is used here. On about 17.94 Cr shares it implies a market capitalisation of roughly ₹9,418 Cr — about 2.2 times FY25 total premium, about 60-70 times estimated FY25 profit of ₹130 Cr and some 8 times an estimated net worth of around ₹1,150 Cr. Listed peers trade at 1.5-3 times embedded value; Shriram Life does not publish its embedded value, so the rate cannot be benchmarked precisely. The wide gap between dealer quotes (₹261 to ₹525) means buyers should negotiate hard.

Verification status (10 Oct 2026): FY25 premium, APE and AUM, H1 and Q3 FY25 profit, solvency and the Shriram-Sanlam promotion are from press reports (Business Standard, Outlook Business, Cafemutual) of company announcements. The ISIN, lot sizes and dealer prices are from UnlistedZone, Sharescart and wwipl search snippets. CIN, incorporation date, registered office, share count, paid-up capital, the full-year FY24/FY25 profit, net worth, balance-sheet and cash-flow lines, management list, headcount and the shareholding split are from memory or estimated and must be checked against IRDAI public disclosures and the company's annual report before trading.

Where the revenue comes from

• Individual savings & participating plans45%

  Endowment, money-back and participating policies sold through agency and Shriram branches (estimate)

• Group credit-life & group term30%

  Cover for Shriram Finance and other lenders' borrowers (estimate)

• Individual protection (term)10%

  Pure term and return-of-premium plans (estimate)

• ULIP & pension15%

  Unit-linked savings and annuity products (estimate)

Products & services