Shriram GIC Unlisted Share Price

Shriram General Insurance Company Limited Unlisted Shares - Company Overview

Shriram General Insurance Company Limited was incorporated on July 28, 2006 as a company under the Companies Act 1956 and is registered in India.

Shriram General Insurance is a Joint Venture of Shriram Group (India) and Sanlam of South Africa wherein Shriram Capital Limited is holding around 67% stake and Sanlam is holding around 23% stake.

The purpose of the company is to provide business and personal insurance solutions to individual consumers.

Shriram General Insurance focuses its company model on serving as many common people as it can. The company is reassuring the service parameters by ensuring that each employee understands the slogan "BE INSURED…REST ASSURED" in its spirit to give the best possible outcome.

Shriram GIC Limited Unlisted Share Details as of March 31, 2024

Shriram GIC Limited Incorporation Details

Shriram General Insurance Company Limited Principal Business Activities

Shriram General Insurance Company Limited Board of Directors

Mr. P.S. Gopalakrishnan, Chairman

Mr. Jasmit Singh Gujral

Mr. G. Anantharaman

Mr. Mathew Verghese

Mr. Stephanus Phillipus Mostert

Mr. Sanjeev Mehra

Mr. Vipen Kapur

Mr. Umesh Govind Revankar

Mr. Asher Grevler

Mr. Neeraj Prakash

Mr. Anil Kumar Aggarwal

Ms. Mona Mathur

Mr. Ian Maxwell Kirk

Mr. Rohan Suri

Shriram General Insurance Company Limited Particulars of Subsidiary And Associate Companies

Shriram General Insurance Company Limited Particulars Shareholding Pattern (As of 31-03-2024)

General Insurance Industry Outlook

In the years 2021–2022, the non-life insurance industry grew by more than 11%. The gross written premium of the industry for the year ended March 31, 2022, was around Rs. 2,20,772.07 crore as against Rs. 1,98,736.21 crore in the previous year. But the growth of GWP is not coming at the expense of industry profits. Stiff competition and high infrastructure costs are the major hurdles to generating underwriting profits. As of March 31, 2022 there are 32 General Insurance Companies operating in India. Out of the total of 32 General Insurers six are in the public sector, including ECGC and AIC (specialized insurance companies), and 26 are in the private sector, including 5 standalone health insurance companies.

FY 2022–23 will be the year of the withdrawal of accommodation and monetary tightening by global Central Banks. When the global economy seemed to be on the cusp of witnessing green shoots of recovery after leaving the worst of the COVID-19 pandemic behind (despite uncertainties associated with subsequent waves of infection and rising global inflationary pressures), the Russia-Ukraine crisis escalated. The RBI was forced to front-load the repo rate hike by 40 basis points and the CRR hike by 50 basis points due to a build-up of upside inflation risk caused by surges in global commodity prices and persistent supply-side disruptions. RBI Monetary Policy focus has shifted toward withdrawing accommodation as inflationary pressures have diminished significantly. It’s not just India; almost all emerging economies are reeling under these external shocks. We, however, believe that India’s underlying economic fundamentals are strong, and despite the short-term turbulence, the impact on the long-term outlook will be marginal. The results of growth-enhancing policies and schemes (such as production-linked incentives and the government’s push toward self-reliance) and increased infrastructure spending will start kicking in from 2023, leading to a stronger multiplier effect on jobs and income, higher productivity, and more efficiency—all leading to accelerated economic growth.