Shriram Life Insurance Company (SLIC) on Thursday announced that it earned a net profit of Rs 31 crore for the third quarter of 2022-23, up sixteen fold from Rs 1.8 crore during the same time last financial year. This was mainly on account of a 10 per cent increase in writing new policies.
During the quarter, SLIC’s gross premium rose 12 per cent to Rs 665 crore up from Rs 592 crore last fiscal, while the number of individual policies written increased by 10 per cent. New business individual premium, a key barometer for performance, rose by 19 per cent year-on-year to Rs 167 crore, during the October-December 2022 period.
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