KOCHI: Shriram Life Insurance, a joint venture company of the Shriram group and the Sanlam group of South Africa, has collected a premium of Rs.105 crore as of November 2006.
This is the highest collection of premium in the first year of operation by any private life insurance company, according to Akhila Srinivasan, managing director of the company. She said the Shriram group is planning to enter the general insurance sector and mutual fund business. Shriram Life Insurance has already insured 70,000 lives. The company is targeting a collection of Rs.300 crore as annual premium next year. The company has presence in six States.