Anil Aggarwal, MD and CEO, Shriram General Insurance Company
Shriram General Insurance does not expect the Supreme Court’s judgment on compensation under the Motor Vehicles Act to have a major impact on its motor third-party portfolio.Notably, the Supreme Court, in a recent judgment delivered on June 11, recognised the economic value of unpaid domestic work performed by homemakers while determining the compensation under the Motor Vehicles Act.“We are analysing the impact. As we are having a large book, we have done the analysis. I don’t think there will be much of a big impact on our books,” Anil Aggarwal, MD & CEO, Shriram General Insurance, told businessline.The Supreme Court judgment provides for compensation under a distinct head — loss of domestic care — based on a monthly income of ₹30,000 with a periodic increase to reflect inflation and socio-economic changes. Motor third-party (TP) loss ratio of the general insurance industry is expected to increase due to this judgment.motor premiumFor Shriram General Insurance, over 90 per cent of its income comes from the motor segment premium. In the motor segment, around 73 per cent and 27 per cent of the premium come from TP and own damage (OD) insurance, respectively.On the company’s strategies to grow its motor segment going forward, Aggarwal said: “My strategy is not to see OD and TP separately. My strategy is always to see overall premium, whether it is profitable or not. Overall, whether OD plus TP and acquisition costs are leaving something on the table. That is the philosophy we are adopting.”In the first quarter this fiscal, its motor segment premium grew 25 per cent year-on-year, compared with industry growth of 14 per cent y-o-y. The insurer, jointly owned by Shriram Group and Sanlam Group of South Africa, posted a 23 per cent y-o-y growth in premium income for Q1FY27, exceeding industry growth of 11 per cent y-o-y during the period.Aggarwal said the company is expecting its premium income to grow around 20 per cent in the current financial year.The company plans to expand its distribution network by increasing the financial advisor base to 2 lakh by FY30. It is gradually strengthening its presence in the health insurance segment.Published on August 7, 2026
