We are on track to achieving our growth goals with investments in leadership, innovation and technology: Shriram Life Insurance

Despite macroeconomic and regulatory disruptions, the Indian market for life insurance, especially the mid- and lower-income segment, presents a big opportunity for growth, said Shriram Life Insurance MD and CEO Casparus JH Kromhout. Growing business sharply in the last three years — 24 per cent in FY23, 39 per cent in FY24 and 45 per cent in FY25 — the life insurance company anticipates growth to stabilise at around 25-30 per cent for FY26. We are on track to achieve our target CAGR of 27 per cent over FY22-FY30, and are putting in place the building blocks of capacity, innovation and technology, Kromhout added. Speaking about the GST rate cut, he considers it good for customers, but says it will impact margins of the highly competitive insurance industry. We are holding back on repricing