Shriram General Insurance — Distribution Mix

Shriram General Insurance's new business was led by the Point of Sales Person (Direct) channel at 39.6% of premium for Q1 FY26-27, as reported in IRDAI form NL-36.

combined ratio, Q1 FY26-27
104.7%
−3.8 pts
incurred claims ratio, Q1 FY26-27
68.7%
−6.2 pts
net commission ratio, Q1 FY26-27
25.6%
+4.2 pts
expense ratio to gross premium, Q1 FY26-27
33.7%
+1.9 pts
Total premium, Q1 FY26-27
₹1,16,149.47 lakh
+23.3%
Leading channel, Q1 FY26-27
Point of Sales Person (Direct)
39.6% of premium

Channel mix — quarter ended Q1 FY26-27 vs. Q1 FY25-26 (year ago)

Channel groupPolicies, Q1 FY26-27Premium, Q1 FY26-27Policies, Q1 FY25-26Premium, Q1 FY25-26
Brokers3,13,126₹29,449.39 lakh (25.4%)1,28,621₹17,890.68 lakh (19.0%)
Agents/POSP7,19,072₹50,888.55 lakh (43.8%)6,77,715₹46,356.26 lakh (49.2%)
Agents/POSP channels (2)
ChannelPolicies, Q1 FY26-27Premium, Q1 FY26-27Policies, Q1 FY25-26Premium, Q1 FY25-26
Individual Agents58,733₹4,860.11 lakh49,513₹4,598.68 lakh
Point of Sales Person (Direct)6,60,339₹46,028.44 lakh6,28,202₹41,757.58 lakh
Direct WebsiteNot disclosed₹0 lakh (0.0%)Not disclosed₹0 lakh (0.0%)
Banks13,162₹350.07 lakh (0.3%)11,155₹266.9 lakh (0.3%)
Direct non-websiteNot disclosed₹0 lakh (0.0%)Not disclosed₹0 lakh (0.0%)
Direct non-website channels (2)
ChannelPolicies, Q1 FY26-27Premium, Q1 FY26-27Policies, Q1 FY25-26Premium, Q1 FY25-26
Direct Business – Officers/EmployeesNot disclosedNot disclosedNot disclosedNot disclosed
Direct Business – OthersNot disclosedNot disclosedNot disclosedNot disclosed
Corporate Agents7,23,601₹34,717.93 lakh (29.9%)6,76,885₹29,365.24 lakh (31.2%)
Others32,306₹743.53 lakh (0.6%)25,213₹355.25 lakh (0.4%)
Others channels (7)
ChannelPolicies, Q1 FY26-27Premium, Q1 FY26-27Policies, Q1 FY25-26Premium, Q1 FY25-26
Micro Agents0₹0 lakhNot disclosed₹0 lakh
Common Service Centres (CSC)631₹10.62 lakhNot disclosed₹0 lakh
Insurance Marketing Firm1,251₹92.36 lakh61₹10.59 lakh
MISP (Direct)30,316₹623.32 lakh25,078₹343.82 lakh
Web Aggregators108₹17.23 lakh74₹0.84 lakh
Referral Arrangements0₹0 lakhNot disclosedNot disclosed
Other0₹0 lakhNot disclosedNot disclosed
Total, India18,01,267₹1,16,149.47 lakh (100%)15,19,589₹94,234.33 lakh (100%)

Per IRDAI Form NL-36 (Business Channels Wise), "For the Quarter" column. Channels are grouped into ARGO's own 7-way classification (Brokers, Agents/POSP, Direct Website, Banks, Direct non-website, Corporate Agents, Others) — click a group with more than one channel to see its own breakdown. "Total, India" sums the 15 channels extracted here and excludes "Business outside India," a separate geography line on the same form. Some insurers report "Direct Business"'s sub-channels (Officers/Employees, Online, Others) as one combined figure rather than a real breakdown — shown as "Not disclosed" for those rows rather than guessed.

Total premium by quarter, trend

PeriodTotal, India premiumPolicies
Q2 FY25-26₹1,06,489.59 lakh15,46,603
Q3 FY25-26₹1,24,017.85 lakh17,16,070
Q4 FY25-26₹1,31,404.67 lakh15,99,913
Q1 FY26-27₹1,16,149.47 lakh18,01,267