Shriram Life Insurance Company is the joint venture between the Shriram Group and the Sanlam Group.
The Shriram Group is one of the largest and well-respected financial services conglomerates in India. The Group's main line of activities in financial services include chit fund, truck financing, consumer durable financing, stock broking, insurance broking and life insurance.
The Group has a customer base of 30 lacs chit subscribers and investors and operates through a network of 630 offices all over the country. The Group has the largest agency force in the private sector consisting of more than 75,000 loyal and dedicated agents.
Sanlam Life Insurance Limited, a part of the Sanlam Group, is one of the largest providers of life insurance in South Africa with 3.2 million individual policies under administration. It has a significant presence across South Africa, United Kingdom and Namibia and is a major provider of life insurance, retirement annuities, saving and investment products, personal loans, home loans and trust services to individuals. The shareholder's funds of Sanlam Life equates to USD 4.4 billion.
The Sanlam Group was established in 1918 and has a leadership position in financial services in South Africa. Demutualized in 1998, the group is listed on the JSE Securities Exchange in Johannesburg and on the Namibian Stock Exchange. It has a current market capitalization of USD 5.4 billion. The Sanlam Group also operates in the areas of group schemes, retirement funds, short-term insurance, asset management and other financial services. It has an employee strength of 8,000 and has shareholder funds in excess of USD 4.6 billion. On 31st December 2004 it had more than USD 48 billion assets under management.
The Shriram Life Insurance Company is set out with the objective of reaching out to the common man with a host of products and services that would be helpful to him in his path to prosperity.
Efficiency in operations, integrity and a strong focus on catering to the needs of the common man, by offering him high quality and cost-effective products and services, are the values driving the organization. These core values are deep-rooted within the organization and have been strongly adhered to over the decades.
The company prides itself on its perfect understanding of the customer. Each product or service is tailor-made to perfectly suit the needs of the customer. It is this guiding philosophy of putting people first that has brought the Company closer to the grassroots and has made it the preferred choice for all the truck financing requirements amongst the customers.