THE INDIA INSURANCE AWARDS 2012, sponsored by India Insurance Review & Celent for the category of ” EXCELLENCE IN GROWTH ” has been conferred upon Shriram General Insurance Co. Ltd for second consecutive year. The Jury consisted of Mr.S.B. Mathur, Secretary General, Life Insurance Council, Mr.R. Chandrasekaran ,Secretary General, General Insurance Council , and Mr. Vepa Kamesan , Managing Director, Institute of Insurance and Risk Management; and Mr. Shirish Pathak , CEO , Fintelekt they had the following to state : This award seeks to applaud the comprehensiveness of growth achieved by a non life insurance provider on all counts namely – coverage, volumes, revenues, business mix, product portfolio and market share. The award honours growth that appears to be sustainable in the long run. Through this award the jury seeks to commend the work of an insurer which has achieved healthy growth in the non life segment in the fiscal 2011-12.
The winner of the award is Shriram General Insurance Company
Winning the award for a second time, Shriram General Insurance Company has once again demonstrated overall growth excellence in the general insurance sector. Primarily focused on the motor insurance business, the company has grown its client base from 12.2 lakh to 17.3 lakh customers in the last fiscal. Primarily focused on the motor insurance business, the company has grown its client base from 1.9 lac to 17.3 lac customers in a span of 4 years- the fastest in the sector. In a hyper competitive market, Shriram has increased its branch network , grown its employee and client base”.