Shriram General Insurance and Piramal
Finance Join Hands for Strategic Partnership
Aims to strengthen financial protection
and insurance accessibility across India
National, May 25, 2026: Shriram
General Insurance (SGI) today announced a strategic corporate agency
partnership with Piramal Finance, a leading retail-focused upper-layer NBFC in
India, to improve access to insurance solutions, particularly across semi-urban
and rural markets.
Photo Capition-
From Left to Right : Mr. Ashish Goyal –President – Corporate and Broking Vertical, Mrs.Mona Mathur – Chief Financial Officer, SGI , Mr.Aftab Alvi – Executive Director & Chief Marketing Officer , SGI,
Mr. Syed Imtiaz Ahmed - Chief Business Officer - Retail Lending, Piramal Finance Limited, Mr. Sreenivasan S.R - Head - TPP, Fee and Distribution Enablement, Piramal Finance.
Under the partnership, SGI will
leverage Piramal Finance’s extensive branch network and customer outreach to
offer its wide range of insurance products across 701 branches of Piramal
Finance spanning 26 states and over 13,000 pin codes.
The partnership reflects the shared
commitment of both organisations to make insurance solutions more
accessible and meaningful for customers, helping them safeguard their
assets, livelihoods and long-term financial well-being. By
combining Shriram General Insurance’s long-standing industry experience,
customer-centric approach, and the trust it has built over the years with
Piramal Finance’s innovative ‘High Tech + High Touch’ approach, the partnership
aims to create seamless and convenient access to protection solutions across
diverse geographies.
Speaking on the partnership, Mr. Jairam
Sridharan, MD & CEO, Piramal Finance Limited, said:
“We
are pleased to partner with Shriram General Insurance to expand
the reach of insurance solutions across our customer base, particularly in
semi-urban and rural markets. Insurance penetration remains low
across many parts of India, especially in smaller towns and there is a need for
simpler and more inclusive protection solutions. For many of our
customers, a single unexpected event can set a family back significantly.
Insurance is therefore not just a product, but a way to protect what they
worked hard to build.
Through this partnership,
we hope to bring insurance products closer to
customers through our extensive branch network and on-ground presence, in a way
that is simple, trusted and accessible. As a company,
we see this as an extension of our responsibility to stand by our customers,
helping them not just grow but stay protected.”
Mr. Aftab Alvi, Executive Director
and CMO, Shriram General Insurance Company, said:
“We are delighted to partner with
Piramal Finance to further strengthen our distribution capabilities and expand
access to comprehensive insurance solutions across a broader customer base.
This collaboration brings together our customer-centric offerings and Piramal
Finance’s extensive reach and customer ecosystem, enabling us to enhance
insurance accessibility, particularly across underserved and emerging markets
where insurance penetration remains low. We believe this
partnership will play a meaningful role in deepening financial protection,
driving greater awareness, and delivering enhanced value to customers. It also
reinforces our continued commitment towards building strong strategic alliances
that support sustainable growth and wider insurance inclusion.”
About Piramal Finance Limited:
Piramal Finance Limited is a
retail-led upper-layer NBFC with a pan-India presence, having served
over 5 million customers across 26 states. The company manages Assets
Under Management (AUM) of over ₹1,00,000 Cr and operates a
distinctive phygital model combining high-touch engagement across 13,000+ pin
codes with high-tech capabilities including machine learning models, agentic
AI tools and real-time dashboards.
In retail lending, Piramal Finance
offers a diversified portfolio
spanning affordable housing loans, loan against property, gold
loans, microfinance, used car loan, personal loans,
insurance solutions, and small business credit, with a strong presence across
metro-adjacent, semi-urban, and rural markets. In wholesale lending, the
company provides asset-backed, data-driven financing solutions across real
estate and select non-real estate sectors, with a focus on mid-income
residential development and bespoke capital solutions for mid-market
corporates.
With its digital-first approach and
AI-enabled platforms, Piramal Finance is committed to expanding access to
affordable credit and driving inclusive growth across India.
About Shriram General Insurance
Company Limited:
Shriram General Insurance Company
(SGIC), jointly owned by Shriram Group and Sanlam Group, South Africa, offers a
complete range of general insurance products, ranging from motor, home,
personal accidents, and health in the retail space and customized products like
fire, engineering, and marine insurance for corporate customers. Shriram
General Insurance manages assets worth ₹14252 Cr across with 69 lakh live
policies. The company operates 289 branches with an employee strength
of 4293 across India, as of March 2026.
