Shriram Life Insurance Partners with JM Financial Services to Broaden Insurance Access
Shriram Life Insurance has announced a strategic partnership with JM Financial Services to improve access to life insurance for JM Financial’s clients and equity stakeholders.
This collaboration will allow Shriram Life to offer its range of products, helping customers easily explore and access insurance plans, securing themselves and their families through both digital and offline channels.
Speaking about the partnership, Casparus J.H. Kromhout, MD & CEO, Shriram Life Insurance, said, “Ensuring financial security for individuals across all segments of society remains at the core of our purpose. This collaboration with JM Financial Services allows us to broaden our reach, offering tailored protection solutions through a seamless and convenient platform. We are committed to simplifying access to life insurance, empowering customers with robust financial protection, and equipping them with the right tools to secure their future.”
Nirav Gandhi, Managing Director and Co-Head, Investment Advisory and Distribution, at JM Financial Services added, “We are delighted to partner with Shriram Life Insurance, a stalwart in the industry. Our collaboration enables us to combine our expertise in trading and investments with Shriram Life Insurance’s trusted offerings, ensuring that we provide solutions like tax-free guaranteed income solutions, long-term investment, retirement/pension plans, and family protection. We believe this partnership will capitalize on the strengths of both our organizations, and together, we are committed to empowering individuals and families with the financial security and peace of mind they deserve.”
Shriram Life Insurance, a well-established name in the industry, has a strong presence across India with 403 branches. The company provides a variety of products including term, endowment, ULIPs, and annuities, catering to both rural and urban customers with affordable premiums. The average ticket size for non-single individual premium policies is approximately ₹18,000, while individual policies typically have an average ticket size of around ₹21,000. As of December 2024, Shriram Life’s total Assets Under Management (AUM) amount to ₹12,791 crore. It has an in-force policyholder base of over 13 lakh.
JM Financial Services (JMFS), a part of the JM Financial Group, is an award-winning full-service stock broking firm catering to individual and institutional investors. Their range of products includes equity trading, wealth management, and the distribution of other investment products such as insurance, mutual funds, portfolio management services/alternative investment funds, IPOs, and fixed income products. They have a wide network of over 55 branches and over 860 business affiliates.
