Shriram General Insurance plans to add about 10,500 advisers in H2 FY27 as India's insurance regulator considers caps on commissions for selected new-vehicle motor insurance covers.
For April-September, the insurer's gross direct premium totaled ₹2,470.41 crore, up from ₹2,045.46 crore a year earlier, according to its H1 FY27 release. The general insurance industry grew 8.86%. Shriram General's motor premiums rose 21% to ₹2,269 crore from ₹1,869 crore, compared with industry growth of 13.15%.
The insurer had 113,717 financial advisers at the end of September, following the addition of 9,802 in the first half, the release said. In an interview with Mint, Managing Director and Chief Executive Anil Aggarwal described plans to expand that network by roughly 10,500 advisers in the second half of FY27 and develop one or two more vehicle-maker partnerships. Aggarwal said any changes to the hiring plan would depend on the regulator's final rules, Mint reported.
The Insurance Regulatory and Development Authority of India (IRDAI) set out the proposed commission limits in a September consultation paper. For third-party cover on new vehicles, it proposes zero commission for distribution entities and a cap of 2.5% for agents and associates. For own-damage, personal-accident and legal-liability covers on new vehicles, the proposed caps are 5% for distribution entities and 10% for agents and associates.
The paper also proposes lowering general insurers' expense-of-management limits to 25% within two years and 20% within five years. The commission and expense limits remain proposals, not final rules. On the possible changes, Aggarwal told Mint, “We will follow the regulation.”
Mint reported that Shriram General's first-half vehicle-maker tie-ups included TVS Motor, Tata Motors, Bharat Benz and Mahindra & Mahindra. The outlet also reported that motor insurance service providers, a dealer channel, generated ₹6.23 crore in premiums in April-June, up from ₹3.44 crore a year earlier. That was about 0.5% of the insurer's ₹1,179.82 crore in quarterly premiums. Mint noted that broker premiums also include some vehicle-maker broking arms.
A separate IRDAI circular sets a four-layer structure for private-car and two-wheeler policies issued from Dec. 15, 2026. The layers cover third-party liability, legal liability to occupants or pillion riders, personal-accident cover and damage to the insured vehicle; the circular identifies mandatory and optional sections.
