Star Union Dai-ichi Life Insurance coverage Firm Restricted (SUD Life) has reported a standout efficiency for the monetary yr 2024-25 by recording a powerful 29% progress within the New Enterprise Premium (Firm Whole) in 2024-25 over the earlier yr which exceeded the trade progress. The spectacular outcomes mirror the corporate’s profitable technique of increasing its buyer base, deepening distribution networks, and embracing digital transformation, all whereas preserving customer-centricity at its core.
The corporate’s retail enterprise grew by 8%, from ₹1,501 crore in FY24 to ₹1,620 crore in FY25, supported by a powerful efficiency within the Banca channel and an distinctive 68% progress in alternate channels, highlighting SUD Life’s increasing attain.
Renewal premium collections rose by 17%, climbing to ₹3,964 crore from ₹3,401 crore, indicating continued buyer confidence and excessive coverage persistency. The Group Enterprise line noticed a exceptional 49% improve, rising from ₹1,749 crore to ₹2,602 crore, strengthened by deeper relationships with institutional purchasers.
When it comes to monetary administration, Property Underneath Administration (AUM) surged by 25%, rising from ₹24,761 crore to ₹31,069 crore, additional reinforcing SUD Life’s dedication to delivering sustainable long-term worth for its policyholders.
The corporate additionally achieved main milestones in its distribution technique, with its agent base increasing from 1,500 to three,500. As well as, SUD Life elevated its attain by strengthened dealer partnerships and collaborations with new-age digital platforms, broadening its buyer entry throughout India.
SUD Life stayed forward of the curve by enhancing its digital capabilities and customer support requirements, attaining a Declare Settlement Ratio of 98.84% for Particular person Claims, 98% for Group Claims and 99.22 % for Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY) Claims. The common declare settlement turnaround time was decreased to only 3.5 days, a strong testomony to the corporate’s operational excellence and customer-first strategy.
Abhay Tewari, MD & CEO, Star Union Dai-ichi Life Insurance coverage Firm Ltd, stated: “FY 2024-25 marked a big leap ahead for SUD Life. With accelerated digital adoption and a deep-rooted dedication to service excellence, we’re proud to be a life insurer that really companions with people, households, and establishments to safe their monetary future.”
SUD Life’s distinctive efficiency lays a powerful basis for its continued journey of innovation, inclusion, and impression within the Indian life insurance coverage sector.
About Star Union Dai-ichi Life Insurance coverage
Star Union Dai-ichi Life Insurance coverage (SUD Life), based in 2009, is a strong collaboration between two of India’s main public sector banks, Financial institution of India and Union Financial institution of India, and Dai-ichi Life, Japan’s second-largest life insurer. Constructed on a powerful basis of belief and experience, SUD Life serves over 15 million prospects(as of 31st March 2025) by a powerful community of over 20,000 distribution contact factors, providing revolutionary and customer-centric options.
Star Union Dai-ichi Life Insurance coverage Firm Restricted | IRDAI Regn. No: 142
CIN: U66010MH2007PLC174472 | Registered Workplace: eleventh Ground, Vishwaroop I.T. Park, Plot No. 34, 35 & 38, Sector 30A of IIP, Vashi, Navi Mumbai – 400 703 | 1800 266 8833 (Toll Free) | Timing: 9:00 am – 7:00 pm (Mon – Sat) | E-mail ID: customercare@sudlife.in | Go to: www.sudlife.in | Commerce-logo displayed belongs to M/s Financial institution of India, M/s Union Financial institution of India and M/s Dai-ichi Life Worldwide Holdings LLC and are being utilized by Star Union Dai-ichi Life Insurance coverage Co. Ltd. underneath license. SUD-NWSP-05-25-4007
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