Star Union Dai-ichi Life Insurance Company Limited (SUD Life) has reported a standout performance for the financial year 2024-25 by recording an impressive 29% growth in the New Business Premium (Company Total) in 2024-25 over the previous year which exceeded the industry growth. The impressive results reflect the company’s successful strategy of expanding its customer base, deepening distribution networks, and embracing digital transformation, all while keeping customer-centricity at its core.
The company’s retail business grew by 8%, from ₹1,501 crore in FY24 to ₹1,620 crore in FY25, supported by a strong performance in the Banca channel and an exceptional 68% growth in alternate channels, highlighting SUD Life’s expanding reach.
Renewal premium collections rose by 17%, climbing to ₹3,964 crore from ₹3,401 crore, indicating continued customer confidence and high policy persistency. The Group Business line saw a remarkable 49% increase, rising from ₹1,749 crore to ₹2,602 crore, strengthened by deeper relationships with institutional clients.
In terms of financial management, Assets Under Management (AUM) surged by 25%, growing from ₹24,761 crore to ₹31,069 crore, further reinforcing SUD Life’s commitment to delivering sustainable long-term value for its policyholders.
The company also achieved major milestones in its distribution strategy, with its agent base expanding from 1,500 to 3,500. In addition, SUD Life increased its reach through strengthened broker partnerships and collaborations with new-age digital platforms, broadening its customer access across India.
SUD Life stayed ahead of the curve by enhancing its digital capabilities and customer service standards, achieving a Claim Settlement Ratio of 98.84% for Individual Claims, 98% for Group Claims and 99.22 % for Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY) Claims. The average claim settlement turnaround time was reduced to just 3.5 days, a powerful testament to the company’s operational excellence and customer-first approach.
Abhay Tewari, MD & CEO, Star Union Dai-ichi Life Insurance Company Ltd, said: “FY 2024-25 marked a significant leap forward for SUD Life. With accelerated digital adoption and a deep-rooted commitment to service excellence, we are proud to be a life insurer that truly partners with individuals, families, and institutions to secure their financial future.”
SUD Life’s exceptional performance lays a strong foundation for its continued journey of innovation, inclusion, and impact in the Indian life insurance sector.
