Royal Sundaram Insurance Company is a joint venture between Chennai based Sundaram Finance and Royal & Sun Alliance Insurance (RSA) Group of UK. Sundaram Finance holds 74% and UK based RSA holds the remaining 26% in the company. Now Sundaram Finance has taken over the 26% stake from RSA and Royal Sundaram will become a 100 percent subsidiary of Sundaram Finance and its associates.
RSA is the first private sector general insurance company in India to be licensed since 2001. It offers Motor, Health, Personal Accident, Home and Travel Insurance to individual customers. Currently, it has over 5 million customers, over 1700 employees and its products are distributed in over 180 cities across India, through Agents, Distribution Partners, Affinity Partners and Brokers.
RSA to become 100% subsidiary of Sundaram with 26% hike in stake holding
Last Updated: Jul 30, 2015 | 325 Views