About Royal Sundaram General Insurance Co. Limited
Royal Sundaram General Insurance Co. Limited (formerly known as Royal Sundaram Alliance Insurance Company Limited), is the first private sector general insurance company in India to be licensed in October 2000 by the Insurance Regulatory and Development Authority of India. The company was initially promoted as a joint venture by Sundaram Finance, one of the most respected non-banking financial institutions (NBFCs) in India and other Indian Shareholders.
In February 2019, Ageas Insurance International N.V. acquired 40% equity stake in Royal Sundaram from the existing Indian Shareholders after necessary Regulatory approvals. Consequent to this divestment, the stake of Sundaram Finance in our company is currently at 50%, Ageas Insurance holds 40% and the other Indian shareholders hold the remaining 10%.
Royal Sundaram has been providing innovative general insurance solutions to individuals, families and businesses directly as well as through its intermediaries and affinity partners. The company offers Motor, Health, Personal Accident, Home and Travel Insurance to individual customers and offers specialized insurance products in fire, marine, engineering, liability and business interruption risks to commercial customers. Royal Sundaram also offers specially designed products to the small and medium enterprises and rural customers as well. The company is a pioneer in bancassurance in India, having long-standing tie-ups with reputed banks and NBFCs.
Royal Sundaram has over 2000 employees with 156 branches across India and its products are distributed through various channels-agents, distribution partners, affinity partners, brokers and online.
Some of the other achievements are
The first private insurer to tie up with banks (affinity partners) for selling retail products and also to offer co-branded credit cards
The first insurer to introduce cashless mode of settlement for health claims
The first private insurer to introduce innovative health products like Hospital Cash
The first insurer to introduce in-house Motor Assessors (IMAs)
Sundaram Finance, a Non-Banking Finance Company, is one of the most respected financial services companies in India. It finances the entire range of commercial vehicles, passenger cars, construction equipment & tractors.
The Group's operations also extend to Insurance, Asset Management, Home loans, Business Process outsourcing and Infotech Solutions. Sundaram Finance has a nationwide presence with over 500 branches and over half a million customers and depositors who are serviced by over 2500 employees. Sundaram Direct, its retail distribution arm offers multiple choices of various financial products like, loans, life & general insurance, mutual funds, deposits etc., to its customers through out India.
Board Of Directors
In the news
What Irdai proposals on health insurance mean for you
The Economic Times - 21 November, 2018
Know more: Fixed benefits plans
Hindustan Times - 20 November, 2018
No Cover Yet for HIV patients
Hindustan Times - 23 October, 2018
Cover for mental ailments still 6 months away
The Hindu Business Line - 11 October, 2018
Royal Sundaram Launches 'Family Plus- The 5G Health Insurance Plan'
24 April, 2018
Highly customisable health insurance plan covering upto 19 members in a family with individual sum insured ...