Article In the four years since the insurance sector was opened up to private players, premium earned is not the only criterion to measure the benefits of liberalisation. From being a monopoly till 2000, three private life insurance companies-Birla Sun Life Insurance-entered the life insurance sector in 2000-01.In 2001-02, eight more players entered the sector, taking the number of...
Royal Sundaram Insurance Company, a non-life insurance joint venture between Sundaram Finance Ltd and international insurance group Royal & SunAlliance Plc, on Tuesday started operations in the city. The initial capital base of the company is Rs 1.01 billion. Royal & SunAlliance holds a 26 per cent stake in the company, while the rest is with Sundaram Finance and its...
Promising fast processing of vehicle insurance claims, Audatex, a division of the $8.5 billion ADP group of the U.S., on Tuesday introduced computerised online processing of passenger car claims for the Indian market. Insurance companies Bajaj Allianz and Tata AIG have already started using the web-based solution, while the company was in talks with New India Assurance, Oriental...
European banking and financial services major BNP Paribas is to pick up 49.9% stake in Sundaram Asset Management (Sundaram AMC) for Rs 100.4 crore from Sundaram Finance (SF). The joint venture would be named `Sundaram BNP Paribas Asset Management'' and the transaction is expected to be completed in the first quarter of `06. The foreign company has paid a price of about 7% of the...
Buoyed by the increasing demand from the motor, property, fire and health insurance products, non-life insurance company Royal Sundaram Alliance Insurance Ltd is looking at a healthy growth of around 40% during the current fiscal as against 28% during 2004 fiscal. The company, which has underwritten Rs 335 crore worth premium during 2004 fiscal, is targeting Rs 475 crore worth...
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