Royal Sundaram General Insurance Co. Ltd (originally known as Royal Sundaram Alliance Insurance Business Limited) was the first private enterprise general insurance company in the country to be approved by the Insurance Regulatory development of India in October 2000. Sundaram Finance, one of India's most famous non-banking financial institutions (NBFC), and other Indian shareholders initially touted the firm as a joint venture.
After obtaining the relevant regulatory clearances, Ageas Insurance International N.V. purchased a 40% ownership investment in Royal Sundaram from the current Indian shareholders in February 2019. As a result of this transaction, Sundaram Finance now owns 50% of our firm, Ageas Insurance owns 40%, and the remaining Indian stockholders own 10%.
Royal Sundaram offers customized general insurance solutions to consumers, families, and corporations both directly and through intermediaries and associate partners. Individual consumers can avail Motor, Health, Personal Accident, Home, and Travel Insurance, whereas commercial customers can purchase specialist insurance products for fire, marine, engineering, liability, and business interruption risks. Royal Sundaram also provides particularly tailored goods to small and medium-sized businesses, as well as rural clients. The organization is a pioneer in Indian bancassurance, with long-standing relationships with reputable banks and NBFCs.
Royal Sundaram employs approximately 2000 people and has 158 offices across India. Its goods are supplied through various channels, including agents, distribution partners, associate partners, brokers, and online.