Friday, April 20, 2018

Royal Sundaram aims to raise US$100m

Royal Sundaram General Insurance, the insurance business of financial services group Sundaram Finance, is reportedly looking to raise equity capital of up to US$100 million.

Royal Sundaram presently offers motor, health, personal accident, home and travel insurance to individual customers.

It also offers specialised insurance products in fire, marine, engineering, liability and business interruption risks to commercial customers.

In addition, Royal Sundaram also sells products designed specifically for small and medium-sized enterprises and rural customers.

Investment bank JM Financial is said to have been appointed to advise the insurer on the fund-raising.

It has started reaching out to relevant parties such as private equity investors and others.

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