Shriram Capital Chairman, Arun Duggal has been appointed as an independent non-executive director to the Boards of Sanlam Ltd and Sanlam Life Insurance Ltd, South Africa with effect from January 15, 2013. Sanlam recently committed investment to the tune of around Rs 2,000 crore in Shriram Capital.
Sanlam is also Partner for the Rs 60,000-crore Shriram Group in Shriram Life Insurance Company and Shriram General Insurance Company.
Shriram Group and Sanlam have been able to bring their respective strengths, such as Shriram Group’s client base, local knowledge and deep understanding of financial services in India and Sanlam’s knowledge and expertise in the insurance sector to serve the customer base in India.
Johan Van Zyl, Sanlam Group's chief executive, commented that he is looking forward to tapping Duggal's vast experience in the financial services sector internationally.