Shriram General Insurance Company plans re-entry in crop business

A month after South African financial services group Sanlam increased its stake in Shriram General Insurance Company (SGIC), SGIC said it is in the process of diversifying its product basket.

SGIC is all set to re-enter the crop business and also expand its presence in the non-motor segment to 15 per cent.

At present, the share of its motor business is around 91.5 per cent and non-motor contributes the remaining 8.5 per cent. It plans to increase the share of non-motor business to 15 per cent by 2026-27. 

“We want to go back to the crop business also, if it