"The main focus for the coming years will include the recruitment of the manpower and opening of branches," said Aggarwal
Shriram will offer personal insurance products such as motor, personal accident, home and travel along with commercial ones such as property, marine and engineering to bank's customers
KKR's investment builds on strong tailwinds in the Indian general insurance space and SGI's continued expansion into new segments and investment in its digital capabilities
Shriram Group is expecting around Rs 750 crore profit this fiscal, up from Rs 700 crore last year, as its expects gross written premium income to touch Rs 2,200-2,300 crore this year
Private insurance companies received a premium of around Rs 46 crore in the last two years from railway and its passengers while making a payout of only Rs seven crore in claims under the national transporter's travel insurance scheme, an RTI has found. IRCTC, which is a wholly owned undertaking of the Ministry of Railways, has entered into an agreement with three private insurance companies through limited tender - Shriram General Insurance Company Ltd, ICICI Lombard General Insurance Company Ltd and Royal Sundaram General Insurance Company Ltd for its Optional Travel Insurance Scheme which was launched in September 2016 with a premium of Rs 0.92 per passenger. This facility is for confirmed/RAC railway passengers who booked e-ticket through the official website of Indian Railway Catering & Tourism Corporation (IRCTC). Under the scheme, a sum assured is paid to the victim/family or legal heir of the victim as the case may be in case of death/injury of reserved passengers due to ..
GWP growth continues to be susceptible to improvement in general economic activity
Irdai also warned the company for marketing group insurance policies that deviated from the filed product