Shriram General Insurance Company
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Shriram General Insurance Company Limited which started up with a mere capital of Rs 105 crores, is a joint venture between Shriram Capital Limited and Sanlam limited of South Africa and it deals with general insurance products and services for its customers and clients. Shriram General Insurance Company is very much an integral part of Shriram Group which is one of the most active players in financial sector offering diversified services and is known as one of the best corporate conglomerate in India, which was founded in the year 1974.
Belleville-based financial services group Sanlam Limited of South Africa was established in the year 1918 and got listed in the Johannesburg and Namibian Stock Exchange after its demutualization in 1998. The group has been rated as the best insurance company of South Africa by Pricewaterhouse Coopers. Sanlam Limited was engaged in the business of general insurance, life insurance, investments and independent financial services; which accentuated to its market capitalization as approximately USD 6 billion, having over USD 60 billion of assets under management. Of this venture, 74% of equity is held by Shriram Capital Limited whereas; Sanlam Limited holds the balance 26% of the equity. Shriram Group, having a turnover of USD 8 billion was established in 1974 in India and since then has proved to be a major player in the field of Indian financial services sector. The company is focused at providing financial services that would reach out to a wide number of common people, allowing them to fulfill their financial prospects and provide them with opportunities to meet their financial prospects. With 5 million customers, 80, 000 agents/associates, 30,000 employees and 1300 branches spread all over the country, Shriram Group has carved its own niche and set its own landmark in achieving endless success.
With Shriram Group being a clear leader in the truck financial and chit business, financial services constitute the core business of the Group. The group has successfully diversified into other business arenas like commercial vehicle financing, consumer finance, chit fund business and adding to this variety are business developments in the domains of project engineering, property development, auto ancillaries and software services and so on. Among its various products, it provides motor insurance, fire insurance, engineering insurance, householder’s insurance, and shopkeeper’s insurance and personal accident insurance. To conclude with, Shriram General Insurance Company is doing its best rounds in the market providing the most apt insurance services according to the clients’ requirements.