Global investment firm nabs 9.99% stake in Shriram General Insurance
Shriram General plans to benefit from its global insurance expertise.
Global investment firm KKR has acquired a 9.99% stake in India-headquartered Shriram General Insurance subject to regulatory approval.
Founded in 2008, Shriram General Insurance is a joint venture between Shriram Capital, the holding company for Shriram Group’s financial services business, and Sanlam Limited, a pan-African financial services group.
This will be KKR’s third investment in an Indian insurance investment. The firm previously invested in SBI Life Insurance and Max Life Insurance.
You may also like:
No man left behind: How insurtech is solving the underinsurance mess
Japanese non-life insurers suspends contracts for firms operating in Russia
Quarantine insurance revived amidst rising COVID-19 cases in China