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South African insurer Sanlam Group will acquire majority stakes in two insurance joint ventures with Shriram Group to enhance the company’s geographic diversification and penetrate the fast-growing Indian insurance market.
Shriram Life Insurance Company reports a net profit of Rs 50 crore for Q3FY24, a 60% increase compared to the previous year. Read more about the company's performance and growth in the latest quarter.
Deal is subject to conditions, including securing approvals from SA’s competition authorities.
Get latest articles and stories on Latest News at LatestLY. Shriram General Insurance reported a 51 per cent growth in net profit to Rs 117 crore for the December quarter on higher premium income, market gains, and better claims management. Latest News | Shriram General Insurance Net Profit Jumps 51 Pc to Rs 117 Cr in Q3.
The Shriram Group is one of the largest and well-respected financial services conglomerates. Its main line of activities in financial services includes truck financing, consumer durable financing, stock broking, insurance broking, and life insurance, etc.