KKR has acquired a minority stake in Shriram General Insurance Co., a general insurance company backed by Indian financial services conglomerate Shriram Group and African financial services group Sanlam.
Shriram General Insurance was founded in 2008 as a joint venture between Shriram Capital and Sanlam Ltd. The firm focuses on a customer-centric approach to business with a concentration on homegrown talent while maximizing technology. The investment follows KKR’s track record and experience investing within India’s financial services sector.
“Shriram General Insurance has been one of the standout performers in India’s fast-growing general insurance industry, and continues to build on their record by developing new capabilities, channels, and products to meet the growing needs of Indian consumers,” stated Gaurav Trehan, partner and CEO of KKR India. “We are truly excited to work with the Shriram Group and SGI’s high-quality management team to achieve their vision of serving their customers, and look forward to sharing our experience to take the company to new heights.”