Ageas signs agreement to acquire a 40% stake in Indian Non-Life insurer RSGI - Seite 2

Commenting on the agreement, T T Srinivasaraghavan, Managing Director of SFL said: "Over the past 18 years, Royal Sundaram has built a sterling reputation in the market for its customer service excellence, notably in claims management. The Company has demonstrated strong growth in its chosen segments and is witnessing a rapid growth in its profitability. For the next phase of growth, we are delighted to be partnering with Ageas, whose global experience, including several Asian countries, will be an asset. Ageas is unique in its approach of working through local partnerships and joint ventures across Asia and we believe this can create significant value for Royal Sundaram."

Ageas is a listed international insurance Group with a heritage spanning 190 years. It offers Retail and Business customers Life and Non-Life insurance products designed to suit their specific needs, today and tomorrow. As one of Europe's larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up the major part of the global insurance market. It operates successful insurance businesses in Belgium, the UK, Luxembourg, France, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines through a combination of wholly owned subsidiaries and long term partnerships with strong financial institutions and key distributors. Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of over 50,000 people and reported annual inflows close to EUR 34 billion in 2017 (all figures at 100%).

Royal Sundaram General Insurance Co. Ltd. is a subsidiary of Sundaram Finance, a leading financial services provider based in Chennai, Southern India. Sundaram Finance is a listed company with a market capitalisation of EUR 1.9 billion that offers services including general insurance, financing, mutual funds, business process outsourcing ("BPO"), IT services and retail distribution. Royal Sundaram General Insurance Co Ltd. is India's 1^st privately owned general insurance company (licensed in 2000) and currently holds the 9^th position in that market segment (ex-standalone health insurers) offering innovative general insurance solutions to individuals, families and businesses directly as well as through its intermediaries and affinity partners. The company offers Motor, Health, Personal Accident, Home & Travel Insurance to individual customers and offers specialised insurance products in Fire, Marine, Engineering, Liability & Business Interruption risks to commercial customers. Royal Sundaram also offers specially designed products to the small & medium enterprises and rural customers as well.