Latest News on Royal Sundaram
Royal Sundaram Marks 25 Years of Trust, Care, and Innovation in Insurance | Bizz Impact
Royal Sundaram General Insurance Co. Limited is celebrating 25 years of serving customers in India. As the country’s first private sector general insurer, the company has come a long way since its inception in 2000. With a commitment to simplifying insurance and making it more accessible, Royal Sundaram has introduced several industry-first initiatives and pioneered bancassurance partnerships. The company has protected over 2 crore customers across various segments, including motor, health, travel, home, and commercial insurance.
Royal Sundaram’s journey is built on a promise to stand by customers when they need protection the most. The company’s values are rooted in trust, simplicity, care, and digital convenience with a human touch. With the backing of the Sundaram Finance Group and Ageas’s global expertise, Royal Sundaram has established itself as a trusted name in the insurance industry.
The company’s leadership has expressed pride and commitment to continuing to support customers and policyholders. Mr. Harsha Viji, Vice Chairman of Sundaram Finance, highlighted the importance of trust, transparency, and long-term relationships in Royal Sundaram’s journey. Mr. Filip Coremans, Managing Director (Asia) of Ageas Group, praised the company’s consistent innovation and adaptation to customer needs. Mr. Vedanarayanan Seshadri, Managing Director of Royal Sundaram, acknowledged the trust placed in the company by customers, partners, and employees and outlined the company’s focus on delivering customer-centric solutions powered by digital transformation and a human touch.
As Royal Sundaram looks ahead, the company plans to deepen its presence in retail and commercial segments, create more phygital experiences, leverage AI and advanced analytics for personalized protection, and strengthen ESG initiatives. With a comprehensive portfolio of insurance products and a legacy of 25 years, Royal Sundaram continues to redefine protection for the modern era. The company’s commitment to making insurance simple, accessible, and reliable has earned it a reputation as one of India’s leading general insurance companies.
Royal Sundaram Marks 25 Years of Trust, Care, and Innovation in Insurance
Royal Sundaram General Insurance Co. Limited, India’s first private sector general insurer, is celebrating 25 years of serving customers with protection, care, and innovation. From its inception in 2000 to becoming a trusted name for millions across the country, Royal Sundaram’s journey reflects a consistent commitment to simplifying insurance and making it more accessible. Over the years, the company has introduced several industry-first initiatives, pioneered bancassurance partnerships, and strengthened claims processes with speed and empathy.
Royal Sundaram has protected over 2 crore customers across various insurance segments, including motor, health, travel, home, and commercial insurance. The company’s promise to its customers is to stand by them when they need protection the most. Royal Sundaram’s values are rooted in trust, simplicity, care, and digital convenience with a human touch. The company is backed by the Sundaram Finance Group’s values and Ageas’s global expertise, making it a preferred insurer for millions of Indians.
The company’s leadership, including Mr. Harsha Viji, Vice Chairman of Sundaram Finance, Mr. Filip Coremans, Managing Director (Asia) of Ageas Group, and Mr. Vedanarayanan Seshadri, Managing Director of Royal Sundaram, have expressed their pride and commitment to continuing to support customers and policyholders with their insurance needs. As Royal Sundaram looks ahead, its focus will be on deepening its presence in retail and commercial segments, creating more phygital experiences, leveraging AI and advanced analytics for personalized protection, and strengthening ESG initiatives.
Royal Sundaram’s comprehensive portfolio spans various insurance segments, and its vision is to make insurance simple, accessible, and reliable. The company continues to redefine protection for the modern era, guided by its values of trust, transparency, and long-term relationships. With 25 years of experience, Royal Sundaram is well-positioned to continue serving its customers with innovation, reliability, and care. The company’s milestone celebration is a testament to the trust its customers, partners, and employees have placed in it, and it looks forward to continuing its mission of delivering protection and peace of mind to customers.
Royal Sundaram Marks 25 Years of Trust, Care, and Innovation in Insurance | Bizz Impact
Royal Sundaram General Insurance Co. Limited, India’s first private sector general insurer, is celebrating its 25th anniversary of serving customers with protection, care, and innovation. Since its inception in 2000, the company has come a long way, introducing industry-first initiatives, pioneering bancassurance partnerships, and strengthening claims processes with speed and empathy. Royal Sundaram has protected over 2 crore customers across various segments, including motor, health, travel, home, and commercial insurance.
The company’s success can be attributed to its commitment to simplifying insurance and making it more accessible. It has introduced digital-first platforms to make customer interactions seamless and has designed transparent products to safeguard what matters most to its customers. Royal Sundaram’s promise is to stand by its customers when they need protection the most, and its values of trust, transparency, and long-term relationships have made it a preferred insurer for millions of Indians.
The company’s leadership, including Mr. Harsha Viji, Vice Chairman of Sundaram Finance, and Mr. Filip Coremans, Managing Director (Asia) of Ageas Group, have expressed their pride and commitment to continuing to support customers and policyholders with their insurance needs. Mr. Vedanarayanan Seshadri, Managing Director of Royal Sundaram, has acknowledged the trust placed in the company by its customers, partners, and employees and has outlined the company’s focus on delivering customer-centric solutions powered by digital transformation and a human touch.
As Royal Sundaram looks ahead, it plans to deepen its presence in retail and commercial segments, create more phygital experiences, leverage AI and advanced analytics for personalized protection, and strengthen ESG initiatives that deliver lasting impact for communities and the environment. With a comprehensive portfolio spanning motor, health, personal accident, travel, home, and commercial insurance, Royal Sundaram continues to redefine protection for the modern era. The company’s legacy of 25 years is a testament to its commitment to making insurance simple, accessible, and reliable.
Royal Sundaram’s journey is a significant milestone in the Indian insurance industry, and its achievements are a reflection of its dedication to its customers and stakeholders. The company’s vision to make insurance simple, accessible, and reliable has guided its actions over the years, and it continues to be a trusted name in the industry. As the company celebrates its 25th anniversary, it is well-positioned to continue its growth trajectory and make a lasting impact in the Indian insurance market.
Royal Sundaram Marks 25 Years of Trust, Care, and Innovation in Insurance
Royal Sundaram, a leading insurance company, has reached a milestone of 25 years in the industry. Since its inception, the company has been dedicated to providing innovative and customer-centric insurance solutions. With a strong foundation built on trust, care, and innovation, Royal Sundaram has established itself as a reputable and reliable insurance provider.
Over the past 25 years, Royal Sundaram has consistently strived to improve and expand its services, introducing new and innovative products to meet the evolving needs of its customers. The company’s commitment to excellence has enabled it to build a loyal customer base and establish strong partnerships with various stakeholders.
One of the key factors that have contributed to Royal Sundaram’s success is its focus on customer care. The company has always prioritized its customers’ needs, providing them with personalized support and guidance throughout the insurance process. This approach has helped Royal Sundaram build trust with its customers, who have come to rely on the company for their insurance needs.
Innovation has also been a key driver of Royal Sundaram’s growth. The company has consistently invested in new technologies and processes, enabling it to stay ahead of the curve and provide its customers with cutting-edge insurance solutions. From introducing new products to enhancing its digital platform, Royal Sundaram has always been at the forefront of innovation in the insurance industry.
As Royal Sundaram celebrates its 25th anniversary, it can look back on a quarter century of achievements and milestones. The company has come a long way since its inception, and its commitment to trust, care, and innovation has been the driving force behind its success. With a strong foundation in place, Royal Sundaram is well-positioned to continue growing and evolving, providing its customers with the best possible insurance solutions for years to come.
Royal Sundaram’s 25th anniversary is a testament to the company’s dedication and perseverance. It has navigated the challenges of the insurance industry with ease, always keeping its customers’ needs at the forefront. As the company looks to the future, it is clear that Royal Sundaram will continue to be a leading player in the insurance industry, driven by its core values of trust, care, and innovation. With its strong reputation and commitment to excellence, Royal Sundaram is poised to continue providing innovative and customer-centric insurance solutions for many years to come.
Royal Sundaram Celebrates 25 Years of Trust, Care & Innovation in Insurance
Royal Sundaram General Insurance Co. Limited, India’s first private sector general insurer, is celebrating its 25th anniversary of providing insurance services to its customers. The company was licensed in 2000 and has since become a trusted name in the industry, known for its commitment to simplifying insurance and making it more accessible. Over the years, Royal Sundaram has introduced several industry-first initiatives, including bancassurance partnerships and digital-first platforms, to make customer interactions seamless.
The company has protected over 2 crore customers across various insurance segments, including motor, health, travel, home, and commercial insurance. Royal Sundaram’s leadership, including Vice Chairman Harsha Viji, Managing Director Filip Coremans, and Managing Director Vedanarayanan Seshadri, have expressed their pride and commitment to continuing to support customers and policyholders with their insurance needs.
The company’s 25-year journey is a testament to its values of trust, transparency, and long-term relationships. Royal Sundaram has consistently innovated and adapted to customer needs, and its partnership with Ageas Group has been instrumental in its growth. As the company looks ahead, it plans to deepen its presence in retail and commercial segments, create more phygital experiences that blend personal trust with digital convenience, and leverage AI and advanced analytics for personalized protection.
Royal Sundaram’s vision is to make insurance simple, accessible, and reliable, and it continues to redefine protection for the modern era. The company’s comprehensive portfolio spans various insurance segments, and it is guided by a commitment to delivering customer-centric solutions powered by digital transformation and a human touch. With its strong legacy and commitment to innovation, Royal Sundaram is well-positioned to continue serving its customers and policyholders for many years to come.
The company’s leadership has acknowledged the pivotal role of the regulator in supporting the industry’s progress and enabling Royal Sundaram to serve its customers better. As the company celebrates its 25th anniversary, it is also focusing on strengthening its ESG initiatives to deliver lasting impact for the communities it serves and the environment. With its legacy of 25 years, Royal Sundaram is a leading general insurance company in India, and its commitment to innovation, reliability, and care has made it a preferred insurer for millions of Indians.
Stock Market Updates for Sundaram Finance
Recent Updates
Royal Sundaram appoints industry veteran Vedanarayanan Seshadri as Managing Director
Royal Sundaram General Insurance Co. Limited has announced the appointment of Vedanarayanan Seshadri as its new Managing Director, effective from May 28, 2025. Seshadri brings over 30 years of experience in the BFSI sector, with 15 years of senior leadership experience in the insurance domain. He has a strong background in insurance distribution, growth strategies, and leveraging digital transformation to enhance customer experiences.
Seshadri expressed his honor and commitment to leading Royal Sundaram, citing his dedication to the company’s core values, professionalism, and customer-oriented approach. He is optimistic about achieving significant growth by harnessing the strengths of the company’s dedicated team and the support of its board and stakeholders.
With a diverse academic background, including degrees in engineering, marketing, and finance, as well as an Advanced Management Programme from INSEAD, France, Seshadri possesses a comprehensive understanding of market dynamics and digital innovation. This positions him well to navigate Royal Sundaram through the evolving landscape of the insurance industry.
The appointment of Seshadri has been welcomed by Harsha Viji, Executive Vice-Chairman of Sundaram Finance, who expressed confidence in his capabilities. Viji highlighted Seshadri’s deep insight into insurance markets, customer preferences, and his proven leadership abilities, stating that his appointment will steer Royal Sundaram towards sustained growth in a digitally progressive market.
Overall, the appointment of Vedanarayanan Seshadri as Managing Director of Royal Sundaram General Insurance Co. Limited is seen as a positive move, bringing a wealth of experience and expertise to the company. With his strong background in insurance and digital transformation, Seshadri is well-placed to lead the company towards significant growth and success in the evolving insurance industry. His commitment to upholding the company’s core values and customer-oriented approach is expected to drive Royal Sundaram forward, leveraging the strengths of its dedicated team and the support of its stakeholders.
Royal Sundaram has appointed Vedanarayanan Seshadri as its new Managing Director.
Royal Sundaram General Insurance Company Limited has announced the appointment of Vedanarayanan Seshadri as its new Managing Director. Seshadri takes over the reins from M. S. Sreedhar, who has completed his tenure as the MD and CEO of the company.
Vedanarayanan Seshadri has over two decades of experience in the insurance industry and has held various leadership positions in his previous roles. Prior to joining Royal Sundaram, he was the Chief Distribution Officer at Tata AIG General Insurance Company.
Under his new role, Seshadri will be responsible for driving the company’s growth strategy, focusing on expanding its customer base, and strengthening its distribution network. He will also oversee the development of new products and services, as well as enhance the company’s digital capabilities.
Seshadri’s appointment is seen as a move to strengthen Royal Sundarium’s leadership team and drive business growth. The company has been focusing on expanding its presence in the Indian general insurance market, and Seshadri’s experience and expertise are expected to play a key role in achieving this goal.
Royal Sundaram is a leading general insurance company in India, offering a range of insurance products including motor, health, home, and travel insurance. The company has a strong distribution network and a customer base of over 2 million policyholders.
Seshadri’s appointment has been welcomed by the company’s promoters, who expressed confidence in his ability to lead the company to greater heights. The company’s Board of Directors has also hailed Seshadri’s appointment, stating that his experience and expertise will be invaluable in driving the company’s growth strategy.
As the new Managing Director, Seshadri will work closely with the company’s leadership team to drive business growth and expand its customer base. He will also focus on enhancing the company’s digital capabilities, developing new products and services, and strengthening its distribution network.
Overall, Vedanarayanan Seshadri’s appointment as the new Managing Director of Royal Sundaram General Insurance Company Limited is expected to drive business growth and expansion for the company. With his experience and expertise, Seshadri is well-equipped to lead the company to greater heights and strengthen its position in the Indian general insurance market.
Under the new leadership, Royal Sundaram aims to continue its growth trajectory, expanding its customer base and distribution network, while also enhancing its digital capabilities and developing new products and services. With Seshadri at the helm, the company is poised for greater success and growth in the Indian general insurance market.
Amit Ganorkar Appointed as Managing Director and Chief Executive Officer of TATA AIG
TATA AIG General Insurance Company has announced the appointment of Amit Ganorkar as its new Managing Director and Chief Executive Officer, effective January 1, 2025. Ganorkar succeeds Neelesh Garg, who is stepping down from the position. The appointment was approved by the board of directors and followed by the receipt of all necessary regulatory clearances.
Amit Ganorkar, a seasoned insurance professional with over 20 years of experience, has previously held key positions at TATA AIG, including Managing Director of Royal Sundaram General Insurance and Chief Operating Officer at TATA AIG. In his new role, Ganorkar is committed to continuing the company’s legacy of excellence, built on the trust and confidence of its customers and stakeholders.
Ganorkar has clear priorities for his tenure, including strengthening the company’s customer-centric approach, enhancing digital transformation, and driving sustainable growth to meet the evolving needs of its clients. His appointment marks a transition in leadership aimed at ensuring continuity and operational stability for the company. Ganorkar’s extensive experience and knowledge of the industry position him well to lead TATA AIG into its next phase of growth and development.
Ganorkar expressed his gratitude for the responsibility and commitment to continuing the company’s success. He emphasized that he is committed to working with the talented team to build on the company’s strengths and drive future growth. The appointment of Ganorkar is a testament to TATA AIG’s commitment to maintaining high standards of leadership and ensuring the company’s continued success in the market.
TATA AIG General Insurance Company appoints Amit Ganorkar as its new Chief Executive Officer and Managing Director.
TATA AIG General Insurance Company has appointed Amit Ganorkar as its new Managing Director and Chief Executive Officer, succeeding Neelesh Garg. Ganorkar has over 20 years of experience in the general insurance industry, with a focus on sales, distribution, and product development. Prior to his new role, he served as the Managing Director of Royal Sundaram General Insurance and Chief Operating Officer at TATA AIG. Ganorkar expressed his commitment to continuing the company’s legacy of success, focusing on customer-centricity, digital transformation, and sustainable growth.
TATA AIG General Insurance Company is a joint venture between TATA Group and American International Group (AIG), which began its operations in India in 2001. The company has reported significant growth in its health business, with a growth rate of 44% over the past five years. The company expects to sustain this growth, aiming for at least 30% growth in the next two to three years. The health business currently accounts for around 21% of the company’s premium.
Ganorkar takes up his new role on January 1, 2025, after receiving approval from the Board of Directors. The company has secured all necessary regulatory approvals to ensure a smooth transition of responsibilities. The appointment is seen as a significant development in the company’s journey, and Ganorkar is expected to play a crucial role in shaping the company’s future growth and success.
The Insurance Regulatory and Development Authority of India (IRDAI) imposed a Rs 1 crore penalty on an insurance company for violating norms related to outsourcing.
The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a fine of Rs 1 crore on Royal Sundaram General Insurance (RSGI) for non-compliance with outsourcing regulations in the financial years 2018-19 and 2019-20. The penalty followed a remote inspection by IRDAI between September 14-25, 2020, which revealed several regulatory violations.
The inspection found that RSGI had made payments exceeding Rs 50 crore to vendors in FY 2019-20, but failed to disclose these in their outsourcing returns submitted to IRDAI. This lack of transparency and non-compliance with regulations raised concerns about the insurer’s governance and regulatory compliance.
The inspection also identified issues with claims management, including irregularities in RSGI’s claims handling processes, resulting in delays and lack of alignment with Health Regulations, 2016. The insurer had reopened 53,354 claims worth Rs 123.43 crore and closed 6,466 claims worth Rs 34.99 crore, but IRDAI criticized the delays and lack of transparency.
IRDAI also questioned RSGI’s claim of having a customer-centric approach, citing that a truly customer-centric approach requires timely resolution of claims and transparent communication throughout the process. The regulator warned RSGI against further lapses in claims handling and regulatory compliance, emphasizing the importance of transparency, adherence to regulations, and robust governance systems in the insurance sector to ensure policyholder confidence and regulatory integrity.
The penalty and warning serve as a reminder to insurance companies to prioritize compliance with regulations and transparency in their business practices to maintain trust and confidence from policyholders and regulatory bodies alike.