By IANS,
Chennai: Shriram Life Insurance Saturday said its minority stakeholder, South Africa-based Sanlam, will take care of the marketing of company products in all parts of the country except the south.
“We term it as a new distribution channel, Sanlam channel, headquartered in Delhi. It will take care of marketing operations in the northern, western and eastern parts of India,” Shriram Group chairman R. Thiagarajan told IANS.
Shriram Life is a 74:26 joint venture between the Shriram Group and Sanlam.
“The new channel has nothing to do with our rate of growth. We are happy with the kind of growth and the quality of business generated till date,” he added.
Shriram Life has posted a net profit of Rs.8 crore for the last fiscal and won new business worth Rs.312 crore.
According to Thiagarajan, the Sanlam channel has hired around 400 people.