According to a news item Royal Sundaram Alliance Insurance Company Limited may merge in to Reliance General Insurance Company Limited.
This is because of fact that an entity can not have two insurance companies in India.
We understand that foreign partner of Royal Sundaram Alliance Insurance Company Limited i.e. Sun Alliance wants to invest 26% in Reliance General Insurance Company Limited. Therefore the option being considered is that Sun Alliance will buy Sundaram Group holding and then invest 26% in Reliance General Insurance Company Limited. This means that Royal Sundaram Alliance Insurance Company Limited will merge in to Reliance General Insurance Company Limited.
This will be good for customers as they will become the client of a strong/ large insurance company.
This may impact the customers in a positive manner.
Customers of Royal Sundaram Alliance Insurance Company Limited health Insurance will get Reliance General Insurance Company Limited Policy at lower rates. Let us see the facts;
Age. 32
Sum Assured – Rs. 2 Lakhs
(Inclusive of Service Tax)
Royal Sundaram Alliance Insurance Company Limited Premium - Rs. 2947
Reliance General Insurance Company Limited Premium - Rs. 1680
There will be saving of Rs. 1267
Let us hope for the best.
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