Ageas acquired a 40% stake in Royal Sundaram General Insurance Co. for EUR186m.

Ageas, a Belgian multinational insurance company, acquired a 40% stake in Royal Sundaram General Insurance Co, the first private sector general insurance company in India, for EUR186m. Commenting on the agreement, Bart De Smet, CEO of Ageas, said: "Partnering with Sundaram Finance, a well-established company with a vast knowledge of the Indian insurance market, offers us a great opportunity to benefit from the potential of what is one of the world's largest economies with an insurance industry that is expected to grow significantly in the coming years. Being already present in the Indian Life insurance market, we now will be able, through this new joint venture, to also fully grasp opportunities in the Non-Life market. We are confident that Ageas's insurance expertise combined with Sundaram Finance's market knowledge and position will take RSGI to a next level in terms of size and profitability."