KKR to acquire a 9.99% stake in Shriram General Insurance from Shriram Group and Sanlam.

KKR, a private equity firm, agreed to acquire a 9.99% stake in Shriram General Insurance, a complete range of general insurance products provider, from Shriram Group, an Indian financial services conglomerate, and Sanlam, a pan-African financial services group, for $238m. "We are delighted to welcome KKR as our investor, and look to benefit from their global insurance expertise, as well as significant experience taking Indian companies to the next level. We look forward to collaborating closely to strengthen Shriram General Insurance’s offerings to Indian consumers and achieve continued success," Anil Kumar Aggarwal, Shriram General Insurance Managing Director and CEO.