KKR & Co, US private equity firm has purchased a 9.9 percent stake in Shriram General in Shriram General Insurance Company for Rs 1,800 crore. As per the deal, Shriram General Insurance Company will hire an executive from a New York-based alternate asset manager to its board.
The company has tweeted, “We are pleased to announce an investment in Shriram General Insurance Company, a leading general insurance company, which will position the company for continued growth in India’s fast-growing general insurance industry.”
Gaurav Trehan, Partner and Chief Executive Officer for KKR India said, “Shriram General Insurance has been one of the standout performers in India’s fas-growing general insurance industry, and continues to build on their record by developing new capabilities, channels, and products to meet the growing needs of Indian consumers.”
