South African insurers attracted by the Indian market

Sanlam Group, South Africa's major insurer, has announced that the Indian market stands as one of its priorities. The group already owns 26% of Shiram Life Ins. Co. based in Chennai, but no information was revealed about the future expansion strategy.
Shiram Life has yet confirmed that it wanted to make advantage of the South African insurer's experience to expand in India and particularly in the Northeast. This alternative requires a fund injection of 1 billion INR (21.6 million USD) and the opening of 250 new branches.