The Hindu : Business : Royal Sundaram inks pact with ING Vysya

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Wednesday, Jun 21, 2006

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Business

Royal Sundaram inks pact with ING Vysya

Special Correspondent

CHENNAI: Royal Sundaram Alliance Insurance Company Ltd. has entered into a corporate agency agreement with ING Vysya Bank for distribution of general insurance products. The two companies signed an agreement to this effect recently.

ING Vysya Bank will distribute health, personal accident, motor, travel and home insurance products through the banks' extensive branch network and further increase insurance penetration in the SME (small and medium enterprise) and rural segments. This will further strengthen the relationship between both the partners.

Antony Jacob, Managing Director of Royal Sundaram, said in a release that, "Royal Sundaram strives to understand the needs of its customers and provide solutions to cater to those needs. With ING Vysya's prominent presence in major metros, smaller cities and towns, this partnership will be a great enabler in providing easy access to insurance solutions to the wider customer network. We have a clear focus on the need for insurance for the Indian customer and will be able to provide customised products to suit these needs."

Vaughn Richtor, Managing Director & CEO, ING Vysya Bank, said the alliance would help his organisation grow its retail business and provide value added products and services to its customers.

The alliance, the release said, would beef up the relationship between both the partners.

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