Alliance has tied up with the south-based Repatriates Cooperative
Finance and Development Ltd (Repco Bank) for distribution of
general insurance products.
Sundarams commercial and personal products will be sold to
Repco Banks key audience, including traders (shopkeepers and
small establishments), house, vehicle and hire purchase loan
prospects and social sector customers.
Through the tie-up, Royal Sundaram targets traders through its
policy scheme, Trader Shield Gold, and women social
sector clients with its Shakti Security Shield Repco.
This is Royal Sundarams first alliance
with a domestic cooperative bank; the company already has
agreements with Citibank, Standard Chartered Bank, Amex Bank and
ABN Amro Bank.
banks have an immense clout in their respective geographical
areas," says Royal Sundaram Alliance deputy managing director
Antony Jacob. Repco Bank has 31 branches in southern states.