Royal Sundaram, Repco Bank tie up

Chennai: Royal Sundaram Alliance has tied up with the south-based Repatriates Cooperative Finance and Development Ltd (Repco Bank) for distribution of general insurance products.

Royal 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.

"Regional 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.