South African insurer Sanlam plans to increase its stakes in Shriram General and Life Insurance, strengthening its position in India.

South African insurer Sanlam plans to raise its stake in Shriram General Insurance to 50.99% from 40.25% and in Shriram Life Insurance to 54.4% from 42.38%. The insurer will fund the purchase by raising Rs 892 crore (ZAR 2 billion) and selling its shares in Shriram Finance. The transactions aim to strengthen Sanlam's position in India, enhance geographic diversification, and support growth in the Indian market.

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