Royal Sundaram General Insurance Co. Limited Risk Report

⚖️ Legal & Regulatory

Royal Sundaram General Insurance Co. Limited has faced some significant legal and regulatory challenges recently. The company was hit by notable penalties from the Insurance Regulatory and Development Authority of India (IRDAI) for compliance violations. Such penalties not only impact the financial position of the company but also affect its reputation and regulatory standing.

• The IRDAI imposed a ₹1 crore penalty on Royal Sundaram General Insurance for outsourcing norms violation 🗓 January 24, 2025.
• Royal Sundaram was penalized with a ₹1 crore fine by the IRDAI for regulatory issues 🗓 March 25, 2025.

🏗️ Operational & Business Continuity

Operational challenges have been evident for Royal Sundaram, affecting its business continuity. Strategic integrations and partnerships have been part of the company’s approach to sustain and grow operations. These actions are essential in maintaining service delivery and competitive positioning amidst industry demands.

• Royal Sundaram integrated with IRCTC through the Insillion Insurtech platform to streamline operations, issuing an impressive 500,000 policies per day 🗓 June 24, 2024.
• The company's financial results reflected difficulties, with standalone net profit declining by 50.89% in the December 2023 quarter 🗓 February 1, 2024.

📜 Innovation & R&D

The company is actively pursuing innovation to maintain its competitive edge and to cater to evolving market needs. Initiatives like new add-on covers for vehicle insurance and strategic partnerships illustrate the company’s focus on innovation in its services and offerings.

• Royal Sundaram launched three new add-on covers for vehicle insurance policies to broaden its service offerings 🗓 April 20, 2023.