The Hindu Business Line : Bajaj Allianz invests in SKS Microfin

Life and general insurer Bajaj Allianz has invested Rs 50 crore ($10 million) in Hyderabad-based SKS Microfinance. “Investment from a leading private insurer gives SKS greater stability and credibility, as well as a stronger capital base to extend our reach to serve more poor customers,” Founder-Chairperson of SKS Microfinance, Dr Vikram Akula, said. SKS Microfinance had partnered with Bajaj Allianz Life Insurance last year to launch a micro-insurance product f or the rural poor. “We are happy with SKS and its unique business model that makes it an ideal vehicle for serving customers at the bottom of the pyramid,” said Mr Kamesh Goyal, Country Manager, Allianz & CEO of Bajaj Allianz Life Insurance.

- Our Bureau

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