Sundaram Finance will take 42 per cent while theremaining 32 per cent stake will be taken by TVS Sundaram Iyengar, Laxmi General and Impal, Anthony Jacob, chief executive officer of Royal & Sun Alliance in India, said.Royal & Sunalliance will take up the entire 26 per centstipulated under the insurance rules for foreign partners.

TVS Sundaram Iyengar is the holding company of the TVS Group while Laxmi General and Impal are its associate firms.Jacob said the new joint venture, which plans to enterthe domestic non-life insurance sector, will begin with Rs 100 crore paid-up equity capital.