Buffett enters Indian insurance market

U.S. billionaire Warren Buffett’s conglomerate Berkshire Hathaway is entering the Indian insurance market, starting out with motor insurance

Berkshire India Limitid, based in Gurgaon, is a new corporate agent of large local insurance company Bajaj Allianz General, and the company is preparing to offer initially car insurance and later possibly health, travel and other general insurance products via its website and a call-centre.

“We have been watching the Indian insurance industry for a long time and are very excited about the immense opportunity in the emerging retail insurance sector,” Berkshire India director Kara Raiguel said.

Berkshire Hathaway offers insurance products in the U.S. via its subsidiaries GEICO, National Indemnity Company and other corporations.