Oct 20, 2016 10:11 AM IST | Source: CNBC-TV18

Buffett's Berkshire plans Rs 100cr reinsurance foray in India

The company, which is awaiting regulatory approvals, plans to operate in the reinsurance space via its subsidiary Gen Re. It expects to start Indian operations by FY17-end or early FY18 with an initial capital of Rs 100 crore.

India's reinsurance space has witnessed heightened action in the past couple of months and Warren Buffett-led Berkshire Hathaway is planning to enter India soon, according to people privy to the company’s plans.

The company, which is awaiting regulatory approvals, plans to operate in the reinsurance space via its subsidiary Gen Re. It expects to start Indian operations by FY17-end or early FY18 with an initial capital of Rs 100 crore.

It will compete with players like Swiss Re, Munich Re, Hannover Re in India.

Watch video for more...

Sections
Follow us on
Available On