Liberty General Insurance

Liberty General Insurance Limited is a private general insurance company headquartered in Mumbai, India. It is a joint venture among US property casualty insurer Liberty Mutual Insurance Group, Indian private investment fund Enam Securities, and Indian industrial conglomerate DP Jindal Group.^[1]

Liberty General Insurance

Industry	Insurance
Founded	2013
Headquarters	Mumbai , India
Area served	India
Key people	Parag Ved - CEO and Whole Time Director
Products	Motor, Health, Travel, Property, Commercial & Industrial Insurance
Number of employees	1200
Parent	Liberty Mutual (48.7%), DP Jindal Group (26%) & ENAM Securities (25.32%)
Website	https://www.libertyinsurance.in

History and ownership

Liberty General Insurance was started in 2013 as Liberty Videocon General Insurance, a joint venture between Liberty Mutual and Videocon Group.^[2] In March 2018, Videocon sold its 51.3% stake in the venture to a combination of DP Jindal (26%) and Enam Securities (25.3%),^[3] and the company was renamed Liberty General Insurance Limited.

Business operations and financials

As in March 2018, Liberty General Insurance had a market share of 0.54%, with a growth rate of 40% in 2017.^[4] The company has approximately 1,200 employees spread across 23 states.^{[citation needed]}

Liberty General Insurance has also entered into collaboration with over 30 district cooperative banks as "affinity partners" to help them issue vehicle and personal accident insurance, particularly to farmers.^[5] Liberty General Insurance Limited sells its insurance products through its branches, its website as well as through online aggregators. It has also signed a tie-up agreement with UCO Bank to boost growth with the "Bancassurance" model. Under this model, the promoter bank will distribute the insurance products offered by Liberty General Insurance at its branches through its existing customer base.^[6] Its partner network consists of about 5,000 hospitals and more than 3,100 auto service centres.^{[citation needed]}

Liberty General Insurance began its operations with an initial investment of Rs. 350 crore.^[7] As of March 2018, the paid up capital of the company stood at Rs. 1084 crores.^[8]

Liberty General Insurance, one of the leading non-life insurance company in India, has been appointed as the lead insurer for Delhi by the Insurance Regulatory and Development Authority of India.^[9]