Berkshire Hathaway, owned by Warren Buffet has tied up with Bajaj Allianz to sell their insurance products.
In a purely operational tie-up, the Indian unit of Berkshire Hathaway will act as a corporate agent to sell the insurance products of Bajaj Allianz. On behalf of Bajaj Allianz, the US-based insurer will sell general insurance products through its online distribution portal and telemarketing channel.
Kara Raiguel, India Director of Berkshire Hathaway said, “We have been watching the Indian insurance industry for a long time and are very excited about the immense opportunity.”
Berkshire Hathaway is headquartered in Omaha, Nebraska, and is a major player in the insurance sector, owning subsidiaries like GEICO and National Indemnity. In India, they will initially focus on the motor insurance space. They also plan to expand the portfolio to include life insurance, health insurance, travel insurance, and other products.
, travel insurance, and other products.
, health insurance, travel insurance, and other products.
Warren Buffet is expected to make his first-ever visit to India. He will travel with Bill Gates to persuade billionaires to donate money for their initiative called the ‘Giving Pledge’. According to reports, Warren Buffet has also sought time for a meeting with J Hari Narayan, Chairman of, the Insurance Regulatory and Development Authority (IRDA).
