Videocon General Insurance to get Rs 310 crore for Capital Infusion


New Delhi: Liberty Videocon General Insurance Company Limited, a cooperative venture flanked by India’s Videocon Industries Limited and Liberty City state Holdings Pvt Limited, division of US-headquartered multinational Liberty Mutual Insurance Group, declared its arrangement to commence slam India bureau athwart diverse locations In India. Videocon General Insurance is top for capital infusion of Rs 310 crore as its foreign JV partner is put to increase stake to 49 percent, the boundary beneath the revised guiding principle for the insurance sector. Pankaj Arora, Country Head-Retail conveyed that, they will get Rs 310 crore, so they will close to Rs 1,000 crore as capital from Liberty, amid the uppermost in general insurance space. Videocon General Insurance has been in service in India as year 2013, with existence in chooses cities in India. Statement on the expansion Pankaj Arora, Country Head –Retail Business, Liberty Videocon General Insurance Company Limited conveyed that the corporation has exposed hearty growth as the commence of procedure in 2013, at the present we table to take the increase to the subsequently level, by ornamental our attendance in numerous locations. He conveyed that we will be commencing up approximately 40 supplementary brushwood in tier 2 & tier 3 towns in India after that 4 months. This will obtain our attendance to approximately 80 locations across Tier 1, 2 & 3 cities in India”.

Arora was in Delhi throughout the Flames of Liberty 2016 souvenir commences. Flames of Liberty are a nationwide intermediary engagement programme commenced by Liberty Videocon General Insurance to connect with distributors and agents successfully. The customers can cover his two-wheeler for two to three years beneath a solitary rule manuscript. The strategy will present defense next to hike in Third Party (TP) Premium each year and add-on coverage with extra shields.