Tag: Indian insurance market

Tencent takes more of Indian insurance market with 10% Policybazaar stake purchase

H. Cutner
Indian Insurance Market - Tencent HQ

The Chinese tech giant has acquired a minority state in the home, auto and life comparison company. Tencent Holding Ltd. has just taken more of its first steps into the Indian insurance market with an acquisition of a 10 percent stake of Indian online insurance aggregator Policybazaar. This values the Indian company at $1.5 billion. The Chinese technology giant has been working to grab a piece of India’s growing insurance sector. The 10 percent Policybazaar stake was obtained through a purchase of half of Tiger Global Management LLC’s stake in…

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A.M. Best report shows the potential for growth seen in the Indian insurance market

 A new report from A.M. Best, a global insurance rating company, shows that the insurance market of India is poised for major growth. This potential for growth is, however, offset significant challenges facing the insurance industry. The report, titled “Growth Anticipated for Indian Insurers, But Frustrations Remain”, indicates that the nation’s insurance industry will benefit from a growing middle class and economic growth in numerous industries. The report also highlights the shortcomings of the nation’s auto insurance market, which has become quite volatile as more people have begun driving. The…

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Bershire Hathaway opens doors in India

Marc

Berkshire Hathaway Inc., a U.S. based insurance company run by Warren Buffett, has announced that they will be entering the insurance market in India. The insurer will make its entrance into the Indian sector as a corporate agent of Bajaj Allianz General Insurance. Berkshire Hathaway will provide general insurance products via online distribution. They will focus their efforts mostly on auto insurance and branch out from there. The Indian insurance market is experience rapid evolution and Berkshire Hathaway is committed to providing the products that are needed most. According to…

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