Latest India insurance news regarding Liberty Mutual joint venture

International Insurance fund news

The Boston based insurer has received approval to begin selling its products. Liberty Mutual Insurance Group is making international insurance news now that it has received approval from India and is licensed to be able to sell its products within that country. The insurer has entered into a joint venture with Videocon Industries Ltd. This combined effort between Videocon Industries Ltd. and Liberty Mutual Insurance Group will be known as Liberty Videocon General Insurance Co. Ltd. It is now considered to be fully licensed from the primary regulatory authority in…

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Goldman Sachs sued by Liberty Mutual regarding losses from Freddie Mac investments

Investment banker Goldman Sachs & Co. was the target of a lawsuit by Liberty Mutual Insurance Co. and a number of its subsidiaries, for “making materially misleading statements and omissions” in November 2007, for Freddie Mac preferred stock offerings.  According to the lawsuit which was filed at a Massachusetts U. S. District Court, Liberty Mutual and its subsidiaries – Employers of Wausau, Safeco, Liberty Life, and Peerless – had made investments of $37.5 million within the Freddie Mac (Federal Home Loan Mortgage Corp) Series Z offering, which was made up…

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