Liberty Videocon starts general insurance operations in India

India-based Liberty Videocon General Insurance Co. Ltd. has opened for business and is targeting premium sales for its general insurance business of 1.2 billion Indian rupees ($22.10 million) by December 2013, mydigitalfc reported.

Liberty Videocon is the 27 nonlife insurer in the market and is planning a portfolio with equal mix of retail and commercial products. Liberty Videocon is a joint venture between Indian industrial conglomerate Videocon Industries Ltd. (74% stake) and U.S. based Liberty Holdings Ltd. (26% stake).

http://www.businessinsurance.com/article/20130226/NEWS09/130229870