Videocon, Liberty plan non-life insurance JV

Videocon, the flagship company of Videocon group and Liberty Mutual group, a Boston-based global property & casualty insurance major, are planning to form a joint venture to foray into non-life insurance sector. Under the proposed agreement, Liberty Mutual Group through a subsidiary will initially pick up 26% stake in the Indian JV and may raise it to 49% when the regulations permit. Venugopal N Dhoot, CMD, Videocon Industries said, The company has a strong presence in Indian consumer space ranging from white and brown goods to mobile telecom services covering entire geography of India. Domain expertise of Liberty Mutual Group ...

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