https://indianpedia.org/index.php?action=history&feed=atom&title=Liberty_General_InsuranceLiberty General Insurance - Revision history2026-07-30T23:38:24ZRevision history for this page on the wikiMediaWiki 1.45.4https://indianpedia.org/index.php?title=Liberty_General_Insurance&diff=132722&oldid=prev>BrownHairedGirl at 01:39, 18 April 20212021-04-18T01:39:34Z<p></p>
<p><b>New page</b></p><div>{{short description|Indian Insurance Company}}<br />
'''Liberty General Insurance''' Limited is a private [[general insurance]] company headquartered in Mumbai, India. It is a joint venture among US property casualty insurer [[Liberty Mutual Insurance Group]], Indian private investment fund Enam Securities, and Indian industrial conglomerate DP Jindal Group.<ref>{{Cite news|url=http://indiaeducationdiary.in/liberty-mutual-insurance-group-announces-new-joint-venture-partnership-indian-company/|title=Liberty Mutual Insurance Group Announces New Joint Venture Partnership for Indian Company - India Education Diary|last=Admin|first=India Education Diary Bureau|date=2018-03-20|work=India Education Diary|access-date=2018-05-29|language=en-US}}</ref>{{Infobox company<br />
| name = Liberty General Insurance<br />
| native_name = <!-- Company's name in home country language --><br />
| native_name_lang = <!-- Use ISO 639-1 code, e.g. "fr" for French. If there is more than one native name, in different languages, enter those names using {{tl|lang}}, instead. --><br />
| romanized_name = <br />
| trading_name = <!-- d/b/a/, doing business as - if different from legal name above --><br />
| logo = Liberty_General_Insurance.jpg<br />
| area_served = India<br />
| key_people = '''Roopam Asthana''' - [[CEO]] and Whole Time Director<ref>https://www.libertyinsurance.in/news-media.html</ref><br />
| industry = [[Insurance]]<br />
| genre = <!-- Only used with media and publishing companies --><br />
| products = Motor, Health, Travel, Property, Commercial & Industrial Insurance<br />
| num_employees = 1200<br />
| parent = Liberty Mutual (48.7%), DP Jindal Group (26%) & ENAM Securities (25.32%)<br />
| homepage = https://www.libertyinsurance.in<br />
| founded = 2013<br />
| location_city = [[Mumbai]]<br />
| location_country = [[India]]<br />
}}<br />
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== History and ownership ==<br />
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Liberty General Insurance was started in 2013 as Liberty Videocon General Insurance, a joint venture between Liberty Mutual and [[Videocon Group]]. In March 2018, Videocon sold its 51.3% stake in the venture to a combination of DP Jindal (26%) and Enam Securities (25.3%),<ref>{{Cite news|url=http://www.business-standard.com/article/news-cm/videocon-industries-exits-from-liberty-videocon-general-insurance-company-118032000386_1.html|title=Videocon Industries exits from Liberty Videocon General Insurance Company|last=Market|first=Capital|date=2018-03-20|work=Business Standard India|access-date=2018-06-03}}</ref> and the company was renamed Liberty General Insurance Limited.<br />
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== Business operations and financials ==<br />
As in March 2018, Liberty General Insurance had a market share of 0.54%, with a growth rate of 40% in 2017.<ref>{{Cite news|url=https://economictimes.indiatimes.com/opinion/interviews/banks-rely-less-on-credit-bureaus-for-corporate-loans-harshala-chandorkar/articleshow/64184664.cms|title=Banks rely less on credit bureaus for corporate loans: Harshala Chandorkar|last=Nayak|first=Gayatri|date=2018-05-16|work=The Economic Times|access-date=2018-06-25}}</ref> The company has approximately 1,200 employees spread across 23 states.{{Citation needed|date=August 2019}}<br />
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Liberty General Insurance has also entered into collaboration with over 30 district cooperative banks as “affinity partners” to help them issue vehicle and personal accident insurance, particularly to farmers.<ref>{{Cite news|url=https://www.thehindubusinessline.com/companies/Liberty-Videocon-Insurance-to-launch-2-new-products/article20730803.ece|title=Liberty Videocon Insurance to launch 2 new products|work=@businessline|access-date=2018-06-25|language=en}}</ref> Liberty General Insurance Limited sells its insurance products through its branches, its website as well as through online aggregators. It has also signed a tie-up agreement with UCO Bank to boost growth with the "[[Bancassurance]]" model. Under this model, the promoter bank will distribute the insurance products offered by Liberty General Insurance at its branches through its existing customer base.<ref>{{Cite news|url=http://www.business-standard.com/article/finance/liberty-videocon-general-insurance-to-tap-bancassurance-to-boost-growth-117021500908_1.html|title=Liberty Videocon General Insurance to tap bancassurance to boost growth|last=Babu|first=Gireesh|date=2017-02-15|work=Business Standard India|access-date=2018-07-07}}</ref> Its partner network consists of about 5,000 hospitals and more than 3,100 auto service centres.{{Citation needed|date=August 2019}}<br />
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Liberty General Insurance began its operations with an initial investment of Rs. 350 crore.<ref>{{Cite news|url=https://www.thehindubusinessline.com/money-and-banking/Liberty-Videocon-General-Insurance-opens-offices-in-four-cities/article20597555.ece|title=Liberty Videocon General Insurance opens offices in four cities|work=@businessline|access-date=2018-07-01|language=en}}</ref> As of March 2018, the paid up capital of the company stood at Rs. 1084 crores.<ref>{{Cite news|url=https://timesofindia.indiatimes.com/business/india-business/videocon-exits-non-life-business/articleshow/63405276.cms|title=Videocon exits non-life business - Times of India|work=The Times of India|access-date=2018-07-01}}</ref><br />
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== Products ==<br />
In 2014, Liberty General Insurance launched its bundled package for the [[Small and medium-sized enterprises|SME sector]] which offered coverage to businesses against property or cash losses, fire as well as health problems of group of employees.<ref>{{Cite news|url=https://www.thehindubusinessline.com/companies/Liberty-Videocon-Insurance-to-launch-2-new-products/article20730803.ece|title=Liberty Videocon Insurance to launch 2 new products|work=@businessline|access-date=2018-07-15|language=en}}</ref> In August 2016, a multi-year two-wheeler package policy was also launched by the company which eliminated the need of renewing two-wheeler insurance every year.<ref>{{Cite web|url=https://auto.economictimes.indiatimes.com/news/aftermarket/liberty-videocon-general-insurance-launches-multi-year-two-wheeler-package-policy/53684744|title=Liberty Videocon General Insurance launches multi-year two-wheeler package policy - ET Auto|last=www.ETAuto.com|website=ETAuto.com|language=en|access-date=2018-07-15}}</ref> By the end of 2016, the company launched Health Connect Supra, a top-up and super top-up product offering Sum Insured till Rs. 1 crore.<ref>{{Cite web|url=https://www.moneycontrol.com/news/business/companies/liberty-videocon-eyes-rs-570-cr-premium-collection-this-fiscal-938634.html|title=Liberty Videocon eyes Rs 570 cr premium collection this fiscal|website=Moneycontrol|language=en-US|access-date=2018-07-15}}</ref><br />
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== References ==<br />
{{reflist}}<br />
<br />
[[Category:Financial services companies established in 2013]]<br />
[[Category:General insurance companies of India]]<br />
[[Category:Financial services companies based in Mumbai]]<br />
[[Category:Liberty Mutual]]<br />
[[Category:2013 establishments in Maharashtra]]<br />
[[Category:Indian companies established in 2013]]</div>>BrownHairedGirl