The company has received its final approval from IRDA.
The count of general insurance companies existing in India will now be 27 after Liberty Videocon General Insurance Company received its final approval from IRDA. The company will initiate its business with a capital of Rs 300 crore.
“Videocon has a strong presence in consumer goods space and hence our insurance products will also be focussed on consumers. The domain knowledge and expertise of Liberty and our huge and strong consumer base will help the company build a robust business in the general insurance space,” said Venugopal N. Dhoot, CMD, Videocon Industries.
The company is currently busy finalising its product line up.