Want a free lunch with Warren Buffett?

Mumbai: Want to have free lunch with legendary investor Warren Buffett for which investors write hefty cheques in the US? Get ready to buy the first few auto policies of Bajaj Allianz General Insurance through berkshireinsurance.com, the new online corporate agency set up by Buffett’s Berkshire Hathaway in collaboration with Germany’s largest insurer Allianz.

Even as Buffett, who will be visiting India soon, is yet to announce the details, it is learnt that the new high-profile corporate agency will be launched during his visit and the first 50 buyers who will buy auto policies through berkshireinsurance.com will have the opportunity to have lunch with Buffett.

Speaking to FE , Kara Raiguel, director, Berkshire India said, “We are working on an event for the launch of berkshireinsurance.com but need a few more days to finalise the details before we can discuss them. We are not in a position to...disclose when exactly Buffett is arriving in India nor the details of his schedule.’’

Recently, insurance regulator Irda has given its approval for the on-line corporate agency set up by Berkshire in India, the second country after the US to have such an entity by Buffett. The agency, where Allianz holds 20% share , will have a capital of more than Rs 22 crore.

In the US, corporate agents are known as managing general agents (MGAs) and GEICO owned by Berkshire Hathaway is an MGA for homeowners business for other general insurance companies in the US. Berkshire Hathaway also owns BOAT USA which is an MGA for CNA

“We continue to explore opportunities either organically or through acquisitions that are similar to a corporate agency,’’ said Raiguel

The Berkshire Hathaway-promoted corporate agency is currently focused on getting the infrastructure in place on the non-life products, but going ahead, will also sell...