Berkshire Hathaway to set up shop in India

Berkshire India plans to offer top-of-the-line services at attractive rates in distributing insurance products

Berkshire Hathaway Inc, headquartered in Omaha, US, a diversified holding company with subsidiaries that include GEICO, National Indemnity, and various other insurance and manufacturing businesses, has announced their plans to enter the Indian insurance sector as a corporate agent of Bajaj Allianz General Insurance. Berkshire India, a majority-owned unit of Berkshire Hathaway Inc. has been incorporated to sell and distribute general insurance products in India through their online distribution portal – Berkshire India will sell insurance directly to the consumer by utilizing the internet portal (berkshireinsurance.com) and tele-marketing. Initially, the focus will be on Motor Insurance, but the Company will continuously update its business model to meet the needs of the fast evolving Indian insurance sector. Speaking on their foray into the growing Indian insurance market Kara Raiguel, director of, Berkshire India remarked, “We have been watching the Indian insurance industry for a long time and are very excited about the immense opportunity in the emerging retail insurance sector. Berkshire Hathaway has been very successful in the online and direct distribution model in the US and as a corporate agent of Bajaj Allianz, we would like to replicate that success in India as well.” “Buying financial products directly over the internet is a relatively new and growing opportunity in India. We will engage directly with the consumers using the online platform to provide insurance products efficiently. Building an easy to use website and offering a hassle-free way to buy insurance with superior customer service will be the core focus of the company. We found that both Bajaj Allianz and Berkshire India share a common goal of providing exemplary customer service,” added Arun Balakrishnan, CEO, Berkshire India. Berkshire India’s aim is to provide the right combination of service and cost in distributing insurance products to the Indian consumer. If the market proves receptive, the Company will seek to expand its products to include health insurance, life and travel insurance and other personal lines, as well.