Berkshire Hathaway mulls direct entry into India's insurance sector

NEW DELHI: Berkshire Hathaway is planning direct foray into the insurance segment. It is also keeping a close watch on the developments related to further opening of the sector to foreign investment. Recently, the company has entered the non-life insurance sector as a corporate agent of Bajaj Allianz General.

On his first visit to the country, Mr Buffett was looking at investments in countries such as India. He has also stated that the 26% foreign investment cap in insurance sector here was a hindrance. Berkshire India is majority-owned unit of Berkshire Hathaway. It sells and distributes general insurance products in the country through its online distribution portal.