Warren Buffett to invest in India’s reinsurance market
Friday, 09 29 2017, Category: Insurance and Reinsurance, Country: India
General Re, a unit of Warren Buffett's Berkshire Hathaway Inc. which won a license to open an Indian office in May, is seeking a larger slice of the world's fastest-growing reinsurance market, Bloomberg reports.
According to the report, the unit plans to expand in health and life insurance, as well as explore opportunities in property and casualty cover, said Venkatesh Chakravarty, chief executive officer of General Reinsurance AG India Branch. The market is forecast to grow at an average annual growth rate of 9 per cent from 2017 to 2022, according to Reports Monitor.