Billionaire Warren Buffett’s Berkshire Hathaway says it is entering India’s insurance market.
Berkshire India said it will start by selling auto insurance as an agent of India’s Bajaj Allianz General Insurance and may move into other lines of insurance as well.
Its focus will be on direct sales, via internet and phone.
Foreign companies have been eager to break into India’s booming insurance market but have been stymied by strict ownership limits.
Source : Businessweek
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