Billionaire Warren Buffett's Berkshire Hathaway is entering the Indian insurance market as a corporate agent for Bajaj Allianz, the companies said.
Berkshire made no investment in Bajaj, but will sell policies for Bajaj Allianz General Insurance, beginning with auto insurance, Bajaj spokesman Santosh Balan said Thursday.
Insurance for India's fast-growing auto market accounts for over 50 percent of Bajaj Allianz's premium income, which amounted to 20.9 billion rupees ($465 million) from April through December, Balan said.
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