IndiaInsurance
2nd November 2010, 05:12 AM
Mumbai-based Videocon Industries is set to enter the financial services sector by forming a non-life insurance joint venture with Liberty Mutual Group based in Boston, Massachusetts. Videocon, the flagship of the $5-billion Videocon Group, will hold 74% stake in the venture while the rest will be held by Liberty, a global property and casualty insurer which had revenues over $31 billion in 2009. Industry sources told FE that David H Long, president, Liberty Mutual Group and Venugopal Dhoot, chairman and managing director, Videocon Industries are expected to sign a letter of intent to this effect soon. Under the proposed agreement, ...
More... (http://in.biz.yahoo.com/101101/50/bawgz5.html)
More... (http://in.biz.yahoo.com/101101/50/bawgz5.html)