In its latest move to diversify its business Dabur Group has entered into a joint venture with Boston-based Liberty Mutual Group. The joint venture will provide personal as well as commercial insurance products. While Dabur Group firm, Dabur GI Invest Corp. will have majority share of 74%, Liberty Mutual will hold a 26% stake. The new entity is still not approved by Indian regulators. Once it is approved it will be known as Dabur Liberty General Insurance Company.

Edmund F Kelly chairman of Liberty Mutual Group on the occasion said that entering India’s insurance marketplace at this exciting time offers tremendous growth opportunity for his international operations while reinforcing his position among the leading global insurance companies. According to the sources new venture will stress on personal insurance products such as car, home and personal accident protection. 

 

V C Burman chairman of Dabur India Group is of the opinion that the Dabur Group has a deep understanding of the Indian market, based on domain knowledge acquired over several years. This, combined with Liberty Mutual's vast expertise in the insurance domain will help them become one of India's leading non-life insurers in days to come.