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Berkshire won't sell Bajaj Allianz's online insurance

Berkshire Hathaway Inc had launched its online insurance-distribution business in India two years back

July 18, 2013 11:05 IST | India Infoline News Service
US investment firm Berkshire Hathaway Inc will no longer sell online insurance products offered by Bajaj Allianz General Insurance for Indian customers, according to media reports on Wednesday.

However, no further details were provided.

Bajaj Allianz is a joint venture between Bajaj Finserv and Germany's Allianz SE. As their agent, Berkshire sold mainly motor insurance through the BerkshireInsurance.com website.

Berkshire Hathaway Inc had launched its online insurance-distribution business in India two years back.

Berkshireinsurance.com was launched in March 2011. Berkshire didn't underwrite insurance, but sold mostly vehicle- and travel-insurance policies of Bajaj Allianz, via the website.

Bajaj Allianz said it would continue to service the customers who had bought insurance products through the website.

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