Liberty Mutual raises stake in Liberty General Insurance to 74%
Liberty Mutual, a major US insurer, just bumped up its ownership in Liberty General Insurance (LGI) from 55.4% to 74%.
This move is all about getting a stronger grip on India's booming insurance market.
The exact investment amount isn't public, but it follows another increase last year.
LGI operations and Liberty Mutual backing
LGI covers everything from health and car insurance to specialized policies like marine and liability.
With over 1,300 employees across 95 locations, plus thousands of hospital and auto shop partners, it's pretty well connected in India.
Liberty Mutual's leaders say the extra support will help LGI grow even faster by expanding how it reaches customers.
Globally, Liberty Mutual is ranked No. 9 among property and casualty insurers and pulled in $50.5 billion last year, so it's definitely playing for keeps in India.