On Sunday, Prudential plc of the UK said it will acquire a 75% stake in Bharti Life Insurance Company Ltd for an initial cash consideration of Rs 3,500 crore ($389 million). (Image generated using Google Gemini)
US-based Liberty Mutual Insurance has increased its stake in Liberty General Insurance Ltd (LGI) to 74% from 55.40%, underscoring the growing footprint of foreign insurers in the country.
The development follows an earlier hike in Liberty Mutual’s stake from 49% to 55.40% in September 2025. On Sunday, Prudential plc of the UK said it will acquire a 75% stake in Bharti Life Insurance Company Ltd for an initial cash consideration of Rs 3,500 crore ($389 million).
It did not disclose financial details of the increase in stake.
LGI commenced operations in 2013 to provide comprehensive retail, commercial and industrial insurance solutions. The company has an employee strength of over 1,300 and its presence spans across 95 locations in 28 states and Union Territories. Its partner network includes over 6,500 hospitals and more than 6,100 auto service centres.
The company provides a wide range of insurance products in India, including health and personal accident cover, motor insurance for cars and two-wheelers, employee compensation and commercial insurance, along with specialised solutions such as surety, engineering, marine, liability and property insurance.
Parag Ved, Chief Executive Officer and Whole-Time Director, Liberty General Insurance, said, “With stronger backing from Liberty Mutual, we are now better positioned to expand our distribution footprint and deepen our presence across retail and commercial line segments. Our focus remains on building a business that is consistent, resilient, and built on sound fundamentals, while remaining adaptable in a market defined by constant change.”
“India presents a unique opportunity with its diversity, and growing demand for protection, and we can play a meaningful role in advancing insurance penetration in the country. As we move forward, our priority is clear — to deliver sustainable profitable growth, strengthen trust with our stakeholders, and continue building long-term value for customers, partners, and the communities we serve,” he said.
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Liberty Mutual Insurance Group is ranked 91st among Fortune 500 companies and is the 9th largest property and casualty insurer globally, with $178.2 billion in assets and $50.5 billion in revenues in 2025.
Liberty General Insurance is a joint venture between Summit Asia Investments Holdings Pte. Ltd, a group company of Liberty Mutual Insurance Group, a diversified global insurer headquartered in the US with over 900 global offices, holding a 74% stake, and Enam Securities, which holds a 26% stake.
“India remains an important market for Liberty Mutual as we build our business across Asia Pacific, supported by strong fundamentals and significant opportunity for growth. Increasing our shareholding in Liberty General Insurance allows us to further develop the business and bring our global capabilities more directly to the market,” said Matthew Jackson, President, Liberty International Insurance APAC.
A Fortune 100 company with over 40,000 employees in 27 countries and economies, Liberty Mutual Insurance is the ninth largest global property and casualty insurer and generates more than $50 billion in annual consolidated revenue.
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