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Rediff.com  » Business » Buffett to meet Irda chief Harinarayan on Mar 25

Buffett to meet Irda chief Harinarayan on Mar 25

March 22, 2011 17:32 IST
US billionaire investor Warren Buffett, whose group recently entered the Indian insurance market, will meet Irda Chairman J Harinarayan in New Delhi on Friday.

Berkshire Hathaway, the conglomerate chaired by Buffett, recently forayed into the Indian non-life insurance sector as a corporate agent of Bajaj Allianz General.

"Yes...We will be meeting in New Delhi on Friday," Harinarayan told PTI when asked whether he would be meeting Buffett.

The Insurance Regulatory and Development Authority (Irda) chief said there is no particular agenda for the meeting.

Buffett is in India as part of his philanthropic initiatives and is also expected to look at possible investment opportunities in the country.

As part of its India entry, the American conglomerate has incorporated Berkshire India to sell and distribute general insurance products in India.

Berkshire India would directly sell insurance to consumers through the portal 'www.berkshireinsurance.com' and by way of telemarketing, it said in a statement. Buffett, well known for his business acumen and choice of investments, would also meet with individuals who have bought insurance policies through his Indian venture on Friday.

Berkshire Hathaway is a sprawling conglomerate that has interests in various businesses, including property and casualty insurance and reinsurance, finance, manufacturing, and retailing.

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