Liberty General Insurance (LGI), one of the leading non-life insurance companies in India, has been appointed as the lead insurer for Delhi by the Insurance Regulatory and Development Authority of India (IRDAI).
The appointment comes as a part of IRDAI’s State Insurance Plan, which aims to enhance financial awareness and drive insurance inclusion in collaboration with other insurers.
According to the announcement, IRDAI’s decision to identify LGI as the lead insurer (Non-Life) for Delhi is a strategic move to improve insurance awareness and penetration across the state.
The initiative aligns with IRDAI’s mission of “Insurance for All by 2047” and aims to ensure last-mile delivery of insurance services to the uninsured population of Delhi.
As the lead insurer, LGI will collaborate with all non-life and health insurance companies operating in Delhi, as well as with IRDAI and the State Government, to create awareness of existing government schemes and enhance insurance reach and accessibility across the state, including at the district, and state levels.
Roopam Asthana, CEO & Whole Time Director, Liberty General Insurance, commented: “We are excited to be appointed as the Lead Insurer and look forward to working closely with our colleagues in other non-life and health insurance companies, the insurance regulator, and the Government of Delhi to raise awareness and penetration of insurance to ensure financial protection for individuals and businesses alike.
“A financially protected Bharat is India’s next big milestone. Liberty is committed to empowering our heartlands by partnering with the State Government and local bodies to offer insurance solutions to the populace. With this important initiative we aim to bridge the insurance gap between rural and urban India and create a financially secure future for all citizens.”
LGI is a joint venture between Summit Asia Investment Holdings PTE Ltd.— a group company of Liberty Mutual Insurance Group, a diversified global insurer with over 900 offices across the world, headquartered in the U.S., Enam Securities, and Diamond Dealtrade.