Liberty Mutual Insurance announced early this week that it has increased its shareholding in Liberty General Insurance Limited (LGI) to 74%, marking the US-based insurer’s second ownership expansion in the Indian joint venture in less than a year.
The development follows an earlier increase in Liberty Mutual’s stake from 49% to 55.40% in September 2025. Under the current structure, Liberty Mutual holds its 74% stake through Summit Asia Investments Holdings Pte. Ltd., a group company, while Enam Securities holds the remaining 26%.
The general insurer began operations in 2013 as a joint venture between Liberty Mutual Insurance and the Videocon Group under the name Liberty Videocon General Insurance. In March 2018, Videocon exited the venture by selling its entire stake to the DP Jindal Group and Enam Securities because of financial difficulties, Business Standard reported.
Parag Ved, chief executive officer and whole-time director of Liberty General Insurance, said the expanded backing positions the company for broader market reach.
“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,” Ved said. “Our focus remains on building a business that is consistent, resilient, and built on sound fundamentals, while remaining adaptable in a market that is defined by constant change.”
Ved added that India presents a unique opportunity because of its diversity and growing demand for protection.
“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.
“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,” said Matthew Jackson, president of Liberty International Insurance APAC. “Increasing our shareholding in Liberty General Insurance allows us to further develop the business and bring our global capabilities more directly to the market.”
The stake increase comes amid a broader wave of foreign investment activity in India’s insurance sector. The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, received presidential assent on Dec. 20, 2025, and came into effect Feb. 5, 2026, raising the FDI cap in Indian insurance companies to 100% from the previous ceiling of 74%. The policy change aligns with the Insurance Laws (Amendment) Act, 2025, aimed at improving insurance penetration and strengthening the sector’s capital base.
