Fairfax to Invest Rs. 200 Crore More in GoDigit Insurance
Published On 24 Jul 2019 By Prashant Srivastava
Fairfax, a financial holding company based in Toronto, is planning to make an additional investment of Rs. 200 Crore into GoDigit General Insurance Company. Last year, Fairfax had invested Rs. 305 Crore. If the Toronto-based company invests this year, the total funding in GoDigit that runs Digit Insurance will reach Rs. 1,000 Crore during this fiscal year. Thus, this Indian-based general insurance company will become one of the best-funded startups in the insurance industry.
Kamesh Goyal, chairman of Digit Insurance, said, “We are growing our businesses and incurring losses as these are initial years."
Based in Toronto, Fairfax Financial, as a financial holding company, is engaged in casualty, property, and life insurance and reinsurance, insurance claims management and investment management. The company is run by Canadian billionaire, Prem Watsa.
In addition, GoDigit is an online general insurance company that deals with a wide range of insurance products. It was started by Kamesh Goyal in October 2017.