Liberty General Insurance Eyes On Opening 100 New Branches This Year
Updated On Jan 22, 2020
One of the trusted names in the private sector insurance industry, Liberty General Insurance (LGI) is planning to open 100 new branches and scale its business by the end of this year. The insurance provider is also interested in looking at new products and distribution tie-ups. Half of the branches will be virtual offices and the remaining ones will be mortar and brick branches. Moving forward to achieving its goal, LGI has already opened 55 offices out of 100 new branches in 2019.
Roopam Asthana, CEO and Whole Time Director, Liberty General Insurance, said, “We are looking at geographical expansion. During the first six years, we had 60 branches. Now that we are at over Rs. 1,000 crore of premium and our systems are established, we have decided to grow geographically in Tier-2/3 cities.”
The insurance provider is also working on certain products in many other segments like property and title insurance, cyber insurance as well as events, and mergers and acquisition.