L&T General Insurance which is subsidiary of Larson and Tubro Ltd who is entered into market to try its hand in Insurance sector. L&T General Insurance will be the 24th player in the general insurance business.

L&T General Insurance is one of the rare insurance companies when it comes to the ownership. It is good to know that L&T General, which is a 100% subsidiary of Larson and Tubro Ltd. Company will not be partnering with any foreign company for float joint venture.

Chief Executive, Joydeep Roy of L&T General Insurance Company told reporters in Mumbai that initial capital base of the L&T general insurance venture will be Rs 110-crore.

The insurer would provide a complete range of retail and institutional solutions catering to individuals, small and medium enterprises and corporates across urban and rural markets. The company will be having its branches in major cities of India at the start of its business.

Health Insurance is one of the segments on which general insurer will focus its business. Apart from health company will provide various other insurance products such as motor, Personal Accident, Home insurance, Travel Insurance and Commercial Insurance.

L&T General insurance which is promoted by the India’s engineering giant Larson and Tubro, who is entered in the business with the high expectations from market. Hopefully it will bring a quality service to cater the needs of their client effectively and will meet those expectations successfully.