Through Hyundai India Insurance Broking Private Limited, Hyundai Motor India got into the business of insurance in FY22.
As of March 31, 2022, the company had invested Rs 40 million in different tranches in Hyundai India Insurance Broking Private Limited (HIIBPL)
In exchange for this investment, the company was given four million Equity Shares, each worth Rs. 10/-.
Reports say that the total amount of money collected from premiums is about Rs 80,000 crore.
The company will start out by taking care of motor insurance policies but now it also take care of general insurance.
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