IPO driven by Fairfax's need to reduce stake to below 10%: Bhargav Dasgupta

He says, company has adequate capital for now and does not need fresh infusion through markets

Ahead of the first initial public offering (IPO) of a general insurance company, Bhargav Dasgupta, managing director and chief executive officer of ICICI Lombard, tells Subrata Panda in an interview that the company has adequate capital for now and does not see a need for fresh infusion through markets over the next few years. Edited excerpts:

The scenario for general insurance companies is that people get a policy only for a year and then go in for renewals. So, how does it work in terms of penetration?

For general insurance companies, the penetration starts picking up when the per capita income of