India News

Lloyd’s Begins Operating in India with MS Amlin as 1st Underwriter

Lloyd’s, the specialist insurance and reinsurance market, announced it has begun to operate in India with MS Amlin as the first Lloyd’s business to join the branch and begin underwriting. Lloyd’s India will act as a domestic reinsurance branch of …

XL Catlin Opens Shared Services Office in Gurgaon, India

XL Catlin has opened a shared services office, covering three floors at DLF World Tech Park in Gurgaon, India. The new office will provide “vital underwriting support, claims administration, actuarial services, finance and accounting for XL Catlin’s teams across the world,” the …

Swiss Re to Open a Reinsurance Branch in India

Swiss Re has received the approval from the Insurance Regulatory and Development Authority of India (IRDAI) to open a branch in Mumbai. With the composite branch license, Swiss Re will be able to operate in India and offer both non-life …

XL Catlin Gets Approval to Open Reinsurance Branch in India 

XL Catlin’s reinsurance business group that it has received final approval from the Insurance Regulatory Development Authority of India to open an onshore reinsurance branch office of XL Insurance Company SE. The operation, which will be based in Mumbai and …

Lloyd’s to Open India Branch Ahead of April Renewals

Lloyd’s, the specialist insurance and reinsurance market, announced plans to open a reinsurance branch in India, in time for the April major reinsurance renewals, following final regulatory approval from the Insurance Regulatory Development Authority of India (IRDAI). This will enable …

India to Open High-Tech Financial Hub for Banks, Insurers

Prime Minister Narendra Modi is set to inaugurate an international exchange in Gujarat state’s new finance zone, seeking to grab some of India’s $48 billion in offshore banking activities from Singapore, Dubai and Hong Kong. The India International Exchange, at …

Canada’s Fairfax Gets Approval to Buy 51% of India’s Catholic Syrian Bank

Value investor Prem Watsa’s Fairfax Financial Holdings Ltd. won regulatory approval to buy 51 percent of Catholic Syrian Bank Ltd., marking the first time India’s central bank is allowing a foreign investor to purchase a majority stake in a domestic …

Hannover Re Receives License to Launch Branch in India

Hannover Re received approval, known as R3 authorization, to establish a branch in India from the Insurance Regulatory and Development Authority of India (IRDAI). The opening up of the Indian market to foreign reinsurers enables Hannover Re to enjoy direct …

SCOR Authorized to Open India Branch Office to Write Life, P/C Reinsurance

The Insurance Regulatory and Development Authority of India (IRDAI) has granted SCOR “R3 authorization,” allowing the group to open a composite branch office in India to conduct life and P/C reinsurance business. SCOR has been writing business with Indian clients …

Emerging Risks/Markets Offer New Opportunities: 2017 Predictions, Part 3

Insurers and reinsurers continue to look for organic growth where they can find it – sometimes from emerging risks and sometimes from emerging markets. As always, the keys to success are market knowledge and patience. Providing a heads-up for such …