August 15, 2016
Liberty Mutual Insurance Group is increasing its overall interest in its non-life insurance joint venture company, Liberty Videocon General Insurance Co. Ltd., from 26 percent to 49 percent. The increase was enabled as a result of changes in local regulations …
April 22, 2016
India will get its first life-insurance listing since it opened up to private-sector investors 16 years ago, paving the way for more companies seeking to go public in an industry that’s since grown to more than $50 billion. Housing Development …
April 1, 2016
Lloyd’s announced it intends to file an application to open a reinsurance branch in Mumbai, following the publication of regulations governing the Lloyd’s market earlier this week by the Insurance Regulatory and Development Authority of India (IRDAI). An onshore branch …
March 18, 2016
Lloyd’s announced the appointment of Shankar Garigiparthy as country manager for India. In this new role Garigiparthy will be responsible for market development, representing Lloyd’s in discussions with regulators and building business relationships as Lloyd’s seeks to grow its presence …
February 5, 2016
India’s decision to join a global treaty on nuclear accident liability may help it woo reactor suppliers, including Westinghouse Electric Co. and General Electric Co., that have been reluctant to sell technology to the nation. The country ratified the Convention …
January 26, 2016
Munich Re will acquire an additional 23.27 percent of shares of Apollo Munich Health Insurance Co. Ltd., from its joint venture partner, the Apollo Hospitals Group, India, increasing its shareholding from 25.5 percent to 48.75 percent. Representatives of both companies …
January 25, 2016
Alice Vaidyan has been appointed as chair and managing director of General Insurance Corp. of India (GIC Re), the national reinsurer. She is the first woman to be appointed as chair in the history of Indian insurance industry. Vaidyan previously …
January 21, 2016
XL Catlin announced it has begun the licensing process to establish a reinsurance branch in India. The decision to pursue market entry into India aligns with XL Catlin’s strategy of establishing a presence in emerging and developing markets where economic …
December 3, 2015
As the flood-ravaged Indian city of Chennai prayed for respite from torrential rains, a trade body said losses to businesses from the record downpour could reach more than 150 billion rupees ($2.2 billion).* Water discharged from overflowing lakes and reservoirs …
October 26, 2015
Afghanistan’s strongest earthquake in more than six decades shook buildings across South Asia, prompting officials from Kabul to Islamabad to New Delhi to send out rescue teams to search for survivors. More than 130 people have died. A 7.5 magnitude …