Indian market News

Markel India Is Now Open for Business, Providing Specialist Facultative Reinsurance

Markel International, the London-based specialist insurer and reinsurer, announced that its Mumbai office is now open and actively writing business. Markel said it provides specialist facultative reinsurance to local Indian insurers, in a broad range of commercial classes including marine, …

Google Partners with Indian Banks to Attract Users to Its Digital Payments Services

Alphabet Inc’s Google said on Tuesday it is partnering with a handful of Indian banks to bring quick loans to the masses, as it aims to woo tens of millions of new internet users in the country to its digital …

Berkshire Invests $356M in One97, Parent of India’s Biggest Digital Payments Firm

Berkshire Hathaway Inc has acquired a 25 billion rupees ($356 million) stake in the parent of digital payments company Paytm, a source said, its first investment in an Indian startup as it moves into the financial payments sector. The conglomerate …

Modi’s Plan to Provide Health Insurance to Half a Billion Indians Hits Serious Hurdles

Prime Minister Narendra Modi’s plan to provide health insurance to half a billion Indians — a mass of people larger than the entire population of South America — before he seeks a fresh mandate next year is already facing serious …

Generali Expands Stake in India’s Future Group to 49%

Generali Group announced it has signed an agreement with Future Group to increase its stake in its insurance ventures in India to 49 percent from 25.5 percent. Generali’s presence in India is currently in the form of two joint ventures …

Markel Gets License to Underwrite Reinsurance on Lloyd’s India Platform

Markel International, the specialist insurer, has been granted a license by the Insurance Regulatory and Development Authority of India to write reinsurance business in the country. Capacity will be provided by Markel’s Syndicate 3000 at Lloyd’s and written through the …

India Flags Low Health Insurance Penetration as Damper to Growth

India’s push toward universal health care has Prime Minister Narendra Modi’s political opponents worried, a top government adviser said. Modi’s government announced a plan last week to provide health insurance to 100 million poor families, which would cover about 40 …

Japan’s SoftBank Eyes Taking Stake in India Insurance Startup: Sources

SoftBank Group Corp. is in talks to back leading online insurance aggregator PolicyBazaar at a valuation of at least $800 million, according to people familiar with the matter. The two sides are examining how the Japanese company can take a …

Tata Group Predicts Significant Organic Growth Opportunities in Insurance

The Tata Group sees potential for significant growth in financial services without relying on acquisitions, as India’s largest conglomerate looks to sharpen its focus on about half a dozen businesses. “Both our insurance business and non-banking finance company have got …

India’s Tata Consultancy Expects Growth in Insurance Sector

Tata Consultancy Services (TCS) Ltd, India’s top IT services firm, said its insurance services business would soon post faster growth thanks to higher client spending but remained cautious on a turnaround in its key banking segment. Western banking, financial services …