India - Reinsurer Lloyd's gets license to operate
Tuesday, 11 08 2016, Category: Insurance and Reinsurance, Country: India
Insurance Regulatory and Development Authority has approved London headquartered specialist insurance and reinsurance market Lloyd’s application to provide onshore reinsurance services in India.
Lloyd’s, which secured R1 approval from IRDA, plans to set up a branch in India next year.
John Nelson, Chairman, Lloyd’s said it can bring unique benefits to India by providing both protection and new opportunities for many domestic insurance businesses.
Source: The Hindu Business Line