Global reinsurers face challenges in India
Tuesday, 02 07 2017, Category: Insurance and Reinsurance, Country: India
Global reinsurers are piling into India in search for growth. A number of foreign reinsurers have recently received approval to open a branch in India. The list includes Swiss Re, Munich Re, Lloyd’s, Hannover Re and XL Catlin.
Reinsurers are excited about India because of the insurance growth potential they see for the country. Drivers for growth are the bright economic outlook on the one side and a low insurance penetration on the other.
However, this is likely to increase competition in an already soft market, according to experts speaking to Intelligent Insurer.
Source: Intelligent Insurer