India
Indian insurers allowed to make alternative investments
The Indian regulator has ruled that insurers can broaden their allocation of assets into alternative investment funds.
India set for strike over premium hike
Transport association in India unhappy over a rise in third party insurance premiums.
Asia-Pacific premiums to double by 2020, says Munich Re
Munich Re's Economic Research Department estimates that nearly half of the $2.8trn of additional premiums to be generated by 2020 across the world will be from the Asia-Pacific region.
Indian regulator reviews broker regulations
The Insurance Regulatory and Development Authority, India's insurance regulator, has formed a committee to review insurance broker regulations.
Indian refiners to halt Iranian oil imports
India’s oil refiners may cease crude imports from Iran next month as a result of their inability to access cover due to Western sanctions, the head of its largest refiner has said.
A new chapter for India
With new bancassurance rules for the Indian market expected in August, Neera Bhardwaj asks whether industry stakeholders can reach a consensus, and what the final guidelines are likely to look like.
New India launches online service
The internet service from New India Assurance will allow personal policyholders to track claims, link policies and make renewals, in addition to allowing new customers to take out insurance.
New India targets 55 000 more agents
New India Assurance wants to more than double its agency base in India and will open three more offices overseas.
Finance Ministry approves bancassurance in India
The 2013/14 Indian Budget has confirmed banks will be able to sell insurance in India and has also given insurers the ability to open up quickly in smaller towns.
QBE planning 700 job cuts: report
QBE will cut 700 jobs across its worldwide operations according to a report from a media briefing held by the insurer and reinsurer.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven days.
Indian insurers want tax breaks for personal insurance
The insurance industry in India is calling for tax breaks on personal cover such as home, personal accident and travel to help increase access to the products across the country.
Vijayan appointed chairman of Indian regulator
The Indian government has appointed T S Vijayan, former head of the Life Insurance Corporation, as chairman of the Insurance Regulatory and Development Authority.
Autorickshaw unions in India complain about insurance hike
The Insurance Regulatory and Development Authority in India wants to increase third party premiums for autorickshaw drivers annoying autorickshaw unions.
Indian watchdog hits SKS with Rs50 lakh fine
Shares in Indian finance firm SKS Microfinance fell 2.39% after it was fined Rs50 lakh by the Insurance Regulatory and Development Authority.
Two day strike hits Indian economy
Hundreds of thousands of private sector and government employees are on strike in India protesting over government reforms.
United India Insurance targets rural retail growth
The United India Insurance chairman and managing director wants to increase premiums to 10bn rupees ($1.84bn) by the end of the fiscal year.
India to insure oil refineries that trade with Iran
Despite western sanctions on Iran, the Indian government will step in to make sure its oil refineries have sufficient insurance so they continue refining crude oil imported from Iran.
United India sells crop insurance
Publicly owned United India Insurance is now selling crop insurance products as part of a tie-up with Agriculture Insurance Company.
Europe View From the Top: Risk engineering when growing abroad
Higher costs of living, lower real wages and reduced access to credit has had a direct impact on the profitability of UK companies. This combined with the Eurozone crisis has taken its toll on UK export growth and investment.
Will sub-brokers in India make a difference?
Neera Bhardwaj asks if the expected allowance of sub-broking in India will really shake up the retail insurance landscape.
Where is the service culture?
Praveen Gupta, ceo and country manager of Raheja, QBE in Mumbai, and senior member of the Chartered Insurance Institute, wants emerging markets in Asia to place less emphasis on sales and more on service.
Listings for government owned insurers in India on hold
According to a senior official at the Indian finance ministry, the government has put off plans to list state run insurers as their financial health is not conducive.
Indian regulator asks for fraud review at insurers
The Insurance Regulatory and Development Authority in India has sent a letter to the chief executives of insurers and reinsurers in India setting out its fraud regulatory framework.