India
India's middle class boom not confined to megacities
Firms looking to supply goods and services to India’s growing middle classes should not ignore those in smaller towns and cities, according to Ambitabh Kundu, Professor of Economics, Jawakarlal Nehru university.
Weather and emerging markets key 2013 risks, warns Willis
Extreme weather and a new generation of emerging markets are among a new list of risks faced by businesses over the next 12 months identified by Willis.
Agricultural insurance could rise 'three to four times' in emerging markets, says Swiss Re
Increases in agricultural production and lack of insurance cover in Asian countries is good news for the emerging market agricultural insurance sector, according to Swiss Re.
Loophole allows Iran to charter India-insured vessel
The National Iranian Tanker Company has chartered a vessel covered by India's state-owned insurers, taking advantage of a loophole in the policy.
Emerging Asia to lead life insurance growth, says Swiss Re
Reinsurer believes life insurance premiums will grow by about 10% in real terms this year in emerging Asia.
Indian general insurers look overseas
New India Assurance, United India Insurance, Oriental Insurance and National Insurance want overseas growth.
Flightsurance bought by 2e Systems
Travel insurance start-up Flightsurance has been acquired by 2e Systems, a technology provider for the travel industry with offices in London and Frankfurt, for an undisclosed fee.
India considers allowing sub-brokers to sell insurance
Plans are under review by the Indian insurance regulator to allow sub-brokers to sell insurance in India.
New India fined for two year delay paying medical claim
Unit Trust of India Technology Services and The New India Assurance Company have been fined Rs 25,000 after incorrectly deducting money from a policyholders medical claim.
Online sales in Asia: ready to take off
Internet access in Asia is growing at 30% a year. Neera Bhardwaj discovers whether this is translating into online sales for the region’s insurance market.
Asia reinsurer launches with $550m of capital
Hong Kong-based reinsurer Peak Re is trying to remedy what it describes as an "appalling" amount of underinsurance across the Asia Pacific region.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven days.
Punjab National Bank gets go-ahead for Metlife acquisition
Punjab National Bank has received approval to acquire a 30% stake in insurer Metlife India Insurance.
IRDA relaxes residence requirements for micro-insurance buyers
India's Insurance Regulatory and Development Authority has relaxed a rule requiring micro-insurance applicants to provide a confirmation letter from their bank, describing it as a barrier to financial inclusion.
United India to boost salesforce
United India Insurance Company will recruit 7,000 agents in the next three months, the firm's managing director told local press.
At least 20% of cars in India thought to be uninsured
Almost a third of cars on Indian roads may not have mandatory third-party liability insurance, according to analysis by insurance companies.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven days.
HSBC India faces legal action over allegation of insurance fraud
An HSBC shareholder is threatening legal action against HSBC India for insurance fraud, pending the outcome of a regulatory investigation.
Will Indian FDI hike spell exit for Indian partners?
While the rest of the world touts the raising of the foreign direct investment level in insurance as a big growth opportunity, Neera Bhardwaj discovers that Indian partners see it as an opportunity to leave.
Marsh launches 12th global energy hub in Mumbai
Marsh has launched its 12th global energy hub in Mumbai to serve the risk and insurance needs of the growing oil and gas sector in the region.
Indian union threatens walkout over proposed FDI hike
An Indian trade union has threatened to go on strike if a proposal to raise the cap on foreign direct investment in the insurance sector is passed by parliament.
Asia-Pac insurance technology growth expected to dwarf "pedestrian" Europe
Asia Pacific insurers will increase technology spending by 8% to $18.2bn in 2013, according to a new report.
IRDA raises cap on infrastructure investments
India's regulator has relaxed rules limiting insurers' investments in infrastructure in a bid to encourage the flow of funds to the sector.
United India to enter Middle East and South Asia markets
State-owned United India Insurance Company plans to enter the Middle East and several South Asian countries owing to the large number of non-resident Indians living in these areas.