India
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.
Insurance Insight - Regulation not restriction
In this latest digital edition Insurance Insight looks at the close eye Asian insurers are keeping on regulation with the growing emphasis on a hands-on approach by regulators.
The emerging business travel risk
Global travel is an important part of today’s business world, but as Pat Drinan explains increased compliance issues can come with insuring risks across borders.
Italy's SACE expands in India with permanent Mumbai office
Italy-based credit insurer SACE SpA has launched its Indian operations with the establishment of an office in Mumbai.
III plans Apac expansion
Singagpore-based India International Insurance Pte, a joint venture of India’s five State-owned insurance companies, plans to expand operations into Vietnam and Malaysia in the coming years.
United India may shed loss making lines
Stemming underwriting losses will be Milind Kharat's first task as the head of public Indian insurer United India Insurance Company, the new chairman has said.
Blog: Why the FDI backlash?
Few concepts in recent times have divided Indian public opinion more than foreign direct investment.
Willis implements Sequel software in UK and India
Willis Re, the reinsurance arm of global broker Willis, has implemented Sequel’s Eclipse broking software.
Delhi drivers to face emissions-linked insurance
Motor insurance in India may soon be linked to a vehicle's emissions as part of new regulations aimed at cutting pollution in Delhi.
Petroleum and gas secretary front runner in IRDA chairman race
Girish Chandra Chaturvedi is being tipped to take the helm of India's Insurance Regulatory and Development Authority when the term of current chairman J Harinarayan comes to an end early next year.
United India reports 18% rise in GWP and improved COR for H1 2012
United India Insurance Company has reported an 18% rise in gross premium in the half year ended 30 September 2012 at Rs. 4,757 crore against Rs. 4,033 crore in the same period in 2011.