India
Indian Reserve Bank says case for FDI hike exists
The Reserve Bank of India has said there is a case for raising the foreign direct investment cap in insurance in view of India's growing integration with the global economy.
IRDA asked to relax branch opening rules in rural areas
India's government has asked the country's insurance regulator to be more lenient when applying branch opening norms in rural areas in the hope that the presence of more insurance firms will increase insurance penetration.
China considering sovereign guarantees to keep oil flowing
China will review the possibility of sovereign guarantees to enable the nation's ships to import Iranian crude oil after EU sanctions come into effect in July, the head of the China Shipowners' Association has said.
India's GIC Re considering IPO
General Insurance Corp of India is believed to be considering an initial public offering.
Countdown to ISA: Q&A with Axa Asia's Prasanna Patil
As part of a series counting down to Insurance Strategy Asia, Insurance Insight spoke to Prasanna Patil about his views on the Asian insurance market.
India's sovereign rating placed on negative watch
India's sovereign credit rating has been revised from 'stable' to 'outlook negative' by Standard & Poor's, indicating an increased possibility of the rating being downgraded.
Tata AIG launches lifetime renewable health policy
Tata AIG General Insurance Company has launched its lifetime renewable reimbursement health insurance policy in India.
Indian ship owners vow to carry Iranian oil despite reduced cover
Sanctions-hit Indian shipping firms will continue transporting Iranian crude oil, even if restricted insurance coverage leaves them financially exposed in the case of a spill or accident, industry sources have said.
Bajaj Allianz General appoints Singhel as CEO
Bajaj Allianz General has named Tapan Singhel as managing director and chief executive officer.
Indian government considering mis-selling role for ombudsman
The Indian government is considering expanding the remit of the insurance ombudsmen scheme to cover mis-selling of insurance products.
India's general insurance market posts 23% premium growth
India's general insurance market achieved premium income growth of 23% for the full year 2011.
Indian university makes group insurance scheme mandatory
Bharathidasan University in India is reported to have made it mandatory for all 116 affiliated colleges to join the group insurance scheme for students from this academic year.
Indian chairman of Bar Council demands insurance scheme
The newly elected chairman of the Bar Council of India, Manan Kumar Mishra, has demanded an insurance scheme for lawyers.
Indian court says firm must pay claims in cheque bounce case
India's Supreme court has upheld an insurance company's obligation to pay third-party claims, even if the insured's premium has gone unpaid.
Bharti Axa aims to grow with focus on coastal cyclone-prone areas
Indian insurers must raise awareness of the need for insurance in cyclone-prone coastal areas, according to Amarnath Ananthanarayanan, chief executive and managing director of Bharti Axa General Insurance.
Irda supports state-backed health scheme
India's Insurance Regulatory and Development Authority has come out in favour of a government-backed health insurance scheme.
India's domestic market faced restrictions at renewals
Despite positive results in the Indian domestic market, insurers faced problems similar to their Asian counterparts at the April 1 renewals, according to Guy Carpenter.
IAG continues Asian expansion with Vietnam acquistion
Insurance Australia Group has entered into a conditional agreement to acquire 30% of Vietnam-based AAA Assurance Corporation.
GWP of global non-life insurance to reach $2,500bn by 2017
The global non-life insurance industry saw moderate growth during 2006-2011 and the growth momentum is expected to continue, reaching an estimated $2,500bn in 2017 with a CAGR of 4.2% over the next five years, according to Lucintel.
Insurance Insight – top 10 stories
The top 10 most popular articles published on insuranceinsight.eu over the past seven days.
Mitsui Sumitomo to acquire 26% stake in New York Life
Japan's largest casualty insurer plans to acquire a 26% stake in Max New York Life Insurance Co to expand its business in the Indian insurance market.
Insured losses from Sumatra earthquake 'not significant'
Yesterday's 8.6 magnitude earthquake in Indonesia is not expected to cause significant insured losses, according to catastrophe modelling firm AIR Worldwide.
India's foreign direct investment u-turn hits IPO plans
The Indian government's move to defer the easing of foreign direct investment in insurance will scupper the plans of large companies considering initial public offerings and may push consolidation, according reports in the Indian press.
Insurance Insight – top 10 stories
The top 10 most popular articles published on insuranceinsight.eu over the past seven days.