India
India has 0.7% general insurance penetration
India's Finance Minister P. Chidambaram has called on the general insurance sector to increase its penetration across the country.
United India wants to expand agriculture insurance to Maharashtra
United India Insurance wants to sell agriculture and weather products in Western India.
India's government wants monthly insurer reports
Monthly reports in India to show progress, hurdles and new measures at insurers.
Indian regulator weary of fake insurers
The Insurance Regulatory and Development Authority in India has warned the general public to be careful of logistic services providers selling insurance illegally.
Non-traditional capacity hits Asian market at April renewals
Dynamic capital growth and ample reinsurance capacity resulted in a relatively stable renewal at April 1, 2013, according to Guy Carpenter.
Building collapse in India kills over 60
74 people died and over 60 have been injured following the collapse of an unfinished building in Thane, a suburb of Mumbai.
India's banking secretary confirms 20bn rupee energy fund
India’s Banking Secretary Rajiv Takru has confirmed that the country will establish a 20bn rupee (€283m) insurance fund to cover refiners buying crude from Iran.
‘Worrying trend’ for over-regulation making UK market less competitive
Rising regulatory costs are becoming a financial burden the UK’s insurance market can ill afford in the face of international competition, Lloyd’s finance director Luke Savage has warned.
Energy pool could allow Indian refiners to keep processing Iranian oil
India’s government is rumoured to be establishing a multi-million-dollar insurance pool to support local insurers giving coverage to refiners processing Iranian crude oil.
Global insurer body calls for more foreign investment in India
The Global Federation of Insurance Associations is encouraging the Indian government to take steps to open up the insurance market further.
Future Group to sell GI stake
Future Group today entered into a non-binding agreement to merge L&T General Insurance with Future Generali India Insurance, according to reports in the local media.
Government panel recommends unified Indian regulator
An Indian government panel wants a unified financial regulator.
India's banks may need subsidiaries to sell insurance
Banks in India might need to set-up subsidiaries to sell insurance according to a source at the Insurance Regulatory Development Authority.
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.