Reinsurance News
India
India’s insurance and reinsurance market is dynamic and growing, a key location for global players and with an expanding domestic marketplace.
Read our India insurance or reinsurance news and analysis below.
India’s re/insurance market at inflection point: Mathur, Policybazaar for Business
9th May 2025
India’s risk transfer market is at an inflection point, as reinsurance infrastructure in the country lags the evolution of the rapidly expanding primary insurance market, creating opportunities for new ideas and models, according to Tarun Mathur, Co-founder and Chief Business Officer, Policybazaar for Business. Founded in 2008, Policybazaar is an insurance ... Read the full article
The reinsurance pie in India will increase: Azeem Kanjiani, Prudent Insurance Brokers
23rd April 2025
Insurance companies in India continue to grow and as the primary market expands, insured sizes are on the rise, driving more and more mega and ultra mega insurance policies in the country, all of which suggests growth for India's reinsurance market, according to Azeem Kanjiani, Member Executive Board, Reinsurance, Prudent ... Read the full article
Willis names Anant Pawar as Aviation & Space Leader for India
23rd April 2025
Willis, part of global insurance broker WTW, has appointed Anant Pawar as the Aviation & Space Leader for India, effective immediately. In this new role, Pawar will be responsible for providing strategic insurance broking solutions and specialised services to aviation clients across the country. Pawar brings extensive industry knowledge and leadership experience, ... Read the full article
India reinsurance market conditions improved at 1.4 amid strong demand: Aon
2nd April 2025
Increased competition, capacity and engagement have improved the Indian reinsurance market conditions at the recent April renewals, according to a market update by Aon, a risk management and professional services firm. Aon disclosed that reinsurers are keen to grow in the region, as most placements achieved single-digit reductions for property reinsurance, ... Read the full article
Peak Re granted licence to operate in GIFT IFSC, India
31st March 2025
Hong Kong-based global reinsurer Peak Reinsurance Company Limited (Peak Re) has secured a reinsurance branch licence as an IFSC Insurance Office (IIO) from the International Financial Services Centres Authority (IFSCA) on 20 February 2025 to conduct reinsurance business. The IIO, established in Gujarat International Finance Tec-City International Financial Services Centre (GIFT ... Read the full article
GFIA supports India’s Insurance Act reform to remove foreign equity cap and boost investment
14th March 2025
The Global Federation of Insurance Associations (GFIA), a collective of insurance organisations from across the globe, has expressed strong support for India's recent proposal to amend its Insurance Act. In a letter to India's Finance Minister, GFIA applauded the government's decision to make significant changes to the Insurance Act, particularly the ... Read the full article
India has all the ingredients to become a reinsurance hub: G. Srinivasan, Galaxy Health & Allied Insurance
27th February 2025
According to industry experts, the combination of large carriers, a sizeable market, reinsurance talent, a long-standing insurance market history, and connections to other major markets globally, suggests India is poised to establish itself as a global reinsurance hub. During a recent panel discussion moderated by G. Srinivasan, Managing Director (MD) and ... Read the full article
Shib Shankar Saha to lead newly launched Generali GC&C India
27th January 2025
Italian insurance giant Generali has announced the establishment of Global Corporate & Commercial (GC&C) India within Future Generali India Insurance, on January 1st, 2025, which will be led by Shib Shankar Saha as Head of GC&C India. The move marks the insurer’s entry into the regional market and aims to strengthen ... Read the full article
Aon launches L&H reinsurance practice in India
23rd January 2025
Global professional services firm Aon has launched a life and health reinsurance practice in India to drive new capital into the sector, naming Renuka Nar and Neha Shah to key leadership roles. According to Aon, the new practice will help bring sustainable reinsurance capacity to India’s life and health insurance sector, ... Read the full article
AM Best maintains stable outlook on India’s non-life insurance sector amid strong growth
17th January 2025
AM Best, the credit rating agency, has affirmed a stable outlook for India's non-life insurance sector, citing strong growth potential fuelled by regulatory initiatives and increasing insurance demand. Insurance premiums in India’s non-life segment grew at a double-digit rate for the fiscal year ending 31 March 2024 (FY 2024), as detailed ... Read the full article
India’s insurance market set for growth: Swiss Re
14th January 2025
India's booming economy is fuelling rapid growth in its insurance market, predicted to be the G20's fastest-growing over the next five years, according to Swiss Re. This surge is driven by domestic consumption, private investment, and economic reforms, positioning India to become the world's third-largest economy by 2030, surpassing Germany and ... Read the full article
IRDAI Chairman calls for 100% foreign direct investment in insurance sector
26th November 2024
At the Business Standard's annual BFSI event, the Insurance Regulatory and Development Authority of India’s (IRDAI) Chairman, Debashish Panda called for 100% foreign direct investment (FDI) in the insurance sector to reach the goal of ‘insurance for all’ by 2047, for which a lot of capital is needed. Panda said that ... Read the full article
Lockton enters Indian market with acquisition of Arihant Insurance Broking Services
29th October 2024
The Insurance Regulatory and Development Authority of India (IRDAI) has granted independent insurance broker Lockton regulatory approval for the acquisition of Arihant Insurance Broking Services Limited. Lockton’s strategic expansion into the Indian market aligns with its broader vision to enhance its footprint in key emerging markets, aligning with the company's commitment ... Read the full article
Aviva could face $11m penalty for alleged tax evasion in India
4th September 2024
An Indian tax agency has discovered that British insurer Aviva violated local regulations capping commissions to sales agents by using fake invoices and clandestine cash payments between 2017 and 2023. According to a tax notice issued in early August, Aviva’s India unit paid approximately $26 million to entities that falsely claimed ... Read the full article
India’s insurance SaaS platform Heph launches nationwide
29th August 2024
Heph, the insurance SaaS platform in India and an affiliate of InsuranceDekho, has officially launched, with an advanced platform that provides a wide range of digital solutions aimed at optimising operations for insurance distributors nationwide. Heph's comprehensive technology suite addresses all facets of insurance operations. It integrates front-end customer interfaces with back-end ... Read the full article
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