Munich Re has set up a service company in India, in a move which it said would strengthen long-standing relations with Indian insurers.
By setting up Munich Re India Services Ltd, clients would be able to take advantage of a wide range of local support services, said the reinsurer.
Dr Detlef Schneidawind, member of the Munich Re board in charge of global life and health reinsurance, said: "India will profit greatly from further liberalisation and the continual opening of the insurance sector to international insurers and reinsurers, and our clients will benefit from our stronger presence in terms of a more intensive exchange of knowledge in the areas of risk management and product design."
