Changes will allow foreign firms to own 49% and open offices
Peter Akers, CEO of Munich Re India Services says insurance sector reforms to raise foreign direct investment in insurance companies to 49% from 26%, will also allow it to open a branch in the country, Reuters reports.
"It will enable us to serve our clients better," he said. Currently Munich Re operates in India through the so-called "service company" model.
Akers expects more life insurance companies to enter the Indian market after the reform bill is passed, further increasing demand for reinsurance.
Munich Re had a 22% share of the life reinsurance market in India for the year to March 2009, he said.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
