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The Dollar Business Bureau London based reinsurer, Lloyd’s, is set to commence its India operations in Mumbai at the beginning of next year. The company has already applied for a licence to the Insurance and Regulatory and Development Authority of India (IRDAI), to operate in India. At present, the company provides offshore insurance to Indian businesses overseas. The London-based specialist insurance solution provider may start its Indian operations on a smaller scale before scaling up its operations gradually. The company is predicting 8-10 percent growth rate in the Indian market. After Lloyd’s starts its operations in India, it will gradually enhance its business in the neighbouring countries including Nepal and Sri Lanka. John Nelson, Chairman of Llyod’s feels that India is an extremely competitive market for ...

Jayarama Emani | The Dollar Business “Domestic investments in Insurance Sector will match with Foreign Direct Investments (FDI) sooner or later,” said Mr T S Vijayan, Chairman, Insurance Regulatory and Development Authority of India. Talking to The Dollar Business at Hyderabad after releasing a CII report on “India Insurance Vision 2025: Building a USD 250 billion customer centric and value creating industry”, Mr Vijayan said that apart from FDI, other factors like stabilisation of the economy and Gross Domestic Product (GDP) growth will also determine the growth of the Insurance Industry in India especially with regards to penetration. Under the aegis of CII National Committee on Insurance & Pensions, CII had commissioned the Vision Document on “India Insurance: Vision 2025” ...