Lloyds to launch India operations in 2017
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 ...
