Lloyd's Welcomes India's Insurance Bill

India's Parliament has amended its Insurance Act to further liberalise the Indian insurance market, and enable foreign reinsurers, including Lloyd's, to establish onshore branches. The move is expected to stimulate the industry and India's economy.

"I warmly welcome the news that India's Parliament has now passed the Insurance Bill. This is great news for Lloyd's as the Bill allows the Lloyd's market to operate in India. We are grateful to the Indian government and authorities for their support in reaching this point and look forward to working together as the legislation is implemented." – said John Nelson, Chairman, Lloyd's.

Source : Equity Bulls

Keywords