Insurance firms line up as FDI increase looms

New players are eyeing a pie of India’s R221,400-cr insurance industry following last month’s Cabinet’s approval to raise  foreign direct investment (FDI) cap in the sector from the current 26% to 49%.

While Magma HDI General Insurance and Liberty Videocon General Insurance have commenced operations, Avantha group  has entered into a joint venture with Germany’s Ergo Insurance Group to form Avantha Ergo Life Insurance. Read more

International Insurance news: Foreign insurers enter Myanmar market with hope, caution

The world’s top insurance firms are setting their sights on Myanmar, steeling themselves for a fight with corruption and  ghosts from the nation’s political past.

Prudential Plc, AIA Group Ltd and Manulife Financial Corp are among the global insurance giants preparing to enter  Myanmar as the government rolls out a framework for the sector’s development with the lifting of European and U.S.  sanctions. Read more