The report titled “Asia-Pacific Insurance Market Outlook to 2016 – Growth Opportunity in India and China” provides a comprehensive analysis of market size of the insurance industry on the basis of countries such as Japan, China, South Korea, Taiwan, India and Australia, market segmentation of life and non life insurance industry. The report also entails the value chain of Asia-Pacific insurance market. The report also provides competitive landscape and profile of major players operating in the insurance industry.Read more
The largest general insurer New India Assurance has targeted a net profit of Rs 600 crore this fiscal and planned expansion of its foreign operations in 2013-14. Read more
The Reserve Bank of India (RBI) has extended the date for implementation of Basel III, the global capital norms for banks, by three months to 1 April.Â â€œThe Reserve Bank of India has rescheduled the start date for implementation of Basel III to 1 April 2013 from 1 January 2013,â€ the central bank said. Read more
The Asia-Pacific region is one of enormous growth and opportunity for insurers. It is also one of significant diversity. In developing countries, agency sales forces dominate and play a vital social role in making products accessible to low earners. The development of insurance markets in western- Developed countries, however, indicates that the emergence of more independent, but also expensive, distribution channels often ultimately leads to the demise of traditional agency sales forces. Read more
Willis Group Holdings (WSH: NYSE), the global insurance broker, has launched its unique directorsâ€™ all risks cover (DARCstar) in Australia, Hong Kong and Singapore.
DARCstar policies have already been written for a number of global companies. The policy has been launched in the United Kingdom, Spain, Sweden, Israel and Columbia with plans to extend the wording to other jurisdictions including New Zealand, Argentina, Chile, France, Germany, Mexico and the Netherlands. Read more