India insurance giant to focus on Takaful to boost Mena growth

India’s General Insurance Corp (GIC Re), the 15th largest re-insurer in the world, is planning to convert its Dubai office into a subsidiary as part of strengthening the Middle East and North Africa (Mena) business from which it generated premium worth $385mn.

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Insurance News: Bharti Walmart probe may invoke insurance cover worth $5 million

Bharti Walmart’s insurance cover against litigations and scandals faced by its directors and senior officers may be triggered as the probe into potential violations of America’s anti-bribery laws by the Indian unit Walmart gathers pace. Read more

International Insurance News: UnitedHealth to buy most of Brazil’s Amil for $4.9 bln

UnitedHealth Group Inc will buy control of Amil Participacoes SA, Brazil’s largest health insurer and hospital operator, for $4.9  billion, making a bold move into a fast-growing market as challenges mount for its U.S. business.

The Brazilian healthcare market has been bolstered by a growing middle class and is turning to managed care to meet demand. It is  expected to grow twice as fast as the U.S. market, UnitedHealth Chief Executive Stephen Hemsley said during a conference call  recently. Read more