New players are eyeing a pie of India’s INR2.21 trillion (US$40.2 billion) insurance industry following the Cabinet’s approval last month to raise foreign direct investment (FDI) cap in the sector from the current 26% to 49%, reported the Hindustan Times. A partner of KPMG was quoted as saying that there is room for some 15 more players in the sector, going by the current low penetration of insurance products in the country. Read more
The world’s top insurance firms are setting their sights on Myanmar, steeling themselves for a fight with corruption and Â 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 Â Myanmar as the government rolls out a framework for the sector’s development with the lifting of European and U.S. Â sanctions. Read more