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International

AXA Re receives approval to open branch in India

June 08, 2017 Reprints

France-based reinsurer AXA Re is set to open a branch in India after it received the second level of regulatory clearances or R2 from the Insurance regulatory Development Authority of India, India Today reported citing the Press Trust of India.

The reinsurer plans to complete its capital infusion program soon to receive the final round of regulatory clearances or R3 and begin underwriting business in the country by July.

"With a direct branch in the country, we will expand our portfolio into other general insurance segments of the country," a source at AXA Re said.

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AXA Re receives approval to open branch in India

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