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Global reinsurers look to gain foothold in India


Global reinsurers are looking to enter the Indian market, The India Express reported.

An official at Munich Reinsurance Co. said that by 2020, more than €1 trillion ($1.354 trillion) in additional premiums will be generated in Asia.

Ludger Arnoldussen, management board member at Munich Re, said "at the moment our reinsurance premiums from India are about €30 million ($40.6 million)."

Victor Peignet, CEO of SCOR Global P&C S.E., said "we hope to have a branch office in India conducting reinsurance business."

At present, General Insurance Corp. of India Ltd. is the only reinsurer in the country.

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