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.