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India: Insurers likely to turn cautious on possible El Nino threat

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India's nonlife insurers are likely to turn cautious, particularly in the crop and weather insurance segments, due to fears of a possible El Nino threat, industry officials said.

Bharti Axa General Insurance Co. Ltd. chief executive Amarnath Ananthanarayanan said "an El Nino can push up rates," Business Standard reported.

On the other hand, Tata AIG General Insurance Co. Ltd. chief executive K.K. Mishra said "domestic firms will only react post-event."

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