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India: New players enter general insurance sector

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At least three new insurers have entered the Indian general insurance sector in the past two years amid improved profitability and good growth potential in the sector, The Hindu Business Line reports.

The most recent player to enter the sector is Kotak Mahindra Bank Ltd., which recently announced plans to set up its own general insurance unit.

There has been an improvement in the profitability trend for general insurers in the country during the last three years, said Liberty Videocon General Insurance Co. Ltd. CEO Roopam Asthana.

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