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Member, Beacon International Group, Ltd.
Ulrich Wallin, chief executive of Hannover Re S.E., has said that the reinsurer has decided to establish a branch in India, reported The Hindu BusinessLine.
"We will be applying (to the insurance regulator) for branch approval," said Mr. Wallin. "It would be considered a success if we are able to set up a branch here before March 2016," added Mr. Wallin. Hannover Re currently has a “service office” in the country's Delhi and Mumbai cities. The reinsurer writes about $130 million in the Indian market annually.