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International

Lloyd's permitted to set up business in India

November 16, 2015 Reprints

India's Insurance Regulatory and Development Authority has allowed Lloyds of London to set up business in the country, reported NDTV.

"Consequent upon promulgation of Insurance Laws (Amendment) Act, 2015, Lloyd's U.K. has been permitted to set up branch office in the country," the regulator said.

The regulator has also floated draft rules and regulations related to the reinsurance sector.

The regulator said that Lloyd's U.K. shall set up Lloyd's India and the regulation will cover Lloyd's India's both registration and operations.

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Lloyd's permitted to set up business in India

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