Lloyd's looks to India

Lloyd's of London is looking to establish reinsurance operations in India, reported NDTV citing the Press Trust of India.

Lloyd's is in talks with the country's Insurance Regulatory and Development Authority.

"Lloyd's has informally approached IRDA for expansion," and "they have been waiting for the passage of the Bill to take this forward," said T S Vijayan, chairman of the IRDA.

Lloyd's might consider setting up branches in the country, Mr. Vijayan added.

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