XL Catlin applies for license to set up reinsurance branch in India

Insurer and reinsurer XL Catlin has applied for reinsurance license in India, reports Business Standard.

XL Catlin said that it has started the licensing process to set up a reinsurance branch in the country. XL Catlin said it expects to start its Indian operations in late 2016. The Indian market "needs a reinsurer with global scale and technical capabilities, with underwriters based locally who understand the risks and can offer breadth of product," XL Catlin's chief executive of reinsurance Greg Hendrick said.

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