Regulator likely to approve foreign reinsurance branches in India

The board of India's Insurance Regulatory and Development Authority is likely to give final approval to some foreign reinsurers to set up branches in the country on June 30, reported Business Standard citing the Press Trust of India.

The regulator has received six applications by foreign reinsurers to start direct business in the country.

Sources said that three reinsurers could get the final approval in this round.

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