Under the tariff era till last year, underwriting was not the focus of insurance companies as tariffs ensured profitability. Detariffing has brought in sharp focus the core value of underwriting to non-life companies. This may push insurers towards areas of specialisation based on the foreign partner's technical strength and reinsurance tie-ups. Already moves towards selecting ...
The sense of aggression in the detariffed general insurance market is palpable. A trend of market segmentation is beginning to emerge as competition among the eight private insurers and four nationalised players is hotting up fiercely. While the overall growth is expected to decline significantly this year, interestingly, the last nine months in a tariffed regime up to December...
India is turning out to a crucial market for UK insurer Royal & SunAlliance with premium from India accounting for almost 25 percent of Asia & Middle East''s gross written premium for Royal & SunAlliance. The group expects the Indian market to double again in the next five years substantially increasing the region''s share in world insurance. With the Indian market...
Antony Jacob, currently CEO, Royal Sundaram, India has been appointed as Regional Finance Director - Asia & Middle East, Royal & SunAlliance Insurance Group. In his new overseas appointment, Antony will be based in Dubai and will continue to remain involved with the Indian business as a Non-Executive Director on the Board of Royal Sundaram. His new responsibilities will cover...
General Insurance market in India is likely to double in the next four years to about Rs.40,000 crore of premium income by 2010, in a repeat performance of what happened during the last five years. Total premium income reported by general insurers in the country increased two fold to Rs.20,957 crore in 2005 from Rs.10,290 crore in 2000, following the entry of private players. Its...
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