India Archives - InsuranceAsia News https://insuranceasianews.com/country/india/ Fri, 02 Jan 2026 07:40:55 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 Marsh’s Avishek Rath joins Aon India as head of growth for facultative reinsurance solutions https://insuranceasianews.com/marshs-avishek-rath-joins-aon-india-as-head-of-growth-for-facultative-reinsurance-solutions/ Fri, 02 Jan 2026 07:40:55 +0000 https://insuranceasianews.com/?p=207893 He spent almost two decades at Marsh, most recently as head of the government business group since November 2024.

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Aon India has tapped Avishek Rath as its new head of growth for facultative reinsurance solutions.
In a statement on LinkedIn on Friday, Mumbai-based Rath confirmed his appointment, effective immediat...

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]]> Go Digit General Insurance board approves holding company merger https://insuranceasianews.com/go-digit-general-insurance-board-approves-holding-company-merger/ Fri, 02 Jan 2026 01:00:02 +0000 https://insuranceasianews.com/?p=207871 Move by Indian digital insurer marks the first transaction following changes to India’s insurance laws that allow mergers between insurance firms and non-insurance holding companies.

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The board of India's Go Digit General Insurance has approved the merger of its unlisted holding company, Go Digit Infoworks Services, into the listed insurance entity, according to media reports.
It m...

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]]> Indian regulator fines Reliance General Insurance US$111,000 for violating outsourcing, commission rules https://insuranceasianews.com/indian-regulator-fines-reliance-general-insurance-us111000-for-violating-outsourcing-commission-rules/ Thu, 01 Jan 2026 09:25:21 +0000 https://insuranceasianews.com/?p=207831 Insurance Regulatory and Development Authority of India penalised the insurer after a remote inspection uncovered improper payments, governance lapses and the use of an external agent without adequate justification.

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The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a US$111,000 penalty on Reliance General Insurance after determining it breached multiple regulatory requirements.
The b...

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]]> IFRS 17 timeline ‘question mark’ remains for India, Aon says https://insuranceasianews.com/ifrs-17-timeline-question-mark-remains-for-india-aon-says/ Fri, 19 Dec 2025 07:00:05 +0000 https://insuranceasianews.com/?p=206664 Anthony Atkins, APAC head of actuarial, says the Indian market has been 'quite slow in terms of its IFRS journey', with the deadline reported to have been extended until FY27.

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Uncertainty still remains as to when the burgeoning Indian insurance market will get up to speed with implementation of the IFRS 17 accounting standards, despite considerable regulatory pressure, acco...

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]]> ‘Humming’ India to be priority for insurers in 2026 amid market reforms, GDP growth https://insuranceasianews.com/humming-india-to-be-priority-for-insurers-in-2026-amid-market-reforms-gdp-growth/ Mon, 15 Dec 2025 23:30:38 +0000 https://insuranceasianews.com/?p=206941 Move to allow 100% foreign ownership of insurance companies, and rapid economic growth, will drive a wave of dealmaking.

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Next year is expected to be a big year for insurance M&A in India as the liberalisation of foreign ownership rules and rapid economic expansion fuel interest from global insurers, according to dea...

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]]> India’s cabinet approves 100% FDI for insurance companies https://insuranceasianews.com/indias-cabinet-approves-100-fdi-for-insurance-companies/ Sun, 14 Dec 2025 22:00:22 +0000 https://insuranceasianews.com/?p=206828 Bill is expected to become law by the end of India's winter session of parliament on Friday.

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India’s Union Cabinet has approved a new law allowing 100% foreign investment in insurance companies, as part of a major shake-up of India’s FDI regulations, according to reports on Friday.
The cabine...

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]]> AM Best positive on New India Assurance amid ‘improving’ risk management https://insuranceasianews.com/am-best-positive-on-new-india-assurance-amid-improving-risk-management/ Fri, 12 Dec 2025 07:39:24 +0000 https://insuranceasianews.com/?p=206733 The rating agency has affirmed the financial strength rating of India's largest non-life insurer of B++ and its long-term issuer credit rating of bbb+.

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AM Best has revised its outlook for New India Assurance, India’s largest non-life insurer by GWP, from stable to positive and has affirmed the insurer’s ratings, according to a rating report.
The rati...

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]]> Axa XL India snaps up Vishal Singh Rana as construction underwriter https://insuranceasianews.com/axa-xl-india-snaps-up-vishal-singh-rana-as-construction-underwriter/ Fri, 05 Dec 2025 08:04:12 +0000 https://insuranceasianews.com/?p=206191 Former civil and tunnel engineer previously worked for Prudent Insurance Brokers and Munich Re.

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Vishal Singh Rana has joined Axa XL India as a construction underwriter, according to a LinkedIn update from India reinsurance branch CUO Saumitra Sharma.
Rana (pictured) joins Axa XL having spent the...

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]]> Liberty Specialty Markets revamps APAC underwriting structure with 5 promotions https://insuranceasianews.com/liberty-specialty-markets-revamps-apac-underwriting-structure-with-5-promotions/ Thu, 04 Dec 2025 02:45:56 +0000 https://insuranceasianews.com/?p=206063 Moves for Marcus Thomas, Brett Gardiner, Angelo Maniatis, Shawn Anderson, and Ben Hissey impact Singapore, Hong Kong, China, India, Malaysia, and Australia.

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Liberty Specialty Markets has revamped its Asia Pacific underwriting structure across Singapore, Hong Kong, China, India, Malaysia, and Australia, following the confirmation of five internal appointm...

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]]> Korean Re approved to open branch in India’s Gift City https://insuranceasianews.com/korean-re-approved-to-open-branch-in-indias-gift-city/ Fri, 28 Nov 2025 03:22:02 +0000 https://insuranceasianews.com/?p=205585 South Korean reinsurer plans to officially commence operations in April.

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Korean Re has received regulatory approval to establish a new branch in Gujarat International Finance Tech-City (Gift City), India’s first operational smart city and International Financial Services C...

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