Gen Re’s entry follows a rush among foreign reinsurers such as Munich Re, Swiss Re AG, London-based Lloyd’s and SCOR SE after Asia’s third-biggest economy opened the sector in 2015. We are here for the long haul.”Building a business in India could help Gen Re’s turnaround. Soon after, Jain wrote a lengthy memo to Gen Re’s staff suggesting areas where they could streamline operations and change how it does business to be more competitive. ICICI Lombard General Insurance Co. raised Rs5,700 crore ($877 million) on 21 September, while SBI Life Insurance Co. is looking to raise $1.3 billion. Deals are also in the offing from HDFC Standard Life Insurance Co. and state-run General Insurance Corp. of India.

Source: Mint September 28, 2017 04:07 UTC