Munich Re today confirmed it had received final approval from the Insurance Regulatory and Development Authority of India (Irdai) to establish a branch in the country.
The reinsurer will set up a branch office in Mumbai to service the P&C, life and health reinsurance markets in India.
This publication reported in late December that Munich
Re had obtained "R3" approval, but was awaiting final
procedural clearance from the regulator.
"With this set-up, the group is in an excellent position to...
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