Munich Re and Swiss Re have received clearance from the Insurance Regulatory and Development Authority of India (Irdai) to establish a branch in the country.
The German reinsurer is understood to have obtained "R3" approval, but is awaiting final procedural clearance from the regulator, while a Swiss Re representative confirmed Irdai has granted it R3 go-ahead.
Earlier this week Hannover Re and Scor announced they had
secured final approval to set up branch offices in India.
US life reinsurer Reinsurance...
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