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International

No plans to enter direct insurance business in India: Swiss Re

May 29, 2015 Reprints

A Swiss Re Ltd. official has said that the reinsurer has "no plans to enter the direct insurance business in India," reports Business Standard citing the Press Trust of India.

"Our current strategy is entirely focused on building our reinsurance franchise in India, through the establishment of reinsurance branch operations to support our life and nonlife clients," said the official. Swiss Re said that it has welcomed the new Insurance Act and it "looks forward to the opportunities for growth this will bring to the reinsurance sector."

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No plans to enter direct insurance business in India: Swiss Re

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