India’s banking sector is increasingly recognising the impact of climate-related risks – particularly flood – as a major contributor to non-performing assets. A host of planned transformative infrastructure projects for example will also need comprehensive feasibility studies and environmental risk assessments, an area that JBA has a strong reputation and capability in
London:UK-based flood science specialist JBA Risk Management has confirmed plans to open an office in Bangalore, India next month. The move is in response to growing demand for advanced flood risk modelling and data solutions from the insurance and financial services sectors across India as the country grapples with the increasing impact of climate-related risks.
Mansi Kalra, managing director, JBA Risk Management Pte(in pic), who is presently based out of JBA’s Singapore office, will relocate to India to head up JBA Risk Management India, whilst retaining management of the Singapore operation.
The team based in India will be four-strong by the turn of the year.
Mansi Kalra, managing director, JBA Risk Management Pte commented,“This is an exciting time to be opening a new operation in India which will serve as a strategic hub enabling us to deepen relationships, enhance service delivery, and accelerate our impact in one of the world’s most dynamic and rapidly expanding markets.
Bangalore is the perfect base from which to grow, providing access to a wealth of local talent in areas such as data science, climate modelling, and geospatial analytics; as well as close proximity to the head offices of key clients and partners, including insurers, reinsurers, banks, and consultancies.
“We will also be out in force at the forthcoming 19th India Rendezvous in Mumbai in January (19-21) and the team is looking forward to catching up with existing clients and meeting new ones.” said Kalra.
India’s general insurance market is growing rapidly, having recorded gross written premiums of around ₹3.08 trillion in 2024, 6% up on the year before, according to the Insurance Regulatory Development Authority of India.
The property insurance segment in particular is performing strongly, with industry analysts forecasting a compound annual growth rate of around 8.3 % through 2028.
India’s banking sector is also increasingly recognising the impact of climate-related risks – particularly flood – as a major contributor to non-performing assets. A host of planned transformative infrastructure projects for example will also need comprehensive feasibility studies and environmental risk assessments, an area that JBA has a strong reputation and capability in.