Krishnan Ramachandran,MD and CEO, Niva Bupa Health Insurance Niva...
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`Bima Sugam is a big game changer for the end user and companies will also get the advantage”
In an interview with IANS, Anil Kumar Aggarwal, Managing Director...
“APAC Cyber markets to become more buyer-friendly as new capacity becomes available and rates continue to stablise”
In an exclusive interview with Asia Insurance Post, Adam Peckman,...
“Our strategy is to increase footprint in the developed economies while maintaining and growing market share in our part of the world”
In an exclsusive interview with Asia Insurance Post,Reena Bhatnagar,General Manager and Joint Charge of CMD, GIC Re, speaks about listed reinsurer’s strategies to expand its global foot print and to make the listed company a tech-savvy and profitable entity
“There will be a post-Brexit trade deal between India and the UK”
“We’ve identified a number of areas where the UK and India can work more closely together in innovative financial services- cyber, green and fintech.In fact, our ties are already strong in these areas, and many firms from the UK are already based here. Vice versa many Indian firms are in the UK. After all London’s expertise perfectly matches India’s fast growing market”
“Raising FDI limit will provide opportunities to existing players as well as to new players”
The FDI limit could be made 100%, encouraging international players to set up in India and expand their foot print, with their own long-term strategies and best practices. However, adequate provisions will need to be made to safeguard the Indian customers against the adverse effects, if any, of the FII’s international businesses.
“Industry should focus on product innovations, especially in the pension space”
Today we are also seeing more and more life insurers invest in digital assets designed for enhanced customer delight. I believe this 360 degree approach towards ensuring customers’ benefits is making life insurance a more preferred investment product.
“Opening up to 100% FDI may trigger a fresh wave of consolidation and change of shareholding”
“Opening up to 100% FDI may trigger a fresh wave of consolidation and change of shareholding. Many players who would want to use digital technologies to disrupt the industry may want to get in. Having said that, the sector is also getting quite crowded and already there is severe competition in the sector.
“With increasing maturity, the FDI limits can be enhanced beyond 49%”
The life insurance industry is still under evolution in India and a higher FDI will bring in much needed capital into the picture, either to the life insurance industry, or release capital for other sectors of the economy.
“The FAIR Nat CAT pool has gained the approval to operate in India’’
FAIR pools are performing satisfactorily, overall, the revenue of the pools and syndicate is growing steadily with expectations to have reached close to $120m in the past year, and each year we have new members sharing the units of the pools’ ownership.
“Growth and profitability are equally important”
A reasonable growth. at least in line with the industry and simultaneously reducing the incurred claim ratio will be the strategy going forward. Claims ratio will be brought down using better risk selection.
“We do write a lot of agriculture business and it contributes to about 40% of our business in India”
At Swiss Re, we believe that there are many ways we can operate to help address or close the protection gap in India. For instance, infrastructure is a pillar that we will be focusing on, as there are many opportunities in engineering and construction that require capacity in India.
“We are more focused on improving the pricing and the other terms and conditions” Alice Vaidyan, CMD, GIC Re
“When I began my term as the CMD of GIC Re, I had two goals for us- to be a Top 10 Global Reinsurer and to deliver consistent underwriting profit. And I am proud to say that GIC Re has been ranked as the 10th largest Reinsurer in the latest S&P rankings. I realize that it is not enough to be a `Top 10 Reinsurer’ only on the metric of size but to deliver value to our clients, shareholders and business partners.’’