india

In order to develop India’s International Financial Services Centre (IFSC) into a competitive global insurance and reinsurance hub, a committee has advised that offering regulated frameworks for insurance-linked securities (ILS) such as catastrophe bonds is critical.

Catastrophe risk modelling specialist has launched a new multi-peril crop insurance risk model for India, which it believes will help underwriters better understand and estimate potential losses due to yield shortfalls.

Once again the discussion of exchange-traded weather risk management products for Indian farms, companies and insurers has come to the fore, but this time the plan is for a product to be launched after September of this year.

The Indian insurance and reinsurance market is going through a stage of modernisation, with a number of initiatives seeking to better inform consumers, encourage foreign capital into the market and to ready the market for new product developments.

According to a representative of India’s national reinsurance company, General Insurance Corporation of India or GIC Re, the company is making progress in its efforts to become the first Indian catastrophe bond sponsor.

India’s national reinsurance company, General Insurance Corporation of India or GIC Re, is continuing to look at catastrophe bonds as a viable addition to its retrocessional reinsurance program, according to its chairman.

India’s national reinsurance company, General Insurance Corporation of India or GIC Re for short, will look to catastrophe bonds as a potential source of risk capital and transfer as it seeks to provide cover for losses and access capital at cheaper rates, according to a report.

The reinsurance market in Asia has significant room for growth given the relatively low level of insurance penetration across the region, according to a report from Fitch Ratings. However risk awareness is increasing, demand for reinsurance from direct insurers in the region is growing and this will naturally lead to opportunities for the capital markets […]

Helped by the growth of microinsurance and weather-index insurance, India’s weather insurance market has been experiencing rapid growth in recent years. Now with more farmers starting to use weather insurance as a way to mitigate against the risks posed by extreme weather and climate change impacts two of India’s biggest players in weather insurance have […]

Skymet Weather Services, a provider of weather data and forecasts to various sectors in India, is planning to launch weather derivative indices on commodity exchanges such as India’s MCX and NCDEX according to a report in the Business Standard newspaper. Skymet are preparing the modelling and structure of weather derivative products in the hope that […]