Vipal Durge is Features Editor at (Re)in Asia, covering the deals and corporate strategy reshaping Asia Pacific insurance. Areas of specialty include M&A and market consolidation, insurer results and underwriting performance, and regulatory decisions across Australia, Japan, India and Southeast Asia.
The space agency's review found that domestic insurers currently lack sufficient capacity to underwrite large and complex space risks, leading to heavy dependence on international reinsurance markets.
The updated guidelines also incorporate parameters such as the implementation of Indian Accounting Standards and the removal of “dark patterns” in customer interactions.
The state-owned insurer raised its holding through market purchases, crossing the regulatory threshold that requires disclosure of significant shareholding.
Persistent underwriting losses and high distribution costs weigh on India’s general insurers, with direct models and customer ownership seen as key to improving economics.
