Market Lane's deal with ARAG comes less than two months after the latter announced it would withdraw from Australia due to unmet business expectations.
The proposal would mark India's third FDI liberalisation in a decade, potentially reshaping insurer joint ventures and aligning with the government's “Insurance for All by 2047” goal.
The rating agency said capital recovery driven by underwriting and investment gains kept Taiwanese insurer's position stable despite market volatility.
The system will require vessels to hold P&I cover from IG P&I Clubs, domestic insurers, or international carriers with a credit rating of at least BBB.
