Ageas Federal Life Insurance, a joint venture of Ageas of Brussels, Belgium, and Federal Bank, has launched what it calls the first multi-currency life insurance plan from a life insurer at GIFT City in Gujarat, India's first international financial services center. The launch also marks the insurer's start of operations...
Attempts to insure operating nuclear plants in India
According to the Business Standard newspaper, currently, India's atomic reactors are insured only until the time they are not operational. As soon as the fission material is fired into the reactors, the insurance cover ends Nuclear Power Corporation of India Ltd (NPCIL) bears the responsibility of any damages. As NPCIL...
Warren Buffett enters India via Berkshire Hathaway
Berkshire Hathaway, promoted by billionaire Nebraska investor Warren Buffet, will become part of India’s auto insurance market. Berkshire Hathaway will position itself with an existing Indian corporation, Bajaj Allianz General. Entrance through an existing corporation is in response to Indian law which prohibits high level of direct foreign investment in...