India’s Finance Ministry requests public sector general insurance companies to reduce expense ratio

The Finance Ministry in India has requested that the public sector insurance companies drop their expense ratio and reduce their management expenses in order to achieve better profits. The ministry has examined the performance of the four PSU insurers and, according to official sources, the motor and health insurance areas are those that continue to present a concern. The goal is to make the expense ratio more competitive. Moreover, these companies have already been told that it will be important to reduce their management expenses. The four PSU insurance companies…

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Allianz warns that UK’s place in the global insurance market is slipping

Allianz UK, one of the largest insurers in the nation, is warning the government that the insurance industry is a risk of a dramatic loss in business. Britain is currently home to the third largest insurance sector in the world. However, many insurance companies that once called the UK home are now moving to Bermuda and Switzerland, hoping to take advantage of the various incentives those nations offer. Allianz officials say that the issue is no simply what the UK has to offer insurers, but what insurers in the UK…

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