Health insurance company, Cigna, has announced that it has completed a joint venture deal that will allow it to sell health insurance products in the fastest growing market, in India. In India, 85 percent of all people do not have health insurance. The joint venture which will bring Cigna into this marketplace will be with a company called TTK Group, which is better known for appliances such as its Prestige brand pressure cookers, but which also manufactures medical devices and drugs, and administers insurance policies. This announcement comes at a…
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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…
Read MoreEmerging markets show promise, according to Lloyd’s
Lloyd’s has been making a significant effort to improve access to overseas markets after seeing promising opportunities for international trade among emerging economies. Though Lloyd’s has been very active in this pursuit, it also published an article on its own website which requested improved cooperation among the participants in the markets, itself, and the managers within its own country, which would allow for further improvements to the current opportunities. It was acknowledged by Lloyd’s that regardless of the financial crisis worldwide, a number of emerging markets within Latin America and…
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