Japanese insurers eye Indian market
By TNN, |
Some of the top Japanese insurance players such as Mitsui Sumitomo are exploring opportunities to enter the Indian insurance sector. The enthusiasm to set shop in India has gone up among Japanese and Korean companies, post the government’s proposal to lift the FDI cap in the insurance sector from 26 per cent to 49 per cent.
Post the crisis, India and China are among the fastest growing insurance markets. Although China is a bigger market, India’s distribution system is more evolved, say experts.
According to industry officials, global companies usually prefer to have a presence in both India and China. According to market grapevine, a couple of Japanese and Korean insurance players are looking at possible joint venture deals with some of the financial services firms which have a large distribution network, among other things.
Post the crisis, India and China are among the fastest growing insurance markets. Although China is a bigger market, India’s distribution system is more evolved, say experts.
According to industry officials, global companies usually prefer to have a presence in both India and China. According to market grapevine, a couple of Japanese and Korean insurance players are looking at possible joint venture deals with some of the financial services firms which have a large distribution network, among other things.
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