'Top of Table' insurance meet in US amidst global crisis

NEW DELHI: World's top finance and insurance professionals, including Rajesh Satoskar from Mumbai, are meeting in Texas in the backdrop of the crisis in leading economies of the world.

Satoskar, to be among the select speakers at the Million Dollar Round Table (MDRT), will give his presentation on the unfolding insurance scenario in India.

The four-day meeting of the MDRT, the premier association of the world's top insurance and finance professionals, is taking place at Austin in Texas from October 22, at a time when the credibility of global financial players, including some insurance firms, is at risk.

Recently, the American International Group (AIG), caught in the whirlpool of financial turmoil was bailed by the US government.

In the growing Indian economy, foreign direct investment up to 26 per cent is allowed in insurance. The industry is well regulated with strong solvency margins which can stand the Indian joint venture companies in good stead in difficult times.

Satoskar, who specialises in selling insurance policies to high net worth individuals, will be sharing the "Top of the Table" platform with the likes of inventor and futurist Ray Kurzweil and US Government Adviser Carly Fiorina.

It is for the first time that an Indian has been "recognised" to speak on the ToT, where Europeans and Americans dominate.

"ToT is the Mt Everest for an insurance adviser/financial professional," Satoskar said.