Lloyd’s, which on Monday got first level approval to provide onshore reinsurance services in India, said it would push the government to relax a rule that puts Indian re-insurance companies at a favourable position against foreign insurers.
John Frederick Nelson, the chairman of Lloyd’s, toldBusiness Standard, “We are excited to have got the licence from the insurance regulator last week, but we think the expansion of the Indian market could be slowed by the unequal treatment.”
