Public general insurance companies to collaborate for speedy settlement of claims
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
Bharti will move FIPB soon for increasing Axa's stake to 49%
The industry's reactions to the Budget have been mixed.
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